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Sep 30, 2024
Mimedx Q3 2024 Earnings Report
Reported net sales growth of 3% year-over-year and GAAP net income of $8 million.
Key Takeaways
MiMedx announced solid third quarter 2024 results with total net sales growth of 3% year-over-year and an Adjusted EBITDA margin of 22%. The company is optimistic about addressing Medicare spending and remains committed to research and evidence production.
Net sales for the third quarter 2024 were $84 million, a 3% increase compared to $82 million in the third quarter 2023.
GAAP Net Income for the third quarter was $8 million, or $0.05 per share.
Adjusted EBITDA for the third quarter was $18 million, representing 22% of net sales.
The company now expects 2024 net sales growth to be in the high single-digits.
Revenue by Segment
Forward Guidance
MiMedx expects net sales growth to be in the high single-digits as a percentage compared to 2023, and the 2024 Adjusted EBITDA margin is expected to be above 20% on a full year basis.
Positive Outlook
- Net sales growth to be in the high single-digits as a percentage compared to 2023.
- Adjusted EBITDA margin is expected to be above 20% on a full year basis.
- Company expects to achieve annual net sales growth in the low double-digits as a percentage.
- Company expects Adjusted EBITDA margin above 20%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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