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Dec 31, 2022
Mimedx Q4 2022 Earnings Report
Mimedx reported highest quarterly net sales since Q4 2019 and a net loss of $0.4 million.
Key Takeaways
MiMedx Group, Inc. reported a 10.3% increase in net sales for the fourth quarter of 2022, reaching $74.4 million compared to $67.4 million in the prior year period. The company's net loss for the quarter was $0.4 million, compared to a net income of $2.2 million for the same period in 2021.
Reported Q4 2022 net sales of $74.4 million, a 10.3% increase compared to Q4 2021.
Net loss of $0.4 million for Q4 2022, compared to net income of $2.2 million for Q4 2021.
Adjusted EBITDA of $7.3 million for Q4 2022, compared to $3.6 million for the prior year period.
Commenced the first registrational clinical trial for mDHACM in the treatment of KOA.
Forward Guidance
The Company’s goal is to deliver net sales percentage growth in the low double-digits annually. In 2023, the Company expects to see continued growth in both the wound and surgical end markets throughout the year, particularly in the hospital and wound care clinic sites-of-service, as well as a modest contribution from sales generated in Japan.
Positive Outlook
- Continued growth in wound and surgical end markets.
- Growth in hospital and wound care clinic sites-of-service.
- Modest contribution from sales generated in Japan.
- Goal to deliver net sales percentage growth in the low double-digits annually.
- Wound & Surgical segment contribution margin at or above 30% of segment net sales
Challenges Ahead
- Uncertainty around potential changes to the U.S. Centers for Medicare and Medicaid Services reimbursement in the private physician office setting.
- Continued challenging environment in private physician office site-of-service.
- Corporate expenses as a percentage of sales below 20%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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