MIMEDX GROUP, INC. MDXG
MIMEDX is a pioneer and leader focused on helping humans heal. With nearly two decades of helping clinicians manage chronic and other hard-to-heal wounds, MIMEDX provides a leading portfolio of products for applications in the wound care, burn, and surgical sectors of healthcare. The Company's vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life.
Since its inception, MIMEDX has focused on leading the industry with its deep expertise, unmatched peer-reviewed scientific and clinical data, robust intellectual property portfolio and an expansive library of real-world evidence supporting the use of our products. Historically, our sole focus has been on placental biologics. However, in 2024, we broadened our portfolio and began offering animal-derived products, or xenografts, and in 2025 and early 2026, we entered into agreements with manufacturers of other wound care modalities to further expand our product offering to serve our large and growing customer base. We continue to look for ways to broaden our portfolio, both inorganically and through our internal research and development efforts.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $418.6M | $348.9M | $321.5M | $267.8M | $242.0M | $248.2M | $299.3M | $359.1M | $321.1M | $221.7M |
| Cost of revenue | $73.0M | $60.1M | $54.6M | $48.3M | $39.6M | $39.3M | $43.1M | $36.4M | $35.2M | $30.9M |
| Gross profit | $345.6M | $288.8M | $266.8M | $219.5M | $202.4M | $208.9M | $256.2M | $322.7M | $285.9M | $190.8M |
| R&D | $15.1M | $12.3M | $12.7M | $12.7M | $9.9M | $11.7M | $11.1M | $15.8M | $17.9M | $14.3M |
| SG&A | $266.2M | $225.1M | $211.1M | $208.7M | $194.8M | $181.0M | $198.2M | $258.5M | $220.1M | $173.4M |
| Operating income | $63.9M | $58.9M | $37.1M | -$14.7M | -$7.1M | -$45.4M | -$21.2M | -$3.9M | $46.2M | $884.0K |
| Interest expense | $1.8M | $3.9M | $6.6M | $5.0M | $5.0M | $7.9M | $4.7M | $527.0K | $87.0K | $339.0K |
| Pre-tax income | $66.3M | $57.3M | $30.6M | -$19.7M | -$12.1M | -$61.5M | -$25.6M | -$3.4M | $45.1M | $545.0K |
| Income tax | $17.7M | $15.3M | $36.8M | $206.0K | $247.0K | $12.3M | $5.0K | $26.6M | $19.6M | $155.0K |
| Net income | $48.6M | $42.4M | $58.2M | -$30.2M | -$10.3M | -$49.3M | -$25.6M | -$30.0M | $64.7M | $390.0K |
| EPS, basic | 0.33 | 0.29 | 0.40 | -0.33 | -0.15 | -0.77 | -0.24 | -0.28 | 0.61 | 0.00 |
| EPS, diluted | 0.32 | 0.28 | 0.37 | -0.33 | -0.15 | -0.77 | -0.24 | -0.28 | 0.56 | 0.00 |
| Shares, diluted (wtd. avg.) | 149.7M | 149.0M | 146.0M | 112.9M | 110.4M | 108.3M | 106.9M | 105.6M | 116.1M | 112.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $166.1M | $104.4M | $82.0M | $66.0M | $87.1M | $95.8M | $69.1M | $45.1M | $27.5M | $30.3M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $0 |
| Receivables | $75.7M | $55.8M | $53.9M | $43.1M | $40.4M | $35.4M | $32.3M | $0 | — | $1.9M |
| Inventory | $25.3M | $23.8M | $21.0M | $13.2M | $11.4M | $10.4M | $9.1M | $16.0M | $9.5M | $15.9M |
| Total current assets | $277.5M | $191.9M | $164.3M | $134.2M | $148.5M | $160.6M | $123.2M | $74.0M | $48.7M | $59.5M |
| Property, plant and equipment | — | — | — | — | — | $11.4M | $12.3M | $17.4M | $14.1M | $14.0M |
| Goodwill | $19.4M | $19.4M | $19.4M | $19.4M | $19.4M | $20.0M | $20.0M | $20.0M | $20.2M | $20.2M |
| Other intangibles | $14.2M | $11.6M | $5.3M | $5.9M | $5.4M | $6.0M | $7.8M | $9.6M | $10.0M | $23.3M |
| Total assets | $342.7M | $263.9M | $239.0M | $171.4M | $187.9M | $202.0M | $167.2M | $122.8M | $121.3M | $117.3M |
| Accounts payable | $14.5M | $7.4M | $9.0M | $8.5M | $7.4M | $8.8M | $8.7M | — | — | — |
| Short-term debt | $1.5M | $1.0M | $1.0M | — | — | $0 | $3.8M | $0 | — | — |
| Total current liabilities | $64.3M | $45.6M | $46.0M | $43.6M | $42.4M | $59.2M | $67.3M | $71.5M | $45.8M | $60.8M |
| Long-term debt | $16.5M | $17.8M | $48.1M | $48.6M | $48.1M | $47.7M | $61.9M | $0 | — | — |
| Total liabilities | $86.1M | $70.8M | $96.3M | $96.9M | $95.4M | $110.6M | $132.8M | $73.2M | $47.5M | $69.2M |
| Retained earnings | -$42.7M | -$91.3M | -$133.7M | -$191.9M | -$161.7M | -$151.4M | -$102.1M | -$76.6M | -$46.6M | -$111.3M |
| Total equity | $256.5M | $193.1M | $142.7M | -$18.0M | $82.0K | -$150.0K | $34.4M | $49.7M | $73.8M | $48.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $74.0M | $66.2M | $26.8M | -$17.9M | -$2.0M | -$30.3M | -$39.4M | $35.8M | $62.9M | $23.8M |
| Depreciation and amortisation | $14.9M | $6.0M | $3.4M | $3.3M | $4.4M | $5.8M | $6.5M | $5.9M | $4.1M | $3.3M |
| Stock-based compensation | $16.4M | $16.9M | $17.0M | $11.3M | $14.2M | $15.4M | $12.1M | $14.8M | $21.2M | $17.7M |
| Capital expenditure | — | — | $2.0M | $1.5M | $3.2M | — | — | — | — | — |
| Investing cash flow | -$6.9M | -$9.6M | -$2.2M | -$2.7M | -$3.4M | -$4.6M | $504.0K | -$9.2M | -$5.4M | -$11.7M |
| Financing cash flow | -$5.4M | -$34.2M | -$8.6M | -$580.0K | -$3.4M | $61.6M | $62.9M | -$8.9M | -$60.4M | -$8.2M |
| Buybacks | $0 | $0 | $9.5M | $0 | $0 | $900.0K | — | $7.6M | $68.3M | $10.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001376339-26-000033.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $221.7M | $321.1M | $359.1M | $299.3M | $248.2M | $242.0M | $267.8M | $321.5M | $348.9M | $418.6M |
| Gross profit | $190.8M | $285.9M | $322.7M | $256.2M | $208.9M | $202.4M | $219.5M | $266.8M | $288.8M | $345.6M |
| Net income | $390.0K | $64.7M | -$30.0M | -$25.6M | -$49.3M | -$10.3M | -$30.2M | $58.2M | $42.4M | $48.6M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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