Company: MDXG
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001376339-25-000045
Chunk: 1

Company: MIMEDX GROUP, INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 2
Chunk 1
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4,840 8.8 %Research and development3,328 2,841 487 17.1 %Investigation, restatement and related— 311 (311)nmAmortization of intangible assets99 189 (90)(47.6)%Impairment of intangible assets— 54 (54)nmInterest income (expense), net506 (1,690)2,196 nmOther expense, net(145)(99)(46)46.5 %Income tax provision (expense)(1,589)(2,348)759 (32.3)%Net income from continuing operations7,023 9,061 (2,038)(22.5)%

Changes noted as “nm” in the table above indicate that the percentage change is not meaningful.

Net Sales

We recorded net sales for the three months ended March 31, 2025 of $88.2 million, a $3.5 million, or 4.1%, increase compared to the three months ended March 31, 2024, in which we recognized net sales of $84.7 million. 

Our sales by product line were as follows (amounts in thousands):

Three Months Ended March 31,Change20252024$%Wound$56,073 $57,049 $(976)(1.7)%Surgical32,132 27,660 4,472 16.2 %Total$88,205 $84,709 $3,496 4.1 %

Net sales of our Wound product portfolio were $56.1 million for the three months ended March 31, 2025, a $1.0 million or 1.7% decrease compared to $57.0 million for the three months ended March 31, 2024. The decrease was primarily driven by continued challenges associated with ongoing competitive challenges related to Medicare business in the private office and associated care settings and higher-than-expected turnover of certain of our sales team and loss of associated sales in mid-2024. The Company’s recent addition of CELERA to its product portfolio helped to partially offset these headwinds. 

Net sales of our Surgical products totaled $32.1 million for the three months ended March 31, 2025, reflecting an increase of $4.5 million, or 16.2%, compared to $27.7 million for the three months ended March