Company: MDXG
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001376339-25-000085
Chunk: 1

Company: MIMEDX GROUP, INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 2
Chunk 1
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2024, should be read in conjunction with the unaudited condensed consolidated financial statements and accompanying notes included in this Form 10-Q and the financial statements and accompanying notes and Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

Results of Operations

Three Months Ended June 30, 2025 Compared to the Three Months Ended June 30, 2024

Three Months Ended June 30,(in thousands)20252024$ Change% ChangeNet sales$98,605 $87,207 $11,398 13.1 %Cost of sales18,681 14,855 3,826 25.8 %Gross profit79,924 72,352 7,572 10.5 %Selling, general and administrative64,151 55,401 8,750 15.8 %Research and development3,303 3,012 291 9.7 %Investigation, restatement and related— (9,701)9,701 nmAmortization of intangible assets100 190 (90)(47.4)%Interest income, net738 3 735 nmOther expense, net(101)(237)136 (57.4)%Income tax provision (expense)(3,389)(5,595)2,206 (39.4)%Net income from continuing operations9,618 17,621 (8,003)(45.4)%

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 June 30, 2025 of $98.6 million, a $11.4 million, or 13.1%, increase compared to the three months ended June 30, 2024, in which we recognized net sales of $87.2 million. 

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

Three Months Ended June 30,Change20252024$%Wound$64,476 $57,547 $6,929 12.0 %Surgical34,129 29,660 4,469 15.1 %Total$98,605 $87,207 $11,398 13.1 %

Net sales of our Wound product portfolio