Company: MDXG
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001376339-25-000103
Chunk: 4

Company: MIMEDX GROUP, INC.
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 4
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The income tax provision for the three months ended September 30, 2025 reflects the provisions of the Tax Act. The Tax Act resulted in a current tax benefit resulting from the utilization of deferred tax assets, primarily relating to the utilization of capitalized research and development expenses, and did not affect our effective tax rate in the three months ended September 30, 2025. 

Nine Months Ended September 30, 2025 Compared to the Nine Months Ended September 30, 2024

20

Nine Months Ended September 30,(in thousands)20252024$ Change% ChangeNet sales$300,535 $255,972 $44,563 17.4 %Cost of sales53,958 43,164 10,794 25.0 %Gross profit246,577 212,808 33,769 15.9 %Selling, general and administrative193,121 164,044 29,077 17.7 %Research and development10,336 8,770 1,566 17.9 %Investigation, restatement and related— (8,741)8,741 nmAmortization of intangible assets310 572 (262)(45.8)%Impairment of intangible assets— 352 (352)nmInterest income (expense), net2,029 (1,409)3,438 nmOther expense, net(372)(357)(15)4.2 %Income tax provision expense(11,080)(11,485)405 (3.5)%Net income from continuing operations33,387 34,560 (1,173)(3.4)%

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

Net Sales

We recorded net sales for the nine months ended September 30, 2025 of $300.5 million, a $44.6 million, or 17.4%, increase compared to the nine months ended September 30, 2024, for which we recorded net sales of $256.0 million. 

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

Nine Months Ended September 30,Change20252024$%Wound $197,647 $169,647 $28,000 16.5 %Surgical102,88886,32516,563 19.2 %Total$300,535 $