Company: MDXG
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001376339-25-000103
Chunk: 1

Company: MIMEDX GROUP, INC.
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 1
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 We apply Current Good Tissue Practices (“CGTP”) and other applicable quality standards in addition to terminal sterilization to produce our allografts.

This discussion, which presents our results for the three and nine months ended September 30, 2025 and 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 filed with the SEC on February 26, 2025 (the “2024 Form 10-K”).

Results of Operations

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

Three Months Ended September 30,(in thousands)20252024$ Change% ChangeNet sales$113,725 $84,057 $29,668 35.3 %Cost of sales18,719 15,322 3,397 22.2 %Gross profit95,006 68,735 26,271 38.2 %Selling, general and administrative69,001 53,516 15,485 28.9 %Research and development3,703 2,918 785 26.9 %Investigation, restatement and related— 649 (649)nmAmortization of intangible assets112 192 (80)(41.7)%Impairment of intangible assets— 298 (298)nmInterest income, net785 278 507 nmOther expense, net(126)(21)(105)nmIncome tax provision expense(6,101)(3,541)(2,560)72.3 %Net income from continuing operations16,748 7,878 8,870 112.6 %

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 September 30, 2025 of $113.7 million, which is an increase of $29.7 million, or 35.3% compared to the three months ended September 30, 2024, in which we recognized net sales of $84.1 million. 

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

Three