Company: MDXG
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001376339-25-000085
Chunk: 4

Company: MIMEDX GROUP, INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 2
Chunk 4
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 to the Six Months Ended June 30, 2024

Six Months Ended June 30,(in thousands)20252024$ Change% ChangeNet sales$186,810 $171,915 $14,895 8.7 %Cost of sales35,239 27,841 7,398 26.6 %Gross profit151,571 144,074 7,497 5.2 %Selling, general and administrative124,120 110,530 13,590 12.3 %Research and development6,632 5,852 780 13.3 %Investigation, restatement and related— (9,390)9,390 nmAmortization of intangible assets199 379 (180)(47.5)%Impairment of intangible assets— 54 (54)nmInterest income (expense), net1,244 (1,687)2,931 nmOther expense, net(247)(336)89 (26.5)%Income tax provision (expense)(4,978)(7,944)2,966 (37.3)%Net income from continuing operations16,639 26,682 (10,043)(37.6)%

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

Net Sales

We recorded net sales for the six months ended June 30, 2025 of $186.8 million, a $14.9 million, or 8.7%, increase compared to the six months ended June 30, 2024, for which we recorded net sales of $171.9 million. 

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

Six Months Ended June 30,Change20252024$%Wound $120,549 $114,595 $5,954 5.2 %Surgical66,26157,3208,941 15.6 %Total$186,810 $171,915 $14,895 8.7 %

Net sales of our Wound product portfolio were $120.5 million for the six months ended June 30, 2025, a $6.0 million or 5.2% increase compared to $114.6 million for the six months ended June 30, 2024. The increase was primarily driven by sales of our newer products, CELERA