# EDGAR Filing Document

**Accession Number:** 0001376339
**File Stem:** 0001376339-25-000087
**Filing Date:** 2025-7
**Character Count:** 65852
**Document Hash:** 14cd4ab158b333d813ff299fc2d8c750
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001376339-25-000087.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001376339-25-000087

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 71

**CONFORMED PERIOD OF REPORT**: 20250730

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MIMEDX GROUP, INC.
- **CENTRAL INDEX KEY:** 0001376339
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 262792552
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35887
- **FILM NUMBER:** 251166932

**BUSINESS ADDRESS:**
- **STREET 1:** 1775 W OAK COMMONS COURT, NE
- **CITY:** MARIETTA
- **STATE:** GA
- **ZIP:** 30062
- **BUSINESS PHONE:** (770) 651-9100

**MAIL ADDRESS:**
- **STREET 1:** 1775 W OAK COMMONS COURT, NE
- **CITY:** MARIETTA
- **STATE:** GA
- **ZIP:** 30062

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Alynx, Co.
- **DATE OF NAME CHANGE:** 20060922

?xml version='1.0' encoding='ASCII'? mdxg-20250730

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

____________________

**FORM 8-K** ____________________

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): July 30, 2025** 

**MIMEDX GROUP, INC.**

**(Exact name of registrant as specified in charter)**

---

| | | |
|:---|:---|:---|
| **Florida** | **001-35887** | **26-2792552** |
| **(State or other jurisdiction** | **(Commission** | **(IRS Employer** |
| **of incorporation)** | **File Number)** | **Identification No.)** |

---

**1775 West Oak Commons Ct., NE, Marietta GA 30062** 

**(Address of principal executive offices) (Zip Code)**

**Registrant's telephone number, including area code: (770) 651-9100** 

____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

**☐** Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange<br>on which registered** |
| **Common Stock, $0.001 par value per share** | **MDXG** | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Important Cautionary Statement**

This report includes forward-looking statements, including statements regarding: (i) future sales or sales growth; (ii) our 2025 and longer term financial goals and expectations for future financial results, including levels of net sales, Adjusted EBITDA, Adjusted EBITDA margin, corporate expenses, and cash; (iii) our expectations regarding the placental tissue market; (iv) our expectations regarding Medicare spending reform; and (v) continued growth in different care settings. Additional forward-looking statements may be identified by words such as "believe," "expect," "may," "plan," "goal," "outlook," "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations.

Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: (i) future sales are uncertain and are affected by competition, access to customers, patient access to healthcare providers, the reimbursement environment and many other factors; (ii) the Company may change its plans due to unforeseen circumstances; (iii) the results of scientific research are uncertain and may have little or no value; (iv) our ability to sell our products in other countries depends on a number of factors including adequate levels of reimbursement, market acceptance of novel therapies, and our ability to build and manage a direct sales force or third party distribution relationship; (v) the effectiveness of amniotic tissue as a therapy for particular indications or conditions is the subject of further scientific and clinical studies; and (vi) we may alter the timing and amount of planned expenditures for research and development based regulatory developments; (vii) Medicare spending; and (viii) changes in the size of the addressable market for our products. The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this report and the Company assumes no obligation to update any forward-looking statement.

**Item 2.02 Results of Operations and Financial Condition.**

On **July 30, 2025**, MiMedx Group, Inc. (the "***Company***"), issued a press release (the "***Earnings Press Release***") announcing its results for the quarter ended June 30, 2025. A copy of the Earnings Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The foregoing information is furnished pursuant to Item 2.02, "Results of Operations and Financial Condition", including Exhibit 99.1 attached hereto, and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "***Exchange Act***"), or otherwise subject to the liabilities of that section. It may only be incorporated by reference into another filing under the Exchange Act or Securities Act of 1933, as amended (the "***Securities Act***"), if such subsequent filing specifically references this Form 8-K. All information in the Earnings Press Release speaks as of the date thereof and the Company does not assume any obligation to update such information in the future. In addition, the Company disclaims any inference regarding the materiality of such information which otherwise may arise as a result of its furnishing such information under Item 2.02 of this report on Form 8-K.

**Item 7.01&nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure.**

On **July 30, 2025**, at 4:30 PM Eastern Daylight Time, the Company intends to host a conference call and webcast (the "***Earnings Call***") to discuss its financial and operating results for the quarter ended June 30, 2025. A copy of the slide presentation to be used by the Company in connection with the Earnings Call is attached hereto as Exhibit 99.2 and is incorporated herein by reference. A copy of the investor presentation materials made available to the investors by the Company on the Company's website in connection with Earnings Release is furnished as Exhibit 99.3 to this Current Report and is incorporated herein by reference.

The foregoing information is furnished pursuant to Item 7.01, including Exhibits 99.2 and 99.3 attached hereto, and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. It may only be incorporated by reference into another filing under the Exchange Act or Securities Act if such subsequent filing specifically references this Form 8-K.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |
| 99.1 | <u>[Earnings Press Release dated July 30, 2025](mdxg-q22025pressreleasev.htm)</u> |
| 99.2 | <u>[Earnings Call Presentation dated July 30, 2025](q2_25mdxgccdeckvfinal.htm)</u> |
| 99.3 | <u>[Investor Presentation dated August 2025](mimedxinvestorpresentati.htm)</u> |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |

---

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**SIGNATURES**

Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | | **MIMEDX GROUP, INC.** |
| July 30, 2025 | By: | /s/ Doug Rice |
|  |  | Doug Rice<br>Chief Financial Officer |

---

## Exhibit 99.1

![](mdxg-q22025pressreleasev001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MIMEDX Announces Record Second Quarter 2025 Operating and Financial Results Highest Quarterly Net Sales in MIMEDX History Second Quarter Net Sales of $99 million Grew 13% Year-Over-Year Second Quarter GAAP Net Income and Diluted Earnings Per Share were $10 Million and $0.06, Respectively Second Quarter Adjusted EBITDA was $24 Million, or 25% of Net Sales Raises 2025 Net Sales Growth Expectations Management to Host Conference Call Today, July 30, 2025, at 4:30 PM ET MARIETTA, Ga., July 30, 2025 -- Mimed Group, Inc. (Nasdaq: MDXG) ("MIMEDX" or the "Company"), today announced operating and financial results for the second quarter 2025. Joseph H. Capper, MIMEDX Chief Executive Officer, commented, "We are proud to report on the Company's outstanding second quarter 2025 results, which included top-line net sales growth of 13%. This performance was driven by balanced, double-digit year-over-year growth from our Wound and Surgical franchises to produce our highest ever quarterly net sales. Additionally, our continued expense discipline and operational efficiency contributed to a record Adjusted EBITDA and a increase of $12 million for an ending cash balance of $119 million. Our commercial momentum gives us confidence that we will now be in a position to deliver net sales growth in the low double-digits for the full year." Mr. Capper continued, "Earlier this month, Centers for Medicare and Medicaid Services ("CMS") introduced a sweeping proposal to overhaul reimbursement of skin substitutes next year in both the private office and hospital outpatient settings. We welcome and support reform in the category and look forward to engaging with CMS during the comment period to ensure the system brings rational behavior, drives enormous cost savings and prioritizes patient care." Second Quarter 2025 Results Discussion Net Sales MIMEDX reported net sales for the three months ended June 30, 2025, of $99 million, compared to $87 million for the three months ended June 30, 2024, an increase of 13%. The increase was primarily driven

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![](mdxg-q22025pressreleasev002.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by Wound product sales growth of 12% compared to the prior year period, driven in part by sales of our newer products, CELERA™ and EMERGE™. Additionally, net sales of our Surgical products increased 15% compared to the prior year period, including double-digit growth of AMNIOFIX®, AMNIOEFFECT® and accelerating contributions from HELIOGEN™. Gross Profit and Margin Gross profit for the three months ended June 30, 2025, was $80 million, compared to $72 million the prior year period. Gross margin for the three months ended June 30, 2025 was 81%, compared to 83% in the prior year period. The year-over-year decrease in gross margin was driven by production variances and product mix. Operating Expenses Selling, general and administrative ("SG&A") expenses for the three months ended June 30, 2025, were $64 million compared to $55 million for the three months ended June 30, 2024. The increase in SG&A was driven primarily by year-over-year increases in commissions due to greater sales and higher sales costs as well as increased legal expenses. Research and development ("R&D") expenses for the three months ended June 30, 2025 and 2024, were $3 million. R&D spend in the quarter was driven, in part, by the randomized controlled trial for EPIEFFECT® and ongoing investments in the development of future products in our pipeline. Net Income Net income for the three months ended June 30, 2025 was $10 million compared to $18 million for the three months ended June 30, 2024. Notably, the prior year period benefited from a one-time $9.3 million settlement benefit. Cash and Cash Equivalents As of June 30, 2025, the Company had $119 million of cash and cash equivalents compared to $104 million as of December 31, 2024. As of June 30, 2025, our cash position, net of debt on our balance sheet, was $100 million. Financial Outlook For 2025, MIMEDX now expects net sales growth to be in the low double-digits as a percentage compared to 2024. 2025 Adjusted EBITDA margin is expected to be above 20% on a full year basis. Longer-term, the Company continues to expect to achieve annual net sales growth in the low double- digits as a percentage with an adjusted EBITDA margin above 20%. Conference Call and Webcast

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![](mdxg-q22025pressreleasev003.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MIMEDX will host a conference call and webcast to review its second quarter 2025 results on Wednesday, July 30, 2025, beginning at 4:30 p.m., Eastern Time. The call can be accessed using the following information: Webcast: Click here U.S. Investors: 877-407-6184 International Investors: 201-389-0877 Conference ID: 13754722 A replay of the webcast will be available for approximately 30 days on the Company's website at www.mimedx.com following the conclusion of the event. Important Cautionary Statement This press release includes forward-looking statements, including statements regarding (i) our 2025 and longer term financial goals and expectations for future financial results, including net sales growth and Adjusted EBITDA margin; and (ii) our expectations regarding regulatory actions. Additional forward- looking statements may be identified by words such as "believe," "expect," "may," "plan," "goal," "outlook," "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: (i) future sales are uncertain and are affected by competition, access to customers, patient access to healthcare providers, the reimbursement environment and many other factors; (ii) the Company may change its plans due to unforeseen circumstances; (iii) the results of scientific research are uncertain and may have little or no value; (iv) our ability to sell our products in other countries depends on a number of factors including adequate levels of reimbursement, market acceptance of novel therapies, and our ability to build and manage a direct sales force or third party distribution relationship; (v) the effectiveness of amniotic tissue as a therapy for particular indications or conditions is the subject of further scientific and clinical studies; (vi) we may alter the timing and amount of planned expenditures for research and development based on regulatory developments; (vii) Medicare spending; and (viii) changes in the size of the addressable market for our products. The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed

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![](mdxg-q22025pressreleasev004.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and the Company assumes no obligation to update any forward-looking statement. About MIMEDX MIMEDX is a pioneer and leader focused on helping humans heal. With more than a decade of helping clinicians manage chronic and other hard-to-heal wounds, MIMEDX is dedicated to providing a leading portfolio of products for applications in the wound care, burn, and surgical sectors of healthcare. The Company's vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life. For additional information, please visit www.mimedx.com. Contact: Matt Notarianni Investor Relations 470.304.7291 mnotarianni@mimedx.com Selected Unaudited Financial Information

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![](mdxg-q22025pressreleasev005.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MiMedx Group, Inc. Condensed Consolidated Balance Sheets (in thousands) Unaudited June 30, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $118,869 $104,416 Accounts receivable, net 69,228 55,828 Inventory 24,890 23,807 Prepaid expenses 4,863 5,018 Other current assets 3,026 2,817 Total current assets 220,876 191,886 Property and equipment, net 5,390 5,944 Right of use asset 4,987 5,606 Deferred tax asset, net 27,397 28,306 Goodwill 19,441 19,441 Intangible assets, net 12,028 11,626 Other assets 990 $1,106 Total assets $291,109 $263,915 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long term debt 1,250 1,000 Accounts payable 8,499 7,409 Accrued compensation 22,025 23,667 Accrued expenses 15,105 9,012 Other current liabilities 3,411 4,507 Total current liabilities 50,290 45,595 Long term debt, net 17,211 17,830 Other liabilities 6,984 7,383 Total liabilities $74,485 $70,808 Total stockholders' equity 216,624 193,107 Total liabilities and stockholders' equity $291,109 $263,915

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![](mdxg-q22025pressreleasev006.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MiMedx Group, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share amounts) Unaudited Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net sales $98,605 $87,207 $186,810 $171,915 Cost of sales 18,681 14,855 35,239 27,841 Gross profit 79,924 72,352 151,571 144,074 Operating expenses: Selling, general and administrative 64,151 55,401 124,120 110,530 Research and development 3,303 3,012 6,632 5,852 Investigation, restatement and related — (9,701) — (9,390) Amortization of intangible assets 100 190 199 379 Impairment of intangible assets — — — 54 Operating income 12,370 23,450 20,620 36,649 Other expense, net Interest income (expense), net 738 3 1,244 (1,687) Other expense, net (101) (237) (247) (336) Income from continuing operations before income tax 13,007 23,216 21,617 34,626 Income tax provision (3,389) (5,595) (4,978) (7,944) Net income from continuing operations 9,618 17,621 16,639 26,682 Income from discontinued operations, net of tax — 4 — 204 Net income $9,618 $17,625 $16,639 $26,886 Basic net income per common share: Continuing operations $0.07 $0.12 $0.11 $0.18 Discontinued operations — 0.00 — 0.00 Basic net income per common share $0.07 $0.12 $0.11 $0.18 Diluted net income per common share: Continuing operations $0.06 $0.12 $0.11 $0.18 Discontinued operations — 0.00 — 0.00 Diluted net income per common share $0.06 $0.12 $0.11 $0.18 Weighted average common shares outstanding - basic 147,761,332 147,326,273 147,518,179 147,033,879 Weighted average common shares outstanding - diluted 149,317,281 148,897,920 149,529,544 149,211,012

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![](mdxg-q22025pressreleasev007.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MiMedx Group, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) Unaudited Six Months Ended June 30, 2025 2024 Net cash flows provided by operating activities from continuing operations 19,718 28,722 Net cash flows used in operating activities of discontinued operations — (930) Net cash flows provided by operating activities $19,718 $27,792 Net cash flows used in investing activities (1,293) (6,929) Net cash flows used in financing activities (3,972) (33,826) Net change in cash $14,453 $(12,963) Reconciliation of Non-GAAP Measures In addition to our GAAP results, we provide certain non-GAAP measures including Adjusted EBITDA and related margins, Free Cash Flow, Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income, and Adjusted Earnings Per Share ("Adjusted EPS"). We believe that the presentation of these measures provides important supplemental information to management and investors regarding our performance. These measures are not a substitute for GAAP measures. Company management uses these non-GAAP measures as aids in monitoring our ongoing financial performance from quarter-to-quarter and year-to- year on a regular basis and for benchmarking against comparable companies. These non-GAAP financial measures reflect the exclusion of the following items: • Share-based compensation expense - expense recognized related to awards to employees and our board of directors issued pursuant to our share-based compensation plans. This expense is reflected amongst cost of sales, research and development expense, and selling, general, and administrative expense in the unaudited condensed consolidated statements of operations. • Impairment of intangible assets - reflects the impairment of intangibles. This expense is reflected in the line of the same name in our unaudited condensed consolidated statements of operations. • Strategic legal and regulatory expenses - relates to litigation and regulatory expenses deemed strategically important to our operations. Litigation expenses incurred relate to suits filed against former employees and their employers for violation of non-compete and non-solicitation agreements and certain patent infringement matters. Regulatory expenses relate to legal fees incurred stemming from action taken against the United States Food & Drug Administration ("FDA") surrounding the designation of one of our products.

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![](mdxg-q22025pressreleasev008.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Loss on extinguishment of debt - reflects the excess of cash paid to extinguish debt over the carrying value of the debt on our balance sheet upon the repayment and termination of a loan agreement. Amounts in this line reflect (i) prepayment premium paid and (ii) write-offs of unamortized original issue discount and deferred financing costs. These expenses are reflected as a component of interest income (expense), net in our unaudited condensed consolidated statements of operations. • Expenses related to the disbanding of Regenerative Medicine - incremental expenses recognized or incurred directly as a result of our announcement to disband our Regenerative Medicine segment. These expenses ceased in Q3 2024. • Amortization of acquired intangible assets - reflects amortization expense recognized solely related to assets which were acquired as part of a transaction. These expenses are reflected in cost of sales in our consolidated statements of operations. • Reorganization expense - expenses incurred toward the realignment of our operating strategy. These expenses primarily relate to severance expenses related to certain executive leaders. These expenses are reflected as a component of selling, general, and administrative expense in the unaudited condensed consolidated statements of operations. • Investigation, restatement and related benefit - expenses incurred toward the legal defense of the Company and advanced on behalf of former officers and directors, net of negotiated reductions and settlements of amounts previously advanced, related to certain legal matters. This expense is reflected in the line of the same name in our unaudited condensed consolidated statements of operations. • Income Tax Adjustment - for purposes of calculating Adjusted Net Income and Adjusted Earnings Per Share, reflects our expectation of a long-term effective tax rate, which is normalized and balance sheet-agnostic. Actual tax expense will be based on GAAP earnings, and may differ from the expected long-term effective tax rate due to a variety of factors, including the tax treatment of various transactions included in GAAP net income and other reconciling items that are excluded in determining Adjusted Net Income and Adjusted EPS. The actual long-term normalized effective tax rate was 25% for each of the quarters and year-to-date periods ended June 30, 2025 and 2024.

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![](mdxg-q22025pressreleasev009.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted EBITDA and Adjusted EBITDA margin Adjusted EBITDA consists of GAAP net income excluding (i) depreciation expense, (ii) amortization of intangible assets, (iii) interest (income) expense, net, (iv) income tax provision, (v) share-based compensation, (vi) investigation, restatement and related expenses, (vii) impairment of intangible assets, (viii) transaction-related expenses, (ix) strategic legal and regulatory expenses, (x) expenses related to disbanding of Regenerative Medicine Business Unit, and (xi) reorganization expenses. Please refer to the tables at the beginning of this press release for reconciliation to GAAP net income. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net Income $9,618 $17,625 $16,639 $26,886 Non-GAAP Adjustments: Depreciation expense 563 577 1120 1,135 Amortization of intangible assets 2,606 572 5,252 761 Interest (income) expense, net (738) (3) (1,244) 1,687 Income tax provision 3,389 5,595 4,978 7,944 Share-based compensation 4,754 4,091 9,014 8,431 Investigation, restatement and related benefit — (9,701) — (9,390) Impairment of intangible assets — — — 54 Transaction related expenses 633 484 640 556 Strategic legal and regulatory expenses 2,530 581 4,175 631 Expenses related to disbanding of Regenerative Medicine Business Unit — (4) — (204) Reorganization expenses 826 — 826 — Adjusted EBITDA 24,181 19,817 41,400 38,491 Adjusted EBITDA margin 24.5 % 22.7 % 22.2 % 22.4 % Adjusted Net Income Adjusted Net Income provides a view of our operating performance, exclusive of certain items which are non-recurring or not reflective of our core operations. Adjusted Net Income is defined as GAAP net income plus (i) loss on extinguishment of debt, (ii) investigation restatement and related benefit, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) strategic legal and regulatory expenses, (vi) transaction-related expenses, (vii) expenses related to disbanding of our Regenerative Medicine business unit, (viii) reorganization expenses, and (ix) the long-term effective income tax rate adjustment.

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![](mdxg-q22025pressreleasev010.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A reconciliation of GAAP net income to Adjusted Net Income appears in the table below (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income $9,618 $17,625 $16,639 $26,886 Loss on extinguishment of debt — — — 1,401 Investigation, restatement and related benefit — (9,701) — (9,390) Impairment of intangible assets — — — 54 Amortization of acquired intangible assets 2,506 382 5,053 382 Strategic legal and regulatory expenses 2,530 581 4,175 631 Transaction related expenses 633 484 640 556 Expenses related to disbanding of Regenerative Medicine Business Unit — (4) — (204) Reorganization expenses 826 — 826 — Long-term effective income tax rate adjustment (1,487) 1,855 (3,100) 879 Adjusted net income $14,626 $11,222 $24,233 $21,195 A reconciliation of various line items included in our GAAP unaudited condensed consolidated statements of operations to Adjusted Net Income for the three months ended June 30, 2025 and 2024 are presented in the tables below (in thousands): Three Months Ended June 30, 2025 Gross Profit Selling, General & Administrative Expense Research and Development Expense Net Income Reported GAAP Measure $79,924 $64,151 $3,303 $9,618 Amortization of acquired intangible assets 2,506 — — 2,506 Strategic legal and regulatory expenses — (2,530) — 2,530 Transaction related expenses — (565) — 633 Reorganization expenses — (826) — 826 Long-term effective income tax rate adjustment — — — (1,487) Non-GAAP Measure $82,430 $60,230 $3,303 $14,626 Gross Profit Margin 81.1 % Gross Profit Margin, as adjusted 83.6 %

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![](mdxg-q22025pressreleasev011.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Three months ended June 30, 2024 Gross Profit Selling, General & Administrative Expense Research and Development Expense Net Income Reported GAAP Measure $72,352 $55,401 $3,012 $17,625 Investigation, restatement and related expenses — — — (9,701) Amortization of acquired intangible assets 382 — — 382 Transaction related expenses — (414) — 484 Strategic legal and regulatory expenses — (581) — 581 Expenses related to disbanding of Regenerative Medicine Business Unit — — — (4) Long-term effective income tax rate adjustment — — — 1,855 Non-GAAP Measure $72,734 $54,406 $3,012 $11,222 Gross Profit Margin 83.0 % Gross Profit Margin, as adjusted 83.4 % Six Months Ended June 30, 2025 Gross Profit Selling, General & Administrative Expense Research and Development Expense Net Income Reported GAAP Measure 151,571 124,120 6,632 $16,639 Amortization of acquired intangible assets 5,053 — — 5,053 Strategic legal and regulatory expenses — (4,175) — 4,175 Transaction related expenses — (565) — 640 Reorganization expenses (826) 826 Long-term effective income tax rate adjustment — — — (3,100) Non-GAAP Measure 156,624 $118,554 $6,632 $24,233 Gross Profit Margin 81.1 % Gross Profit Margin, as adjusted 83.8 %

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![](mdxg-q22025pressreleasev012.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months Ended June 30, 2024 Gross Profit Selling, General & Administrative Expense Research and Development Expense Net Income Reported GAAP Measure 144,074 110,530 5,852 $26,886 Loss on extinguishment of debt — — — 1,401 Investigation, restatement and related benefit — — — (9,390) Impairment of intangible assets — — — 54 Amortization of acquired intangibles 382 — — 382 Transaction related expenses — (486) — 556 Strategic legal and regulatory expenses — (631) — 631 Expenses related to disbanding of Regenerative Medicine Business Unit — — — (204) Long-term effective income tax rate adjustment — — — 879 Non-GAAP Measure $144,456 $109,413 $5,852 $21,195 Gross Profit Margin 83.8 % Gross Profit Margin, as adjusted 84.0 % Adjusted Earnings Per Share Adjusted Earnings Per Share is intended to provide a normalized view of earnings per share by removing items that may be irregular, one-time, or non-recurring from net income. This enables us to identify underlying trends in our business that could otherwise be masked by such items. Adjusted Earnings Per Share consists of GAAP diluted net income per common share including adjustments for (i) loss on extinguishment of debt, (ii) investigation restatement and related benefit, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) strategic legal and regulatory expenses, (vi) transaction-related expenses, (vii) expenses related to disbanding of our Regenerative Medicine business unit, (viii) reorganization expenses, and (ix) the long-term effective income tax rate adjustment. A reconciliation of GAAP diluted earnings per share to Adjusted Earnings Per Share appears in the table below (per diluted share):

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![](mdxg-q22025pressreleasev013.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP net income per common share - diluted 0.06 $0.12 0.11 $0.18 Loss on extinguishment of debt 0.00 0.00 0.00 0.01 Investigation, restatement and related benefit 0.00 (0.07) 0.00 (0.06) Amortization of acquired intangible assets 0.02 0.00 0.03 0.00 Transaction related expenses 0.00 0.01 0.00 0.00 Strategic legal and regulatory expenses 0.02 0.01 0.03 0.00 Reorganization expenses 0.01 0.00 0.01 0.00 Long-term effective income tax rate adjustment (0.01) 0.01 (0.02) 0.01 Adjusted Earnings Per Share $0.10 $0.08 $0.16 $0.14 Weighted average common shares outstanding - adjusted 149,317,281 148,897,920 149,529,544 149,211,012 Free Cash Flow Free Cash Flow is intended to provide a measure of our ability to generate cash in excess of capital investments. It provides management with a view of cash flows which can be used to finance operational and strategic investments. Free Cash Flow is defined as net cash provided by operating activities less capital expenditures, including purchases of equipment. A reconciliation of GAAP net cash flows provided by operating activities to Free Cash Flow appears in the table below (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net cash flows provided by operating activities $14,419 $21,814 19,718 27,792 Capital expenditures, including purchases of equipment (179) (105) (556) (1,249) Free Cash Flow $14,240 $21,709 $19,162 $26,543 Net Sales by Product Category by Quarter Below is a summary of net sales by product category (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Wound $64,476 $57,547 $120,549 $114,595 Surgical 34,129 29,660 66,261 57,320 Net sales $98,605 $87,207 $186,810 $171,915

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## Exhibit 99.2

![](q2_25mdxgccdeckvfinal001.jpg)

Financial Results Conference Call July 30, 2025 Q2:2025

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![](q2_25mdxgccdeckvfinal002.jpg)

Disclaimer & Cautionary Statements This presentation and our earnings call includes forward-looking statements. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Such forward-looking statements include statements regarding: • Our growth expectations in 2025 and beyond, including our growth in surgery, increased funding in targeted research and expandedproduct portfolio; • Expected results of research and development, including that our efforts will innovate and diversify our product portfolio; • Placental-derived products and their potential clinical benefits; • EPIEFFECT enrollment; • Expectations regarding the reimbursement environment for the Company's products, including Medicare Spending; • Expectations regarding HELIOGEN and AMNIOEFFECTdriving Surgical growth; • the future of CELERA and EMERGE'sand their impact on our financial results; • 2025 guidance, including revenue growth, adjusted EBITDA margin, gross margin, sales and marketing expenses, G&A expenses, R&D expenses and year end cash balance; • Longer term guidance, including net sales growth and adjusted EBITDA margins; • Our ability to manage Private Office dynamics, including adjusting our strategy to remain competitive; and • The Company's long-term strategy and goals for value creation, the status of its pipeline products, expectations for future products, and expectations for future growth and profitability. Additional forward-looking statements may be identified by words such as "believe," "expect," "may," "plan," "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: • Future sales are uncertain and are affected by competition, access to customers, patient access to hospitals and healthcare providers, the reimbursement environment and many other factors; • The future market for the Company's products can depend on regulatory approval of such products, which might not occur at all or when expected, and is based in part on assumptions regarding the number of patients who elect less acute and more acute treatment than the Company's products, market acceptance of the Company's products, and adequate reimbursement for such therapies; • The process of obtaining regulatory clearances or approvals to market a biological product or medical device from the FDA or similar regulatory authorities outside of the U.S. is costly and time consuming, and such clearances or approvals may not be granted on a timely basis, or at all, and the ability to obtain the rights to market additional, suitable products depends on negotiations with third parties which may not be forthcoming; and • The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this presentation and the Company assumes no obligation to update any forward-looking statement. Q2:25 Financial Results Conference Call 2

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![](q2_25mdxgccdeckvfinal003.jpg)

Opening Remarks Joseph H. Capper, Chief Executive Officer 3Q2:25 Financial Results Conference Call

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![](q2_25mdxgccdeckvfinal004.jpg)

Q2:25 Highlights – A Record Performance Q2:25 Financial Results Conference Call 4 Net Sales $99MM +13% YoY GAAP Gross Margin & Adjusted Gross Margin1 81% & 84% GAAP Net Income $10MM Adj. EBITDA1 $24MM 25% of net sales Free Cash Flow1 $14MM 1) Adjusted Gross Margin, Free Cash Flow, Adjusted EBITDA and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. Surgical Growth +15% YoY Q2:25 Cash $119MM

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![](q2_25mdxgccdeckvfinal005.jpg)

Strategic Priorities Position Us to Win in 2025 & Beyond Q2:25 Financial Results Conference Call 5 Innovate & Diversify Product Portfolio to Maximize Growth Develop & Deploy Programs to Expand Surgical Footprint Enhance Customer Intimacy Enrollment continues for EPIEFFECT RCT with plans for interim report out Received TRG letter for our latest innovation, EPIXPRESS, clearing way for launch later this year Pilot programs underway for non-skin substitute Wound products, including with Vaporox Study on cost effectiveness of using MIMEDX products following Mohs surgery published in May in Journal of Drugs in Dermatology AMNIOFIX & AMNIOEFFECT continues to see strong uptake in surgical setting HELIOGEN sales accelerating with promising trajectory Evolving market dynamics place greater importance on comprehensive value offering, providing opportunity for MIMEDX Connect to drive stickiness Continue to develop programs and initiatives to further drive customer intimacy 1 2 3

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![](q2_25mdxgccdeckvfinal006.jpg)

Medicare Reform Expected to Transform Category in 2026 Q2:25 Financial Results Conference Call 6 LCDs in all MAC regions are scheduled for implementation on Jan. 1, 2026, requiring RCT data for coverage of skin substitutes PFS and OPPS proposed rules scheduled for implementation on Jan. 1, 2026, aligning payment model in private office and hospital outpatient settings with $125.38/cm2 price cap on skin substitutes Wasteful and Inappropriate Service Reduction "WISeR" model introduced to reduce clinically unsupported care by increasing oversight and review for Medicare services MIMEDX uniquely positioned for continued success with best-in-class, well-studied product portfolio Explosive Medicare spend in the category driven primarily by fraud, waste and abuse Dozens of new companies selling expensive, unproven products in the private office and associated care settings Medicare spend for skin substitutes balloons to nearly $10 billion in 2024, up from approximately $500 million in 2020 Prices reach $4,000/cm2 on ASP list, attracting national attention and CMS, OIG and DOJ scrutiny 2020 - 2025 2026 & Beyond

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![](q2_25mdxgccdeckvfinal007.jpg)

Increasing Full Year 2025 Net Sales Outlook Q2:25 Financial Results Conference Call 7 Full Year 2025\* Long-Term Net Sales % Growth Adjusted EBITDA Margin Above 20%Profitability Low double-digits vs. 2024 Low double-digits Reaffirming 2025 Adjusted EBITDA Margin & Long-Term Financial Goals \*2025 Outlook provided as of July 30, 2025. Actual results may differ.

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![](q2_25mdxgccdeckvfinal008.jpg)

Financial Results Doug Rice, Chief Financial Officer 8Q2:25 Financial Results Conference Call

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![](q2_25mdxgccdeckvfinal009.jpg)

Q2:25 Net Sales Recap Q2:25 Financial Results Conference Call 9 By Product CategoryTotal Net Sales $87MM $99MM Q2:24 Q2:25 $58MM $64MM $30MM $34MM Q2:24 Q2:25 Wound Surgical +12% yoy +15% yoy Strong Surgical growth, led by increased and expanding uptake of AMNIOEFFECT, AMNIOFIX and HELIOGEN Wound performance driven by newer products, CELERA and EMERGE Numbers do not sum due to rounding

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![](q2_25mdxgccdeckvfinal010.jpg)

$18MM $11MM $20MM $10MM $15MM $24MM Q2:25 P&L Metrics Q2:25 Financial Results Conference Call 10 $72 $42MM $14 $3MM $80 $48MM $16 $3MM Q2:24 Q2:25 S&M Adj. EBITDA1GAAP Net Income R&D % of net sales 48% 49% 3% 3% % of net sales 20% 10% 23% 25% Adj. Net Income1 13% 15% Gross Profit & Margin 83% 81% 1) Adjusted Gross Margin, Free Cash Flow, EBITDA, Adjusted EBITDA, Adjusted Net Income and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. G&A 16% 17% Continue to deliver solid operational results… …and expense management across the business… …resulting in record Adjusted EBITDA in Q2:25 % of net sales Adj. Gross Margin1 83% 84%

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![](q2_25mdxgccdeckvfinal011.jpg)

Q2:25 Balance Sheet & Cash Flows Q2:25 Financial Results Conference Call 11 Net Cash Balance Has Increased $50MM in the Last Year 1) Free Cash Flow is a non-GAAP financial measure. See the Appendix for a reconciliation to the nearest GAAP measure. $50MM $70MM $86MM $88MM $100MM Q2:24 Q3:24 Q4:24 Q1:25 Q2:25 $14MM Q2:25 Free Cash Flow1 continues our trend of strong Free Cash Flow conversion, bolstering our balance sheet and allowing us to evaluate and pursue opportunities to unlock shareholder value

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![](q2_25mdxgccdeckvfinal012.jpg)

Joseph H. Capper, Chief Executive Officer 12Q2:25 Financial Results Conference Call Additional Commentary & Closing Remarks

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![](q2_25mdxgccdeckvfinal013.jpg)

Q2:25 Summary Q2:25 Financial Results Conference Call 13 Net Sales $99 million +13% YoY Adjusted EBITDA1 $24 million 25% of net sales 1) Adjusted Gross Margin, Free Cash Flow, EBITDA, Adjusted EBITDA and related margins are non-GAAP financial measures. See Appendix for a reconciliation to the nearest GAAP measure.

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![](q2_25mdxgccdeckvfinal014.jpg)

Closing Remarks & Q&A 14Q2:25 Financial Results Conference Call

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![](q2_25mdxgccdeckvfinal015.jpg)

Appendix 15

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![](q2_25mdxgccdeckvfinal016.jpg)

Reconciliation of Non-GAAP Measures In addition to our GAAP results, we provide certain non-GAAP measures including Adjusted EBITDA, related margins, Free Cash Flow, Adjusted Gross Profit, Adjusted Gross Margin and Adjusted Net Income. • Adjusted EBITDA consists of GAAP net income excluding: (i) depreciation, (ii) amortization of intangibles, (iii) interest (income) expense, net, (iv) income tax provision, (v) share-based compensation, (vi) investigation, restatement and related expenses, (vii) expenses related to disbanding of the Regenerative Medicine business unit, (viii) strategic legal and regulatory expenses, (ix) transaction-related expenses, (x) impairment of intangible assets, and (xi) reorganization expenses. • Adjusted Net Income provides a view of our operating performance, exclusive of certain items which are non-recurring or not reflective of our core operations. Adjusted Net Income is defined as GAAP net income plus (i) loss on extinguishment of debt, (ii) investigation restatement and related expenses, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) transaction related expenses, (vi) strategic legal and regulatory expenses, and (vii) expenses related to disbanding of our Regenerative Medicine business unit, and (viii) the long-term effective income tax rate adjustment. 16

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![](q2_25mdxgccdeckvfinal017.jpg)

Reconciliation of Non-GAAP Measures (cont.) • Each of the adjustments to reconcile Adjusted Net Income to GAAP net income affect individual financial statement captions which are reflected in our consolidated statements of operations, including gross profit. Adjusted Gross Profit is therefore defined as GAAP gross profit plus (i) loss on extinguishment of debt, (ii) investigation restatement and related expenses, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) transaction related expenses, (vi) strategic legal and regulatory expenses, and (vii) expenses related to disbanding of our Regenerative Medicine business unit, and (viii) the long-term effective income tax rate adjustment., to the extent that these adjustments impact GAAP gross profit. Adjusted Gross Margin is calculated as Adjusted Gross Profit divided by GAAP net sales. • Free Cash Flow is intended to provide a measure of our ability to generate cash in excess of capital investments. It provides management with a view of cash flows which can be used to finance operational and strategic investments. Free Cash Flow is defined as net cash provided by operating activities less capital expenditures, including purchases of equipment. 17

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![](q2_25mdxgccdeckvfinal018.jpg)

Adjusted Gross Profit & Adjusted Gross Profit Margin 18 Three Months Ended June 30, 2024June 30, 2025Amounts (in millions) $72.4$79.9GAAP gross profit 0.42.5Amortization of acquisition-related intangible assets $72.8$82.4Adjusted Gross Profit 83.5 %83.6 %Adjusted Gross Profit Margin

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![](q2_25mdxgccdeckvfinal019.jpg)

Adjusted EBITDA - QTD 19 June 30, 2024June 30, 2025Amounts (in millions) for the three months ended $17.6$9.6Net income 0.60.6Depreciation expense 0.62.6Amortization of intangible assets —(0.7)Interest income, net 5.63.4Income tax provision 4.14.8Stock-based compensation expense 0.62.5Strategic legal and regulatory expenses —0.8Reorganization expenses 0.50.6Transaction-related expenses (9.7)—Investigation, restatement and related expense $19.8$24.2Adjusted EBITDA 22.7 %24.5 %Adjusted EBITDA margin

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![](q2_25mdxgccdeckvfinal020.jpg)

Adjusted Net Income and Adjusted EPS - QTD 20 June 30, 2024June 30, 2025Amounts (in millions) for the three months ended $17.6$9.6Net income - GAAP 0.42.5Amortization of acquisition-related intangible assets 0.62.5Strategic legal and regulatory expenses (9.7)—Investigation, restatement and related expense 0.50.6Transaction-related expenses —0.8Reorganization expenses 1.9(1.5)Adjustment for income taxes1 $11.2$14.6Adjusted net income 148.9149.3Weighted average common shares outstanding - adjusted (millions)2 $0.08$0.10Adjusted earnings per share (1) Reflects adjustment for a long-term expected tax rate of 25%, roughly equal to the statutory Federal tax rate (21%) plus the Company's state effective tax rate, net of federal benefit (~4%). Calculation does not consider differences in treatment of income and expense items for tax purposes, nor does it consider net operating losses and other deferred tax assets available to the Company.

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![](q2_25mdxgccdeckvfinal021.jpg)

Free Cash Flow 21 Three months ended June 30, 2024June 30, 2025Amounts in millions $21.8$14.4Cash flows from operating activities (0.1)(0.2)Purchases of equipment $21.7$14.2Free Cash Flow

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## Exhibit 99.3

![](mimedxinvestorpresentati001.jpg)

August 2025 Investor Presentation

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![](mimedxinvestorpresentati002.jpg)

Disclaimer & Cautionary Statements This presentation and our earnings call includes forward-looking statements. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Such forward-looking statements include statements regarding: • Growing expansion outside of the U.S.; • Our growth expectations in 2025 and beyond, including our growth in surgery, increased funding in targeted research and expandedproduct portfolio; • Expected results of research and development, including that our efforts will innovate and diversify our product portfolio; • Placental-derived products and their potential clinical benefits; • Expectations regarding the reimbursement environment for the Company's products, including Medicare Spending; • Expectations regarding HELIOGEN and AMNIOEFFECTdriving Surgical growth; • CELERA's impact on retaining business and its impact on our financial results; • Our expectations that we will continue to advocate for Medicare spending reform; • Exposure to tariffs and the anticipation that they will not impact the Company's results; • 2025 full-year revenue growth and Adjusted EBITDA margin, our Long-term non-GAAP effective tax rates and top-line growth post reform in Medicare spending; • Our ability to manage Private Office dynamics, including adjusting our strategy to remain competitive; and • The Company's long-term strategy and goals for value creation, the status of its pipeline products, expectations for future products, and expectations for future growth and profitability Additional forward-looking statements may be identified by words such as "believe," "expect," "may," "plan," "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: • Future sales are uncertain and are affected by competition, access to customers, patient access to hospitals and healthcare providers, the reimbursement environment and many other factors; • The future market for the Company's products can depend on regulatory approval of such products, which might not occur at all or when expected, and is based in part on assumptions regarding the number of patients who elect less acute and more acute treatment than the Company's products, market acceptance of the Company's products, and adequate reimbursement for such therapies; • The process of obtaining regulatory clearances or approvals to market a biological product or medical device from the FDA or similar regulatory authorities outside of the U.S. is costly and time consuming, and such clearances or approvals may not be granted on a timely basis, or at all, and the ability to obtain the rights to market additional, suitable products depends on negotiations with third parties which may not be forthcoming; and • The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this presentation and the Company assumes no obligation to update any forward-looking statement. Investor Presentation – August 2025 2

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![](mimedxinvestorpresentati003.jpg)

A Pioneer and Leader Focused on Helping Humans Heal Investor Presentation – August 2025 3 Over a decade of experience helping clinicians manage chronic and other hard-to-heal wounds Leading the industry with innovative products and robust supporting clinical data Poised to capitalize on favorable market trends to drive top line growth and profitability Our vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life.

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![](mimedxinvestorpresentati004.jpg)

The Most Comprehensive End-to-End Product Ecosystem 4Investor Presentation – August 2025 The most studied portfolio of placental products with 50+ clinical & scientific publications and over 300 million payer covered lives. New product innovations leading to untapped opportunities for growth, including an increasing footprint in the Surgical market. A key partner to healthcare professionals with industry leading support services and customer-focused approach. Large, national placental donation network and proprietary tissue processing.

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![](mimedxinvestorpresentati005.jpg)

Expansive Donor Network & IP Power Our Product Offering 5Investor Presentation – August 2025 National Network of Birthing Center Partners Ample Placental Supply and Manufacturing Capabilities to Support Continued Growth and Industry Demand Expectant Mothers Introduced to Donation Program Consent for Donation Obtained Delivery of Healthy Baby via Caesarean Section Donated Placental Tissues Recovered Tissues Transported to MIMEDX Donor Tissue Tested & Prepared for Manufacturing Proprietary Processing Backed by Broad Portfolio of Intellectual Property Proprietary Processing & Terminal Sterilization of Tissues Shelf-Stable, Packaged Product Available to Ship Robust IP Estate with 200+ Patents Significant Opportunity for Continued Scale

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![](mimedxinvestorpresentati006.jpg)

Addressing a Large and Unmet Need for Healing Solutions Investor Presentation – August 2025 6 Favorable Demographic Trends Increasing Clinical Evidence Expanding Potential For Products 1) Sen CK. Human Wound and Its Burden: Updated 2022 Compendium of Estimates. Adv Wound Care (New Rochelle). 2023;12(12):657-670. 2) Tettelbach WH, et al. Cost-effectiveness of dehydrated human amnion/chorion membrane allografts in lower extremity diabetic ulcer treatment. J Wound Care. 2022 Feb 1;31(Sup2):S10-S31. Ineffective Wound Management Leads to Poor Outcomes When applied following parameters for use, patients treated with EPIFIX® experienced reductions in major amputations and hospital utilization.2 It is estimated that up to 85% of amputations are avoidable with a holistic multispecialty team approach that incorporates innovative treatments and adherence to treatment parameters.2 Population suffering from chronic, non- healing wounds in the U.S.1, including diabetic foot ulcers (DFUs), venous leg ulcers (VLUs), pressure ulcers and more. Population is impacted by chronic wounds— and this proportion is increasing.1 Advances Driving Improved Outcomes for Wound Patients Emerging Opportunities in Surgical Setting MIMEDX products are available in all settings where patients receive care, increasingly used in a variety of surgical settings, representing incremental market opportunities. 10+ million people ~16% of Medicare beneficiaries

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![](mimedxinvestorpresentati007.jpg)

The Patient Journey in Wound Care 7Investor Presentation – August 2025 Private Office Home Health Mobile Health Nursing Facility Assisted Living Facility Wound Care Clinic Hospital Outpatient Hospital Inpatient …and other care settings Mohs surgery Burn/Trauma DFU VLU Limb Salvage Dehiscence Acute Wounds Chronic Wounds Complex Wounds MIMEDX products are available throughout the continuum of care and are used on a range of chronic and other hard-to-heal wounds.

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![](mimedxinvestorpresentati008.jpg)

Surgical Studies Underway Highlight Product Versatility 8Investor Presentation – August 2025 Published May 2025 Journal of Drugs in Dermatology Manuscript Pending RCT Enrollment Underway RCT Enrollment Underway Generating Clinical Data in Numerous Surgical Disciplines Incorporating Use of MIMEDX Products EPIFIX in Mohs (HECON) AMNIOFIX in GI Anastomosis AMNIOFIX in Liver Transplant AMNIOFIX in Breast Reduction AMNIOEFFECT in High-Risk Vascular E-Published April 2025 Vascular

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![](mimedxinvestorpresentati009.jpg)

Highlights from Our Expanding Product Portfolio 9Investor Presentation – August 2025 Innovative Wound Products Growing Surgical Offering Expanding into Xenografts

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![](mimedxinvestorpresentati010.jpg)

Large Wound Care Business with Growing Surgical Footprint 10Investor Presentation – August 2025 $0 $50,000 $100,000 $150,000 $200,000 $250,000 $0 00 s LTM Surgical Performance LTM @ Q2:24 LTM @ Q2:25 $0 $50,000 $100,000 $150,000 $200,000 $250,000 $0 00 s LTM Wound Performance LTM @ Q2:24 LTM @ Q2:25 65% 35% LTM Sales Mix by Product Type Wound Surgical +7% +7%

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![](mimedxinvestorpresentati011.jpg)

$50MM $70MM $86MM $88MM $100MM Q2:24 Q3:24 Q4:24 Q1:25 Q2:25 Financial Highlights 11Investor Presentation – August 2025 LTM GAAP Gross Margin 81% LTM Net Sales $364MM +7% year-over-year LTM GAAP Net Income $32MM LTM Adjusted EBITDA1 $79MM 22% of net sales LTM Free Cash Flow $57MM Net Cash Balance $100MM Doubled vs. Q2:24 Doubled Net Cash Balance Since Q2:24 to Reach $100MM Quarterly Net Cash Balance 1) EBITDA, Adjusted EBITDA, related margins and Free Cash Flow are non-GAAP financial measures. See our Earnings Release for the quarter ended June 30, 2025 for a reconciliation to the nearest GAAP measure.

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![](mimedxinvestorpresentati012.jpg)

Medicare Reform Expected to Transform Category in 2026 Investor Presentation – August 2025 12 LCDs in all MAC regions are scheduled for implementation on Jan. 1, 2026, requiring RCT data for coverage of skin substitutes PFS and OPPS proposed rules scheduled for implementation on Jan. 1, 2026, aligning payment model in private office and hospital outpatient settings with $125.38/cm2 price cap on skin substitutes Wasteful and Inappropriate Service Reduction "WISeR" model introduced to reduce clinically unsupported care by increasing oversight and review for Medicare services MIMEDX uniquely positioned for continued success with best-in-class, well-studied product portfolio Explosive Medicare spend in the category driven primarily by fraud, waste and abuse Dozens of new companies selling expensive, unproven products in the private office and associated care settings Medicare spend for skin substitutes balloons to nearly $10 billion in 2024, up from approximately $500 million in 2020 Prices reach $4,000/cm2 on ASP list, attracting national attention and CMS, OIG and DOJ scrutiny 2020 - 2025 2026 & Beyond

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![](mimedxinvestorpresentati013.jpg)

Strategic Priorities Position Us to Win in 2025 & Beyond Investor Presentation – August 2025 13 Innovate & Diversify Product Portfolio to Maximize Growth Develop & Deploy Programs to Expand Surgical Footprint Enhance Customer Intimacy Enrollment continues for EPIEFFECT RCT with plans for interim report out Received TRG letter for our latest innovation, EPIXPRESS, clearing way for launch later this year Pilot programs underway for non-skin substitute Wound products, including with Vaporox Study on cost effectiveness of using MIMEDX products following Mohs surgery published in May in Journal of Drugs in Dermatology AMNIOFIX & AMNIOEFFECT continues to see strong uptake in surgical setting HELIOGEN sales accelerating with promising trajectory Evolving market dynamics place greater importance on comprehensive value offering, providing opportunity for MIMEDX Connect to drive stickiness Continue to develop programs and initiatives to further drive customer intimacy 1 2 3

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![](mimedxinvestorpresentati014.jpg)

Experienced, Skillful Leadership Team Executing Strategy Investor Presentation – August 2025 Prior Roles Include: Management Team with Track Record of Success in MedTech Joe Capper Chief Executive Officer Doug Rice Chief Financial Officer Butch Hulse Chief Administrative Officer & General Counsel Kim Moller Chief Commercial Officer Ricci Whitlow Chief Operating Officer John Harper, Ph.D. Chief Scientific Officer & SVP, R&D Matt Notarianni Head of IR 14

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![](mimedxinvestorpresentati015.jpg)

Conclusion Investor Presentation – August 2025 15 1 2 3 4 Large & expanding addressable markets Maturing reimbursement & regulatory landscape 5 Competitive advantage with innovative products, defensible IP and proprietary technology Strong & improving financial profile & balance sheet Experienced & skillful leadership team more than capable of executing strategy

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![](mimedxinvestorpresentati016.jpg)

Appendix 16

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![](mimedxinvestorpresentati017.jpg)

Reconciliation of Non-GAAP Measures In addition to our GAAP results, we provide certain non-GAAP measures including Adjusted EBITDA, related margins, Free Cash Flow, Adjusted Gross Profit, Adjusted Gross Margin and Adjusted Net Income. • Adjusted EBITDA consists of GAAP net income excluding: (i) depreciation, (ii) amortization of intangibles, (iii) interest (income) expense, net, (iv) income tax provision, (v) share-based compensation, (vi) investigation, restatement and related expenses, (vii) expenses related to disbanding of the Regenerative Medicine business unit, (viii) strategic legal and regulatory expenses, (ix) transaction-related expenses, (x) impairment of intangible assets, and (xi) reorganization expenses. • Adjusted Net Income provides a view of our operating performance, exclusive of certain items which are non-recurring or not reflective of our core operations. Adjusted Net Income is defined as GAAP net income plus (i) loss on extinguishment of debt, (ii) investigation restatement and related expenses, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) transaction related expenses, (vi) strategic legal and regulatory expenses, and (vii) expenses related to disbanding of our Regenerative Medicine business unit, and (viii) the long-term effective income tax rate adjustment. 17

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![](mimedxinvestorpresentati018.jpg)

Reconciliation of Non-GAAP Measures (cont.) • Each of the adjustments to reconcile Adjusted Net Income to GAAP net income affect individual financial statement captions which are reflected in our consolidated statements of operations, including gross profit. Adjusted Gross Profit is therefore defined as GAAP gross profit plus (i) loss on extinguishment of debt, (ii) investigation restatement and related expenses, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) transaction related expenses, (vi) strategic legal and regulatory expenses, and (vii) expenses related to disbanding of our Regenerative Medicine business unit, and (viii) the long-term effective income tax rate adjustment., to the extent that these adjustments impact GAAP gross profit. Adjusted Gross Margin is calculated as Adjusted Gross Profit divided by GAAP net sales. • Free Cash Flow is intended to provide a measure of our ability to generate cash in excess of capital investments. It provides management with a view of cash flows which can be used to finance operational and strategic investments. Free Cash Flow is defined as net cash provided by operating activities less capital expenditures, including purchases of equipment. 18

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![](mimedxinvestorpresentati019.jpg)

Adjusted Gross Profit & Adjusted Gross Profit Margin 19 Three Months Ended June 30, 2024June 30, 2025Amounts (in millions) $72.4$79.9GAAP gross profit 0.42.5Amortization of acquisition-related intangible assets $72.8$82.4Adjusted Gross Profit 83.5 %83.6 %Adjusted Gross Profit Margin

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![](mimedxinvestorpresentati020.jpg)

Adjusted EBITDA - QTD 20 June 30, 2024June 30, 2025Amounts (in millions) for the three months ended $17.6$9.6Net income 0.60.6Depreciation expense 0.62.6Amortization of intangible assets —(0.7)Interest income, net 5.63.4Income tax provision 4.14.8Stock-based compensation expense 0.62.5Strategic legal and regulatory expenses —0.8Reorganization expenses 0.50.6Transaction-related expenses (9.7)—Investigation, restatement and related expense $19.8$24.2Adjusted EBITDA 22.7 %24.5 %Adjusted EBITDA margin

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![](mimedxinvestorpresentati021.jpg)

Adjusted Net Income and Adjusted EPS - QTD 21 June 30, 2024June 30, 2025Amounts (in millions) for the three months ended $17.6$9.6Net income - GAAP 0.42.5Amortization of acquisition-related intangible assets 0.62.5Strategic legal and regulatory expenses (9.7)—Investigation, restatement and related expense 0.50.6Transaction-related expenses —0.8Reorganization expenses 1.9(1.5)Adjustment for income taxes1 $11.2$14.6Adjusted net income 148.9149.3Weighted average common shares outstanding - adjusted (millions)2 $0.08$0.10Adjusted earnings per share (1) Reflects adjustment for a long-term expected tax rate of 25%, roughly equal to the statutory Federal tax rate (21%) plus the Company's state effective tax rate, net of federal benefit (~4%). Calculation does not consider differences in treatment of income and expense items for tax purposes, nor does it consider net operating losses and other deferred tax assets available to the Company.

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![](mimedxinvestorpresentati022.jpg)

Free Cash Flow 22 Three months ended June 30, 2024June 30, 2025Amounts in millions $21.8$14.4Cash flows from operating activities (0.1)(0.2)Purchases of equipment $21.7$14.2Free Cash Flow

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