Quarterly ResultApr 29, 2026, 04:02 PM
MDXG Q1 Net Sales $59M, Down 33%; Revises 2026 Sales Guidance
AI Summary
MIMEDX Group, Inc. reported Q1 2026 net sales of $59 million, a 33% decrease year-over-year, primarily due to new Medicare reimbursement policies significantly impacting its Wound business, which declined 60%. The Surgical business, however, grew 13%. As a result of market disruption, the company revised its full-year 2026 net sales guidance to a range of $260 to $290 million and expects approximately breakeven Adjusted EBITDA. MIMEDX has implemented cost structure adjustments, anticipating $40 million in annualized savings, and expects a return to profitability over the balance of the year and double-digit top-line growth in 2027.
Key Highlights
- MDXG Q1 2026 net sales decreased 33% to $59 million from $88 million in Q1 2025.
- Full-year 2026 net sales guidance revised to $260-$290 million, down from previous expectations.
- Wound business sales declined 60% year-over-year due to new Medicare reimbursement policies.
- Surgical business sales increased 13% year-over-year, driven by AMNIOFIX and AMNIOEFFECT.
- Gross profit for Q1 2026 was $42 million, with gross margin at 71% (down from 81%).
- Net loss for Q1 2026 was $11 million, compared to net income of $7 million in Q1 2025.
- Company expects $40 million in annualized savings from cost structure adjustments.
- Cash and cash equivalents were $160 million as of March 31, 2026.