| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 64.36 | 9.1% | 34.7% |
| Total Income | 64.36 | 9.1% | 34.7% |
| Expenditure | 82.83 | 10.4% | 4.0% |
| PBT | -17.78 | 16.0% | 236.7% |
| Net Profit | -14.84 | 36.6% | 254.3% |
| OPM | -28.69% | 1.48pp | 41.24pp |
| NPM | -23.06% | 4.65pp | 32.81pp |
| EPS | -0.10 | 42.9% | 242.9% |
MiMedx Announces Q2 2026 Results, Reports Net Sales of $64 Million, Plans Acquisition
30 Jul 2026 · 30 Jul, 1:43 am
Summary
MiMedx reported second quarter 2026 net sales of $64 million, a 35% decrease year-over-year, primarily due to a significant decline in its Wound business following Medicare reimbursement changes. However, the Surgical franchise showed strength with a 15% increase in revenue. The company incurred a net loss of $15 million for the quarter but reiterated its full-year net sales guidance of $260-290 million and anticipates Adjusted EBITDA to approach breakeven. A major announcement was the agreement to acquire Sanara MedTech for approximately $350 million, which is expected to accelerate growth and shareholder value.
Key Highlights
- 1
MiMedx reported net sales of $64 million for the second quarter of 2026, a decrease of 35% compared to $99 million in the prior year period.
- 2
Surgical product sales increased by 15% year-over-year in Q2 2026, driven by AMNIOFIX® and AMNIOEFFECT®.
- 3
Wound business sales decreased by 61% year-over-year in Q2 2026, negatively impacted by Medicare reimbursement changes.
- 4
Gross margin for Q2 2026 was 69%, down from 81% in the prior year period, primarily due to Medicare reimbursement rules affecting Wound products.
- 5
The company reported a net loss of $15 million for Q2 2026, compared to a net income of $10 million in Q2 2025.
- 6
MiMedx reiterates its full-year 2026 net sales guidance range of $260-290 million and expects Adjusted EBITDA to approach breakeven.
- 7
The company announced a definitive agreement to acquire Sanara MedTech Inc. for approximately $350 million.
Management Comments
Joseph H. Capper
During the second quarter, we delivered another strong performance in our Surgical franchise, with 15% year-over-year revenue growth balanced across our sheet and particulate products. Our sustained momentum in several Surgical settings represents a meaningful, long-term growth opportunity for the Company, and we are focused on expanding into other procedures. Meanwhile, our Wound business saw positive signs of recovery during the quarter as the industry navigates adjustments in the reimbursement landscape and the resulting implications for patient care. On a sequential basis, our overall Wound volume grew 22%, with volume in hospital outpatient departments and wound care centers growing at an even higher rate. This is clear evidence of the shift in behavior we have long predicted and expect to continue, particularly as Medicare remains committed to this new payment structure into 2027. Early in the second quarter, we took swift action to right-size our expense structure for the current market environment, which yielded improving results throughout the quarter, putting us on a path back to profitability for the second half of the year. We're encouraged by our sequential progress in the near-term, and our teams continue to excel at achieving our strategic objectives. To that end, we are reiterating our full-year 2026 net sales guidance range of $260-290 million. Given the momentum of our Surgical franchise and numerous other growth drivers, we believe MIMEDX is optimally positioned to emerge from the current transition stronger than others. Additionally, with today’s announcement to acquire Sanara MedTech, we are accelerating our plan to create long-term success and shareholder value.
Informational and educational content only. Not investment advice.