Q2 2026 MiMedx Group Inc Earnings Call and to Acquire Sanara MedTech Transcript

Jul 29, 2026 / 08:30 PM GMT

Release Date Price: $4.23 (-2.98%)

Transcript 8-K10-Q

Key Points

Positve

MiMedx Group Inc (MDXG) reported strong sequential revenue growth of 9% from Q1 to Q2 2026, with June being the highest net sales month of the year at $24 million.
The surgical business continued its excellent momentum with 15% year-over-year growth in Q2, driven by broad-based portfolio strength and a 21% increase in the domestic particulate subsegment.
The acquisition of Sanara MedTech is expected to be immediately accretive and transformational, creating a combined company with over $400 million in revenue and a 20%+ adjusted EBITDA margin in 2027.
Wound care volume showed early signs of stabilization, with a 22% sequential increase overall and a 44% sequential increase in wound care centers, indicating market recovery.
The company ended Q2 with a strong balance sheet of $119 million in net cash and expects to rapidly deleverage to under 3 times adjusted EBITDA by the end of the first full year post-acquisition.

Negative

Net sales decreased 35% year-over-year in Q2 due to significant Medicare reimbursement changes in the wound care market, which continue to pressure the business.
Adjusted EBITDA was a loss of $8 million in Q2, impacted by $5 million in additional bad debt expenses from collection challenges related to Medicare changes.
Gross margin declined to 69% from 81% in the prior year, driven by lower wound pricing, unfavorable product mix, and higher costs.
The wound care market remains challenging with disorganized MACs, low-price product dumping, increased audits and clawbacks, and a problematic WiSE model that is hurting patient access.
The proposed 2027 physician schedule indicates CMS is unlikely to course-correct on reimbursement levels, suggesting current headwinds will persist through next year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MDXG.OQ - MiMedx Group Inc
Q2 2026 MiMedx Group Inc Earnings Call and to Acquire Sanara MedTech
Jul 29, 2026 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, please stand by.

The event will begin shortly.

Good afternoon and thank you for standing by.

Welcome to today's Mimetics Investor conference call.

At this time, all participants are in a listen-only mode.

A question-and-answer session will follow the formal presentation.

As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mr.

Matt Notoriari, head of investor relations for MMedics.

Thank you.

You may begin.

Thank you, operator, and good afternoon, everyone.

We are excited to welcome you to today's conference call where

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