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MiMedx Announces Record Second Quarter Results
Date:7/28/2014

MARIETTA, Ga., July 28, 2014 /PRNewswire/ -- MiMedx Group, Inc. (NASDAQ: MDXG), an integrated developer, processor and marketer of patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane, announced today its results for the quarter ended June 30, 2014.

Highlights include:

  • Revenue exceeds upper end of guidance and increases by 89% over Q2 2013 to $25.6 million
  • Quarter-over-quarter revenue grew by 31%
  • Wound Care revenue increases 181% over Q2 2013 and 40% sequentially over Q1 2014
  • Company issues third quarter revenue guidance of $30-$31 million with Operating Profit
  • Company increases full year 2014 revenue guidance to $110-$115 million
  • 11th consecutive quarter of meeting or exceeding revenue guidance
  • 10th consecutive quarter of positive Adjusted EBITDA*
  • Adjusted EBITDA* increases by 148% over Q2 2013
  • Free cash flow positive for quarter driven by improved A/R Days Sales Outstanding
  • Second Quarter and Six Months Ended June 30, 2014 Results
    The Company recorded record revenue for the second quarter of 2014 of $25.6 million, a $12.1 million of 89% increase over 2013 second quarter revenue of $13.5 million, and above its latest guidance range of $24 million to $25 million.  The Company's gross margins for the quarter ended June 30, 2014 were 89% as compared to 84% in the second quarter of 2013.  Earnings before intere
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    SOURCE MiMedx Group, Inc.
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