--- title: "MiMedx | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 58.99 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/284690074.md" datetime: "2026-04-30T04:02:56.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284690074.md) - [en](https://longbridge.com/en/news/284690074.md) - [zh-HK](https://longbridge.com/zh-HK/news/284690074.md) --- # MiMedx | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 58.99 M Revenue: As of FY2026 Q1, the actual value is USD 58.99 M, missing the estimate of USD 65.8 M. EPS: As of FY2026 Q1, the actual value is USD -0.07, missing the estimate of USD -0.0433. EBIT: As of FY2026 Q1, the actual value is USD -16.94 M. #### Net Sales MiMedx Group, Inc. reported net sales of $59 million for the three months ended March 31, 2026, representing a 33% decrease compared to $88 million in the prior year period . Last Twelve Months (LTM) net sales as of March 31, 2026, were $389 million . #### Segment Revenue - **Surgical Sales:** Surgical product sales increased 13% year over year, reaching $36,374 thousand for the three months ended March 31, 2026, up from $32,132 thousand in the prior year period . The Surgical segment generated $36 million in Q1 2026, an increase from $32 million in Q1 2025 . Surgical growth was 13% compared to Q1 2025 . For the LTM as of March 31, 2026, the Surgical segment accounted for 38% of sales . - **Wound Sales:** Wound sales declined 60% year over year, totaling $22,617 thousand for the three months ended March 31, 2026, compared to $56,073 thousand in the prior year period . The Wound segment contributed $23 million in Q1 2026, down from $56 million in Q1 2025 . For the LTM as of March 31, 2026, the Wound segment accounted for 62% of sales . #### Gross Profit and Margin Gross profit for the three months ended March 31, 2026, was $42 million, down from $72 million in the prior year period . The gross margin for the same period was 71%, compared to 81% in the prior year . GAAP gross profit for Q1 2026 was $41.6 million (71% margin), down from $71.6 million (81% margin) in Q1 2025 . Adjusted gross profit was $42.4 million (71.9% margin) for Q1 2026, compared to $74.1 million (84.0% margin) in Q1 2025 . #### Operating Expenses - **Selling, General and Administrative (SG&A) Expenses:** SG&A expenses were $53 million for the three months ended March 31, 2026, a decrease from $60 million in the prior year period . As a percentage of net sales, S&M expenses were 53% in Q1 2026, up from 47% in Q1 2025 . G&A expenses were 15% of net sales in Q1 2026, slightly down from 16% in Q1 2025 . - **Research and Development (R&D) Expenses:** R&D expenses were $4 million for the three months ended March 31, 2026, up from $3 million in the prior year period . As a percentage of net sales, R&D expenses were 8% in Q1 2026, an increase from 4% in Q1 2025 . #### Net Income/Loss MiMedx Group, Inc. reported a net loss of - $11 million for the three months ended March 31, 2026, compared to a net income of $7 million for the three months ended March 31, 2025 . GAAP net loss for Q1 2026 was - $11 million, compared to a net income of $7 million in Q1 2025 . LTM GAAP net income as of March 31, 2026, was $31 million . #### Adjusted Net Income The adjusted net income was - $7 million for Q1 2026, a decrease from $10 million in Q1 2025 . Adjusted net income for March 31, 2026, was - $7.4 million, compared to $9.6 million for March 31, 2025 . #### Cash and Cash Equivalents As of March 31, 2026, the company had $160 million in cash and cash equivalents, a decrease from $166 million as of December 31, 2025 . The cash position, net of debt, was $142 million as of March 31, 2026 . The net cash balance was $142 million as of Q1 2026 . Quarterly net cash balance was $142 million for Q1 2026, $148 million for Q4 2025, $124 million for Q3 2025, $100 million for Q2 2025, $88 million for Q1 2025, and $86 million for Q4 2024 . The net cash balance increased by 11% year-over-year and was over 4x the 2023 year-end cash balance . #### Cash Flow - **Net Cash Flows Provided by Operating Activities:** For the three months ended March 31, 2026, net cash flows provided by operating activities were $1,879 thousand, compared to $5,299 thousand in the prior year period . Cash flows from operating activities were $1.9 million for Q1 2026, down from $5.3 million in Q1 2025 . - **Free Cash Flow:** Free cash flow was $1,309 thousand for the three months ended March 31, 2026, down from $4,922 thousand in the prior year period . Free cash flow was $1.3 million for Q1 2026, a decrease from $4.9 million in Q1 2025 . #### Adjusted EBITDA Adjusted EBITDA for the three months ended March 31, 2026, was - $11,562 thousand, with an Adjusted EBITDA margin of -19.6% . This compares to an Adjusted EBITDA of $17,221 thousand and 19.5% for the prior year period . Adjusted EBITDA was - $11.6 million (-19.7% margin) for Q1 2026, a significant drop from $17.2 million (19.6% margin) in Q1 2025 . Adjusted EBITDA for March 31, 2026, was - $11.6 million with an Adjusted EBITDA margin of -19.7%, compared to $17.2 million and 19.6% for March 31, 2025 . LTM Adjusted EBITDA as of March 31, 2026, was $142 million . #### Outlook / Guidance MiMedx Group, Inc. expects 2026 net sales to be in the range of $260 million to $290 million and anticipates 2026 Adjusted EBITDA to be approximately breakeven . The company plans to generate $40 million in annualized savings from recent cost structure adjustments, aiming for a return to profitability over the balance of the year . Longer-term, MiMedx Group, Inc. expects to achieve annual net sales growth in the low double-digits with an adjusted EBITDA margin above 20% . ### Related Stocks - [MDXG.US](https://longbridge.com/en/quote/MDXG.US.md) ## Related News & Research - [23:01 ETINVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of MiMedx Group, Inc. - MDXG](https://longbridge.com/en/news/286499871.md) - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Royce Small-Cap Trust (NYSE: RVT) as of Apr 30, 2026 | RVT Stock News](https://longbridge.com/en/news/287103750.md) - [Hafnia’s Q1 2026 Financial Results Presentation to Be Held on 27 May 2026 | HAFN Stock News](https://longbridge.com/en/news/287014236.md)