MiMedx | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 64.36 M

Revenue: As of FY2026 Q2, the actual value is USD 64.36 M, beating the estimate of USD 63.46 M.

EPS: As of FY2026 Q2, the actual value is USD -0.1, missing the estimate of USD -0.0533.

EBIT: As of FY2026 Q2, the actual value is USD -17.68 M.

Q2:26 Financial and Operational Highlights

MiMedx Group, Inc. reported net sales of $64 million for Q2:26, a 35% decrease compared to Q2:25 but a 9% increase from Q1:26. Surgical net sales were $39 million, growing 15% versus Q2:25, while Wound net sales were $25 million, representing a 61% decrease from Q2:25 but an 11% increase from Q1:26.

Operational Metrics

MiMedx Group, Inc. recorded a GAAP net loss of - $15 million in Q2:26, compared to a net income of $10 million in Q2:25. The GAAP net loss for Q2 2026 was - $14.8 million, compared to $9.6 million in Q2 2025. Adjusted EBITDA for Q2:26 was - $8 million, resulting in a -13% margin. Specifically, Adjusted EBITDA was - $8.1 million in Q2 2026, compared to $24.2 million in Q2 2025, with an Adjusted EBITDA Margin of -12.6% in Q2 2026 versus 24.5% in Q2 2025. Adjusted Net Income was - $6.7 million in Q2 2026, compared to $14.6 million in Q2 2025. GAAP gross profit for Q2:26 was $44.4 million, with an adjusted gross profit margin of 73.7%. The GAAP Gross Profit in Q2 2026 was $44.4 million, compared to $79.9 million in Q2 2025. Adjusted Gross Profit was $47.4 million in Q2 2026, compared to $82.4 million in Q2 2025, and the Adjusted Gross Profit Margin was 73.7% in Q2 2026 versus 83.6% in Q2 2025. Operating expenses were lower due to cost reduction initiatives and reduced commission from lower sales, partially offset by high bad debt expense within Wound and a one-time restructuring cost.

Cash and Unique Metrics

The company’s net cash balance stood at $119 million in Q2:26. MiMedx Group, Inc. repurchased 3.5 million shares for approximately $13 million during the quarter. The company also submitted two 510(k) applications during Q2:26.

Six Months Ended June 30, 2026

For the six months ended June 30, 2026, MiMedx Group, Inc. reported a GAAP net loss of - $25.7 million, compared to $16.6 million for the same period in 2025. Adjusted EBITDA was - $19.7 million, compared to $41.4 million in YTD Q2 2025, with an Adjusted EBITDA margin of -16.0% versus 22.2% in YTD Q2 2025. Adjusted Net Income for YTD Q2 2026 was - $14.1 million, compared to $24.2 million in YTD Q2 2025. GAAP gross profit for the six months was $86.0 million, compared to $151.6 million in YTD Q2 2025. Adjusted Gross Profit was $89.9 million, compared to $156.7 million in YTD Q2 2025, and the Adjusted Gross Profit Margin was 72.8% versus 83.9% in YTD Q2 2025.

Cost Initiatives

MiMedx Group, Inc. completed cost reduction initiatives, incurring a one-time restructuring charge of approximately - $4 million during Q2:26, which are expected to achieve annualized savings of approximately $40 million.

Sanara MedTech Acquisition

MiMedx Group, Inc. is acquiring Sanara MedTech for approximately $350 million in total enterprise value, with a purchase price of $35 per share, consisting of $33 per share in cash and 0.4735 shares of MiMedx Group, Inc. common stock. The acquisition, financed by cash on hand and a new $300 million Senior Secured Term Loan, is expected to add over $100 million in Surgical revenue and is anticipated to close by year-end 2026.

Sanara MedTech Select Financial Highlights (2025)

Sanara MedTech reported Net Revenue of $103 million in 2025, with 19% year-over-year growth and a 51% 7-year CAGR. Its Gross Margin was 93%, Operating Income was $7 million, Adjusted EBITDA was $17 million, and Cash stood at $17 million in 2025.

Outlook / Guidance

For the full year 2026, MiMedx Group, Inc. projects net sales to be between $260 million and $290 million, with Adjusted EBITDA approaching breakeven. Post-acquisition, in the first full year, the combined entity is expected to generate total revenue well in excess of $400 million and realize over $20 million in annualized run-rate cost synergies in 2027. The combined entity is also projected to achieve an Adjusted EBITDA margin above 20% and a combined leverage ratio below 3.0x by year-end 2027.