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MiMedx Group (MDXG)
NASDAQ:MDXG
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MiMedx Group
(NASDAQ:MDXG)
70Outperform
Positive Factors
Product Sales
MDXG put up another quarter of strong product sales, with $93mn of revenue versus $89.4mn Street, or 7% growth versus 3% expectation.
Strategic Initiatives
Management remains optimistic about current strategic initiatives, with the recent launch of HELIOGEN expected to contribute meaningfully.
Negative Factors
Reimbursement Uncertainty
Continuing reimbursement uncertainty disrupted the business in the physician office setting.
MiMedx Group (MDXG) vs. S&P 500 (SPY)
Market Cap
$1.15B
Dividend YieldN/A
Average Volume (3M)554.40K
Price to Earnings (P/E)27.4
Beta (1Y)0.87
Revenue Growth8.52%
EPS Growth-32.91%
CountryUS
Employees895
SectorHealthcare
Sector Strength78
IndustryBiotechnology
Share Statistics
EPS (TTM)0.28
Shares Outstanding147,366,060
10 Day Avg. Volume708,493
30 Day Avg. Volume554,397
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)3.29
Price to Cash Flow (P/CF)15.30
P/FCF Ratio14.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$12.50Price Target Upside53.94% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
MiMedx Group Business Overview & Revenue Model
Company DescriptionMiMedx Group, Inc. is a biopharmaceutical company that specializes in the development and commercialization of regenerative biologics. The company operates primarily in the healthcare and biotechnology sectors, focusing on advanced wound care and therapeutic biologics. MiMedx's core products are derived from human placental tissue, which are used to treat chronic and acute wounds, soft tissue injuries, and other medical conditions.
How the Company Makes MoneyMiMedx Group generates revenue primarily through the sale of its regenerative biologics products to healthcare providers, hospitals, and clinics. The company markets its products to physicians and healthcare facilities that utilize them in various medical applications, such as wound care and orthopedic procedures. Key revenue streams include direct sales, distributor agreements, and partnerships with healthcare organizations. Additionally, MiMedx invests in research and development to expand its product offerings and enhance its technology, which contributes to its earnings by meeting evolving market demands and maintaining a competitive edge in the regenerative medicine sector.
MiMedx Group Financial Statement Overview
Summary
MiMedx Group shows strong financial recovery with robust revenue growth and improved operational efficiency. Cash flow generation is healthy, with substantial free cash flow growth. However, declining net profit margins and past financial instability are areas of concern.Income Statement
MiMedx Group has demonstrated strong revenue growth with a 8.52% increase from 2023 to 2024, and a consistent rise in gross profit margins over multiple years. The EBIT margin improved significantly, indicating better operational efficiency. However, net profit margins declined from 2023 to 2024 due to a fall in net income despite revenue growth.78
Positive
Balance Sheet
The company has improved its financial stability with a positive stockholders' equity and a low debt-to-equity ratio of 0.01 in 2024, reflecting better leverage management. The equity ratio increased substantially, showing strengthened asset base. However, the historical financial instability marked by negative equity in earlier years remains a concern.65
Positive
Cash Flow
Strong growth in operating cash flow and free cash flow is evident, with the free cash flow rising significantly in 2024. The operating cash flow to net income ratio is healthy, indicating efficient cash generation relative to net earnings. Free cash flow to net income ratio is robust, signaling efficient capital expenditure management.81
Very Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 348.88M | 321.48M | 267.84M | 258.62M | 248.23M | Gross Profit |
| 288.81M | 266.84M | 219.53M | 215.33M | 208.90M | EBIT |
| 58.87M | 37.12M | -24.97M | -5.00M | -44.37M | EBITDA |
| 64.34M | 40.52M | -10.69M | -1.89M | -45.76M | Net Income Common Stockholders |
| 42.42M | 67.44M | -30.20M | -10.29M | -49.28M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 104.42M | 82.00M | 65.95M | 87.08M | 95.81M | Total Assets |
| 263.92M | 239.05M | 171.43M | 187.93M | 202.03M | Total Debt |
| 1.00M | 48.10M | 48.59M | 48.13M | 47.70M | Net Debt |
| -103.42M | -33.90M | -17.36M | -38.96M | -48.12M | Total Liabilities |
| 70.81M | 96.33M | 189.42M | 187.85M | 202.18M | Stockholders Equity |
| 193.11M | 142.72M | -17.99M | 82.00K | -150.00K |
| Cash Flow | Free Cash Flow | |||
| 64.52M | 24.79M | -20.58M | -5.45M | -34.82M | Operating Cash Flow |
| 66.20M | 26.77M | -17.89M | -1.98M | -30.26M | Investing Cash Flow |
| -9.58M | -2.15M | -2.66M | -3.40M | -4.55M | Financing Cash Flow |
| -34.20M | -8.57M | -580.00K | -3.35M | 61.56M |
MiMedx Group Technical Analysis
Neutral
8.12
Price Trends
8.58
Negative
8.33
Negative
7.49
Positive
Market Momentum
-0.16
Negative
46.78
Neutral
51.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDXG, the sentiment is Neutral. The current price of 8.12 is above the 20-day moving average (MA) of 8.09, below the 50-day MA of 8.58, and above the 200-day MA of 7.49, indicating a neutral trend. The MACD of -0.16 indicates Negative momentum. The RSI at 46.78 is Neutral, neither overbought nor oversold. The STOCH value of 51.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MDXG.
MiMedx Group Risk Analysis
MiMedx Group disclosed 40 risk factors in its most recent earnings report. MiMedx Group reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MiMedx Group Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.15B | 27.38 | 25.01% | ― | 8.52% | -32.91% | |
52 Neutral | $252.82M | 25.27 | -4.64% | ― | -54.17% | -135.78% | |
49 Neutral | $6.90B | -0.08 | -53.01% | 2.43% | 24.84% | -3.06% | |
48 Neutral | $40.09M | ― | -128.15% | ― | -3.49% | -87.49% | |
39 Underperform | $104.45M | ― | -129.58% | ― | -27.69% | -27.91% | |
35 Underperform | $3.70M | ― | 366.81% | ― | -30.19% | 97.74% | |
34 Underperform | $45.30M | ― | 607.06% | ― | ― | 55.67% |
* Healthcare Sector Average
Performance Comparison
MDXG
MiMedx Group
8.12
0.13
1.63%
APYX
Apyx Medical
1.06
-0.66
-38.37%
OSUR
Orasure Technologies
3.38
-3.68
-52.12%
TTOO
T2 Biosystems
0.13
-4.50
-97.19%
ITRM
Iterum Therapeutics
1.34
-0.33
-19.76%
DERM
Journey Medical Corp
5.15
1.67
47.99%
MiMedx Group Earnings Call Summary
Earnings Call Date: Feb 26, 2025 | % Change Since: 1.37% | Next Earnings Date: May 6, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong revenue growth, a solid cash position, and successful international expansion. However, challenges related to Medicare reimbursement and potential market disruption due to new LCD implementations were noted. Legal and regulatory issues also present ongoing challenges.Highlights
Solid Year-Over-Year Revenue Growth
MiMedx reported a 9% increase in full-year revenue with a strong 7% growth in Q4, reaching $93 million.
High Gross Profit Margin
The company maintained a high gross profit margin of 82% in Q4 2024.
Strong Cash Position
MiMedx ended the year with $104 million in cash, an increase of $16 million during the quarter.
International Market Success
Sales in Japan for the EpiFix product nearly tripled in 2024.
Product Innovation and Market Acceptance
HELIOGEN, a new product in the surgical market, began gaining traction, with AMNIOEFFECT growing close to 20% year-over-year.
Lowlights
Medicare Reimbursement Challenges
The company faced challenges due to Medicare reimbursement issues, which impacted sales force turnover in select markets.
Potential Market Disruption
Uncertainty remains around the implementation of new LCDs, which could cause short-term disruption in the market.
Legal and Regulatory Challenges
MiMedx is involved in legal battles, including those related to AXIOFIL regulatory issues and employee turnover cases.
Company Guidance
During the MiMedx Fourth Quarter and Full Year 2024 Operating Financial Results Conference Call, the company reported a full-year revenue growth of 9%, with Q4 net sales increasing by 7% to $93 million. Gross profit margin for the quarter was 82%, and adjusted EBITDA was $20 million, representing 21% of sales. For the full year, adjusted EBITDA was $76 million, or 22% of sales, marking an $18 million increase from the previous year. The company ended the year with $104 million in cash, an increase of $16 million during the quarter. MiMedx also highlighted its strategic priorities, including the market release of HELIOGEN, expanding its footprint in the surgical market, and enhancing customer intimacy. Looking ahead, MiMedx anticipates 2025 to be another successful year, with expected net sales growth in the high single digits and an adjusted EBITDA margin above 20%, assuming the implementation of new Medicare reimbursement policies in April.MiMedx Group Corporate Events
Business Operations and StrategyFinancial Disclosures
MiMedx Group Reports Strong 2024 Financial Results
Positive
Feb 26, 2025
MiMedx Group announced its financial results for the fourth quarter and full year 2024, reporting a 7% increase in net sales for the quarter and 9% for the year. Despite challenges with Medicare reimbursement and commercial disruptions, the company achieved a net income of $7 million for the quarter and $42 million for the year. The CEO expressed confidence in the company’s growth prospects, highlighting plans to expand its wound and surgical businesses and adapt to market changes. The company also reported an increase in cash and cash equivalents, ending the year with $104 million.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.