MiMedx Group stock: Surgical growth offsets steep Wound decline
Published on 11/05/2026 at 03:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSQuarterly results reshape MiMedx
- Third-quarter sales fell sharply as Medicare reimbursement changes pressured the Wound business.
- Surgical demand remained resilient, while cost reductions restored positive Adjusted EBITDA.
- The proposed Sanara acquisition still depends on regulatory clearance, and MIMEDX reported progress on AXIOFILL and patent licensing.
MiMedx Group, Inc. reported its third-quarter 2026 results on Wednesday, October 28, with a sharp split between its Surgical and Wound businesses. In its official release, the company said net sales fell to 62 million US dollars from 114 million US dollars a year earlier.
Surgical demand contrasts with Wound pressure
Surgical sales increased 9 percent year over year to 40 million US dollars, supported by AMNIOFIX, AMNIOEFFECT and HELIOGEN. Management said Surgical volume grew in the mid-teens despite softer US surgical procedure volumes, and the franchise now represents nearly two-thirds of company sales.
Wound sales dropped 71 percent to 22 million US dollars. MIMEDX attributed the decline primarily to Medicare reimbursement changes that took effect on January 1, 2026, although sales to Wound Care Centers continued to grow sequentially.
Cost actions improve quarterly profitability
Gross profit declined to 50 million US dollars from 95 million US dollars, while gross margin was 80 percent, compared with 84 percent in the prior-year quarter and 69 percent in the second quarter. The sequential improvement reflected lower costs and manufacturing efficiencies, partly offset by reimbursement pressure and product mix.
GAAP net loss was 9 million US dollars, compared with net income of 17 million US dollars in the prior-year period. Adjusted EBITDA turned positive at 2.1 million US dollars, while the company said fourth-quarter Adjusted EBITDA should be higher sequentially. Management now expects full-year 2026 net sales of 250 million to 260 million US dollars.
Regulatory and transaction milestones
MIMEDX said it continues to work with the Federal Trade Commission on clearance for its proposed Sanara MedTech acquisition. The company also reported a favorable federal court ruling in the AXIOFILL regulatory classification matter and announced a patent license agreement requiring five annual payments of 5 million US dollars from the licensee.
Cash and cash equivalents totaled 121 million US dollars at September 30, 2026. MIMEDX repaid its remaining 17 million US dollar term loan during the quarter and reported no debt outstanding at quarter-end.
MiMedx Group at a glance
- Company: MiMedx Group, Inc.
- Ticker: Nasdaq: MDXG
- Reporting period: Three months ended September 30, 2026
- Net sales: 62 million US dollars
- Surgical sales: 40 million US dollars, up 9 percent year over year
- Wound sales: 22 million US dollars, down 71 percent year over year
- Adjusted EBITDA: 2.1 million US dollars
