MiMedx Group (MDXG)
NASDAQ:MDXG
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MiMedx Group
(NASDAQ:MDXG)
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Rating:69Neutral
Price Target:
$4.00
▲(16.96% Upside)
Action:ReiteratedDate:04/17/26
MDXG scores highest on financial performance, driven by strong recent profitability, cash generation, and an exceptionally low-leverage balance sheet. The overall score is held back by weak technicals (price below all key moving averages with negative momentum) and a pressured near-term outlook from 2026 guidance tied to wound-care reimbursement and pricing disruption; restructuring actions modestly offset this by aiming to protect margins.
Positive Factors
Very low leverage / strong balance sheet
The exceptionally low debt burden and expanded equity base provide durable financial flexibility to absorb reimbursement shocks, fund working capital needs, and execute the $100M buyback without stressing liquidity. A conservative capital structure supports strategic optionality and downside protection over 2–6 months and beyond.
Negative Factors
Medicare reimbursement disruption
Structural changes to Medicare pricing and coverage materially shrink near-term addressable market and depress ASPs. Because wound products rely on predictable payor rules, these policy shifts can permanently reduce unit economics and require re-contracting with payors or product repositioning to restore prior margin levels.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage / strong balance sheet
The exceptionally low debt burden and expanded equity base provide durable financial flexibility to absorb reimbursement shocks, fund working capital needs, and execute the $100M buyback without stressing liquidity. A conservative capital structure supports strategic optionality and downside protection over 2–6 months and beyond.
Read all positive factors
MiMedx Group (MDXG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$576.44M
Dividend YieldN/A
Average Volume (3M)1.19M
Price to Earnings (P/E)20.6
Beta (1Y)0.66
Revenue Growth14.77%
EPS Growth-58.90%
CountryUS
Employees837
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.10
Shares Outstanding148,566,590
10 Day Avg. Volume1,262,284
30 Day Avg. Volume1,185,574
Financial Highlights & Ratios
PEG Ratio1.49
Price to Book (P/B)3.90
Price to Sales (P/S)2.39
P/FCF Ratio13.71
Enterprise Value/Market Cap0.63
Enterprise Value/Revenue0.87
Enterprise Value/Gross Profit1.05
Enterprise Value/Ebitda4.47
Forecast
1Y Price Target
$8.00Price Target Upside133.92% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)0.13
Revenue Forecast (FY)$346.16M
MiMedx Group Business Overview & Revenue Model
Company Description
MiMedx Group, Inc. develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue...
How the Company Makes Money
MiMedx primarily makes money by selling its placental tissue–derived biologic products to healthcare providers and facilities for use in wound management and surgical applications. Revenue is generated from product sales volume and pricing across ...
MiMedx Group Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Neutral
The call highlights a strong 2025 with record revenue, margin expansion and a fortified balance sheet, plus clear growth momentum and product/clinical progress in the Surgical segment. However, substantial near-term headwinds in the Wound Care market — driven by Medicare reimbursement changes, pricing disruption, prior-authorization delays and uncertainty around market sizing — lead management to guide to a lower revenue and margin profile for 2026. The company emphasizes confidence in its long-term positioning and expects recovery and above-market growth by 2027, but acknowledges a noisy transition year ahead.Positive Updates
Record Full-Year Financial Performance
Net sales of $419 million in 2025, representing 20% year-over-year growth; full-year adjusted EBITDA of nearly $106 million (approximately 25% adjusted EBITDA margin); GAAP net income of $49 million.
Negative Updates
Wound Care Reimbursement Disruption
Medicare recalibration (price cap $127 per square centimeter) and abandonment of LCD implementation have disrupted the Wound market; implementation of WISeR prior authorization in some states has slowed claims processing and reduced near-term volume.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Full-Year Financial Performance
Net sales of $419 million in 2025, representing 20% year-over-year growth; full-year adjusted EBITDA of nearly $106 million (approximately 25% adjusted EBITDA margin); GAAP net income of $49 million.
Read all positive updates
Company Guidance
The company guided 2026 revenue to $340–$360 million, with Q1 expected to be the weakest quarter and “substantial” sequential increases each quarter as the market resets, and full‑year adjusted EBITDA targeted in the mid‑ to high‑teens (percent). For 2026 they expect gross margin in the mid‑ to upper‑70s, sales & marketing spending around ~50% of net sales, GAAP G&A and R&D to be flat in absolute dollars versus 2025, and a long‑term non‑GAAP effective tax rate of ~25%. Management reiterated a longer‑term view of returning to double‑digit, above‑market top‑line growth and a mid‑20s EBITDA margin by 2027 with revenue back over $400M, noted year‑end 2025 net cash of $148M (FY2025: $419M revenue and ~ $106M adjusted EBITDA), and that the Board authorized up to $100M in share repurchases over the next two years.MiMedx Group Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
84
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 418.63M | 348.88M | 321.48M | 267.84M | 242.02M |
| Gross Profit | 345.62M | 288.81M | 266.84M | 219.53M | 202.39M |
| EBITDA | 82.93M | 65.35M | 40.54M | -10.68M | -1.89M |
| Net Income | 48.58M | 42.42M | 67.44M | -30.20M | -12.30M |
Balance Sheet | |||||
| Total Assets | 342.65M | 263.92M | 239.05M | 171.43M | 187.93M |
| Cash, Cash Equivalents and Short-Term Investments | 166.12M | 104.42M | 82.00M | 65.95M | 87.08M |
| Total Debt | 22.53M | 24.84M | 48.10M | 52.47M | 53.29M |
| Total Liabilities | 86.11M | 70.81M | 96.33M | 96.92M | 95.35M |
| Stockholders Equity | 256.55M | 193.11M | 142.72M | 74.51M | 92.58M |
Cash Flow | |||||
| Free Cash Flow | 72.97M | 64.52M | 24.79M | -19.41M | -5.20M |
| Operating Cash Flow | 74.00M | 66.20M | 26.77M | -17.89M | -1.98M |
| Investing Cash Flow | -6.89M | -9.58M | -2.15M | -2.66M | -3.40M |
| Financing Cash Flow | -5.41M | -34.20M | -8.57M | -580.00K | -3.35M |
MiMedx Group Technical Analysis
Negative
3.42
Price Trends
4.48
Negative
5.41
Negative
6.20
Negative
Market Momentum
-0.24
Positive
22.55
Positive
19.52
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDXG, the sentiment is Negative. The current price of 3.42 is below the 20-day moving average (MA) of 3.91, below the 50-day MA of 4.48, and below the 200-day MA of 6.20, indicating a bearish trend. The MACD of -0.24 indicates Positive momentum. The RSI at 22.55 is Positive, neither overbought nor oversold. The STOCH value of 19.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MDXG.
MiMedx Group Risk Analysis
MiMedx Group disclosed 42 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 2 New Risks
1.
Our capital allocation decisions, including decisions regarding share repurchases, investments in inorganic opportunities, and other capital allocation activities, may not achieve their intended benefits and could adversely affect our financial condition and stock price. Q4, 2025
2.
Increased use of artificial intelligence ("AI") and related technologies in the medical device industry could subject us to new risks and uncertainties, and our failure to effectively evaluate or adopt such technologies could adversely affect our business. Q4, 2025
MiMedx Group Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $576.44M | 20.60 | 21.24% | ― | 14.77% | -58.90% | |
56 Neutral | $1.27B | 55.31 | 1.15% | ― | 26.54% | ― | |
52 Neutral | $1.03B | -5.55 | -38.79% | ― | ― | 4.29% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $1.46B | -0.59 | -389.74% | ― | ― | ― | |
45 Neutral | $1.33B | -13.58 | -40.70% | ― | ― | ― |
* Healthcare Sector Average
MDXG
MiMedx Group
3.42
-3.14
-47.86%
ORIC
Oric Pharmaceuticals
10.75
5.88
120.74%
PHAR
Pharming Group
17.34
9.19
112.76%
ATAI
Atai Beckley N.V.
4.03
2.61
183.80%
MAZE
Maze Therapeutics, Inc.
28.09
18.96
207.67%
MiMedx Group Corporate Events
Business Operations and StrategyExecutive/Board Changes
MiMedx launches restructuring to cut costs, refocus growth
Negative
Apr 16, 2026
On April 14, 2026, MiMedx initiated a restructuring and cost reduction program designed to prioritize growth areas, streamline operations and materially lower operating expenses, including eliminating the Chief Operating Officer role held by Ricci...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.