MiMedx Group, Inc. announced net sales of $84 million for the third quarter of 2024, representing a 3% increase year-over-year. The company reported GAAP net income of $8 million, or $0.05 per share, and achieved an Adjusted EBITDA of $18 million, which is 22% of net sales.
The sales growth was primarily driven by increasing contributions from AMNIOEFFECT and EPIEFFECT products, along with initial sales from the recently launched HELIOGEN product. These gains were partially offset by commercial challenges related to sales team turnover, declines in AXIOFILL sales, and the discontinuation of a dental product line in the prior year.
MiMedx raised its full-year 2024 net sales growth expectations to the high single-digits, up from its previous mid-to-high single-digits guidance. The company also reaffirmed its expectation for a full-year Adjusted EBITDA margin above 20%, demonstrating confidence in its operational efficiency and long-term growth trajectory.
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