Revenue: As of FY2026 Q1, the actual value is USD 58.99 M, missing the estimate of USD 65.8 M.EPS: As of FY2026 Q1, the actual value is USD -0.07, missing the estimate of USD -0.0433.EBIT: As of FY2026 Q1, the actual value is USD -16.94 M.<h4>Net Sales</h4>MiMedx Group, Inc. reported net sales of $59 million for the three months ended March 31, 2026, representing a 33% decrease compared to $88 million in the prior year period . Last Twelve Months (LTM) net sales as of March 31, 2026, were $389 million .<h4>Segment Revenue</h4><ul><li>Surgical Sales: Surgical product sales increased 13% year over year, reaching $36,374 thousand for the three months ended March 31, 2026, up from $32,132 thousand in the prior year period . The Surgical segment generated $36 million in Q1 2026, an increase from $32 million in Q1 2025 . Surgical growth was 13% compared to Q1 2025 . For the LTM as of March 31, 2026, the Surgical segment accounted for 38% of sales .</li><li>Wound Sales: Wound sales declined 60% year over year, totaling $22,617 thousand for the three months ended March 31, 2026, compared to $56,073 thousand in the prior year period . The Wound segment contributed $23 million in Q1 2026, down from $56 million in Q1 2025 . For the LTM as of March 31, 2026, the Wound segment accounted for 62% of sales .</li></ul><h4>Gross Profit and Margin</h4>Gross profit for the three months ended March 31, 2026, was $42 million, down from $72 million in the prior year period . The gross margin for the same period was 71%, compared to 81% in the prior year . GAAP gross profit for Q1 2026 was $41.6 million (71% margin), down from $71.6 million (81% margin) in Q1 2025 . Adjusted gross profit was $42.4 million (71.9% margin) for Q1 2026, compared to $74.1 million (84.0% margin) in Q1 2025 .<h4>Operating Expenses</h4><ul><li>Selling, General and Administrative (SG&amp;A) Expenses: SG&amp;A expenses were $53 million for the three months ended March 31, 2026, a decrease from $60 million in the prior year period . As a percentage of net sales, S&amp;M expenses were 53% in Q1 2026, up from 47% in Q1 2025 . G&amp;A expenses were 15% of net sales in Q1 2026, slightly down from 16% in Q1 2025 .</li><li>Research and Development (R&amp;D) Expenses: R&amp;D expenses were $4 million for the three months ended March 31, 2026, up from $3 million in the prior year period . As a percentage of net sales, R&amp;D expenses were 8% in Q1 2026, an increase from 4% in Q1 2025 .</li></ul><h4>Net Income/Loss</h4>MiMedx Group, Inc. reported a net loss of - $11 million for the three months ended March 31, 2026, compared to a net income of $7 million for the three months ended March 31, 2025 . GAAP net loss for Q1 2026 was - $11 million, compared to a net income of $7 million in Q1 2025 . LTM GAAP net income as of March 31, 2026, was $31 million .<h4>Adjusted Net Income</h4>The adjusted net income was - $7 million for Q1 2026, a decrease from $10 million in Q1 2025 . Adjusted net income for March 31, 2026, was - $7.4 million, compared to $9.6 million for March 31, 2025 .<h4>Cash and Cash Equivalents</h4>As of March 31, 2026, the company had $160 million in cash and cash equivalents, a decrease from $166 million as of December 31, 2025 . The cash position, net of debt, was $142 million as of March 31, 2026 . The net cash balance was $142 million as of Q1 2026 . Quarterly net cash balance was $142 million for Q1 2026, $148 million for Q4 2025, $124 million for Q3 2025, $100 million for Q2 2025, $88 million for Q1 2025, and $86 million for Q4 2024 . The net cash balance increased by 11% year-over-year and was over 4x the 2023 year-end cash balance .<h4>Cash Flow</h4><ul><li>Net Cash Flows Provided by Operating Activities: For the three months ended March 31, 2026, net cash flows provided by operating activities were $1,879 thousand, compared to $5,299 thousand in the prior year period . Cash flows from operating activities were $1.9 million for Q1 2026, down from $5.3 million in Q1 2025 .</li><li>Free Cash Flow: Free cash flow was $1,309 thousand for the three months ended March 31, 2026, down from $4,922 thousand in the prior year period . Free cash flow was $1.3 million for Q1 2026, a decrease from $4.9 million in Q1 2025 .</li></ul><h4>Adjusted EBITDA</h4>Adjusted EBITDA for the three months ended March 31, 2026, was - $11,562 thousand, with an Adjusted EBITDA margin of -19.6% . This compares to an Adjusted EBITDA of $17,221 thousand and 19.5% for the prior year period . Adjusted EBITDA was - $11.6 million (-19.7% margin) for Q1 2026, a significant drop from $17.2 million (19.6% margin) in Q1 2025 . Adjusted EBITDA for March 31, 2026, was - $11.6 million with an Adjusted EBITDA margin of -19.7%, compared to $17.2 million and 19.6% for March 31, 2025 . LTM Adjusted EBITDA as of March 31, 2026, was $142 million .<h4>Outlook / Guidance</h4>MiMedx Group, Inc. expects 2026 net sales to be in the range of $260 million to $290 million and anticipates 2026 Adjusted EBITDA to be approximately breakeven . The company plans to generate $40 million in annualized savings from recent cost structure adjustments, aiming for a return to profitability over the balance of the year . Longer-term, MiMedx Group, Inc. expects to achieve annual net sales growth in the low double-digits with an adjusted EBITDA margin above 20% .

MiMedx | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 58.99 M