Mimedx Group, Inc. (MDXG) SEC Filing 10-Q Quarterly report for the period ending Friday, September 30, 2016

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Mimedx Group, Inc.
Ticker: MDXG CIK: 1376339

Exhibit 99.1

PRESS RELEASE Contact: Michael Senken

Phone: (770) 651-9100

MiMedx Announces Third Quarter 2016 Results

Company exceeds upper end of guidance with Record Quarterly Revenue of $64.4 Million,

a 31% increase over Q3 2015

Marietta, Georgia, October 27, 2016, (PR Newswire) -- MiMedx Group, Inc. (NASDAQ: MDXG), the leading regenerative medicine company utilizing human amniotic tissue and patent-protected processes to develop and market advanced products and therapies for the Wound Care, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic, and Dental sectors of healthcare, announced today its results for the third quarter of 2016.

Third Quarter 2016 Highlights:


•	Q3 2016 revenue of $64.4 Million is a 31% increase over Q3 2015 revenue


•	Q3 2016 revenue exceeds $64.0 Million upper end of guidance


•	Q3 2016 revenue beats analysts’ consensus estimates of $63.1 Million


•	Revenue for nine months ended September 30, 2016 is a 29% increase over same 2015 period


•	Adjusted Gross Margin* of 88.0%


•	Adjusted EBITDA* of $11.4 million


•	Adjusted Net Income* of $6.2 million


•	Adjusted Diluted Net Income Per Share* of $0.06


•	Wound Care revenue of $49.8 million


•	Surgical, Sports Medicine and Orthopedics (SSO) Revenue of $14.6 million


•	Current direct sales force grows to nearly 300 sales professionals

* See the accompanying tables for definitions of each Non-GAAP metric. Reconciliations of GAAP Net Income to Adjusted EBITDA, GAAP Gross Margin to Adjusted Gross Margin, and GAAP Net Income to Adjusted Net Income and Adjusted Diluted Net Income Per Share appear in the tables below. These non-GAAP measures include, but are not limited to, adjustments for non-cash charges associated with purchase accounting related to the Stability Biologics acquisition, normalization of tax expense, one-time non-recurring cash charges and share based compensation expense.

Third Quarter 2016 GAAP Results (includes purchase accounting and one-time non-recurring charges related to the acquisition of Stability Biologics)


•	Gross margin of 87.6%


•	Net Income of $3.3 million


•	Diluted Net Income per share of $0.03

Results for Third Quarter and Nine Months Ended September 30, 2016

The Company recorded record revenue for the 2016 third quarter of $64.4 million, a $15.4 million or 31% increase over 2015 third quarter revenue of $49.0 million. The Company’s Adjusted Gross Margin for the third quarter of 2016 was 88.0%, compared to 89.8% in the third quarter of 2015. Adjusted EBITDA* for the third quarter of 2016 was $11.4 million, a $439,000 decrease as compared to Adjusted EBITDA* of $11.8 million for the third quarter of 2015. Adjusted Net Income for the third quarter of 2016 was $6.2 million, or $0.06 per diluted common share, a $348,000 decrease, as compared to Adjusted Net Income of $6.6 million, or $0.06 per diluted common share, in the third quarter of 2015.

The following information was filed by Mimedx Group, Inc. (MDXG) on Thursday, October 27, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Mimedx Group, Inc.'s financial trajectory

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