Exhibit 99.1
PRESS RELEASE CONTACT:
MICHAEL SENKEN
PHONE: (770) 651-9100


MiMedx Announces 2016 Record Results
 

Marietta, Georgia, February 23, 2017, (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, today announced its record results for the fourth quarter and full year ended December 31, 2016.

Full Year 2016 Highlights are:
Revenue is a 31% increase over full year 2015 revenue
Revenue of $245.0 million within range of MiMedx guidance
Wound Care revenue of $184 million is a 30% increase over 2015
Surgical, Sports Medicine and Orthopedics (SSO) revenue of $61.0 million grew 32% over 2015
Gross margin of 87%
Net income of $12.0 million beats consensus by $1.0 million
GAAP EPS (diluted) of $0.11 beats consensus by $0.01
Adjusted Net Income* of $24.4 million and EPS (diluted) of $0.22 meets consensus
Adjusted EBITDA* of $44.4 million
Net cash flows from operations of $25.8 million is a 37% increase over prior year
Stock repurchase under the repurchase plan of $10.4 million

Fourth Quarter 2016 Highlights are:
Revenue grew 35% over Q4 2015 revenue
Revenue of $69.9 Million within range of MiMedx Q4 2016 guidance
Wound Care revenue grew 32% over Q4 2015
SSO revenue for Q4 2016 grew 44% over Q4 2015
20th of last 21 quarters of meeting or exceeding revenue guidance
Gross margin of 87%
Net income of $5.5 million
20th consecutive quarter of positive Adjusted EBITDA*
Adjusted EBITDA* of $13.9 million
Adjusted Net Income* of $8.1 million is a 14% increase over 2015
* See the accompanying tables for definitions of each Non-GAAP metric. Reconciliations of GAAP EBITDA 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.

Parker H. “Pete” Petit, Chairman and CEO stated, “The final revenue is $1.8 million lower than we pre-released on January 9, 2017. This lower revenue is the result of the decision that we made to take what we believe is a very conservative approach related to the transition of certain government accounts from a distributor’s Federal Supply Schedule (FSS) contract to our own FSS contract. As previously reported, the Company has been transitioning since 2015 from sales to government accounts through our relationship with AvKare to sales directly to government accounts



The following information was filed by Mimedx Group, Inc. (MDXG) on Thursday, February 23, 2017 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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