MiMedx is focused on regenerative medicine using human amniotic tissue and patent-protected processes to develop and market advanced products and therapies for wound care, surgical, orthopedic, spinal, sports medicine ophthalmic and dental sectors. Here are 10 highlights from the financial report:
• Revenue was $32 million — a 108 percent increase over the third quarter of 2013.
• The company’s revenue was up 31 percent from the previous consecutive quarter.
• Nine-month revenue is $78.7 million, a 91 percent increase over the same period last year.
• The company added 54 sales professionals in the first two quarters, which is already paying off. The company now has 150 to 160 sales professionals.
• Randomized controlled trials and cross-over clinical studies on the company’s products are becoming more common.
• The third quarter is the 11th consecutive quarter for the company to record positive adjusted earnings before interest, taxes, depreciation and share-based compensation.
Outlook for the future:
• Fourth quarter revenue is projected at $37.3 million to $38.3 million.
• Guidance for the full year revenue is up from previous guidance to reach $116 million to $117 million.
• The company expects 175 million to $185 million revenue in 2015.
• MiMedx estimates the company will produce an operating profit margin for full year 2015 exceeding 15 percent.
More articles on orthopedic devices:
Invibio launches new polymer-based trauma device technology
30 statistics on top 10 worldwide orthopedics companies
NuVasive COO sells 2.5k shares in $87k transaction
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
