8-K - MDXG - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

____________________

FORM 8-K ____________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 29, 2025

MIMEDX GROUP, INC.

(Exact name of registrant as specified in charter)

Florida	001-35887	26-2792552
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

1775 West Oak Commons Ct., NE, Marietta GA 30062

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (770) 651-9100

____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange<br>on which registered
Common Stock, $0.001 par value per share	MDXG	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Important Cautionary Statement

This report includes forward-looking statements, including statements regarding: (i) future sales or sales growth; (ii) our 2025 and longer term financial goals and expectations for future financial results, including levels of net sales, Adjusted EBITDA, Adjusted EBITDA margin, corporate expenses, and cash; (iii) our expectations regarding the placental tissue market; (iv) our expectations regarding Medicare spending reform; and (v) continued growth in different care settings. Additional forward-looking statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “goal,” “outlook,” “potential,” “will,” “preliminary,” and similar expressions, and are based on management’s current beliefs and expectations.

Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: (i) future sales are uncertain and are affected by competition, access to customers, patient access to healthcare providers, the reimbursement environment and many other factors; (ii) the Company may change its plans due to unforeseen circumstances; (iii) the results of scientific research are uncertain and may have little or no value; (iv) our ability to sell our products in other countries depends on a number of factors including adequate levels of reimbursement, market acceptance of novel therapies, and our ability to build and manage a direct sales force or third party distribution relationship; (v) the effectiveness of amniotic tissue as a therapy for particular indications or conditions is the subject of further scientific and clinical studies; and (vi) we may alter the timing and amount of planned expenditures for research and development based regulatory developments; (vii) Medicare spending; and (viii) changes in the size of the addressable market for our products. The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this report and the Company assumes no obligation to update any forward-looking statement.

Item 2.02 Results of Operations and Financial Condition.

On October 29, 2025, MiMedx Group, Inc. (the “Company”), issued a press release (the “Earnings Press Release”) announcing its results for the quarter that ended September 30, 2025. A copy of the Earnings Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The foregoing information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition”, including Exhibit 99.1 attached hereto, and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. It may only be incorporated by reference into another filing under the Exchange Act or Securities Act of 1933, as amended (the “Securities Act”), if such subsequent filing specifically references this Form 8-K. All information in the Earnings Press Release speaks as of the date thereof and the Company does not assume any obligation to update such information in the future. In addition, the Company disclaims any inference regarding the materiality of such information which otherwise may arise as a result of its furnishing such information under Item 2.02 of this report on Form 8-K.

Item 7.01 Regulation FD Disclosure.

On October 29, 2025, at 4:30 PM Eastern Daylight Time, the Company intends to host a conference call and webcast (the “Earnings Call”) to discuss its financial and operating results for the quarter that ended September 30, 2025. A copy of the slide presentation to be used by the Company in connection with the Earnings Call is attached hereto as Exhibit 99.2 and is incorporated herein by reference. A copy of the investor presentation materials made available to the investors by the Company on the Company’s website in connection with the Earnings Release is furnished as Exhibit 99.3 to this Current Report and is incorporated herein by reference.

The foregoing information is furnished pursuant to Item 7.01, including Exhibits 99.2 and 99.3 attached hereto, and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. It may only be incorporated by reference into another filing under the Exchange Act or Securities Act if such subsequent filing specifically references this Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description of Exhibit
99.1	Earnings Press Release dated October 29, 2025
99.2	Earnings Call Presentation dated October 29, 2025
99.3	Investor Presentation dated October 2025
104	The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		MIMEDX GROUP, INC.
October 29, 2025	By:	/s/ Doug Rice
		Doug Rice<br>Chief Financial Officer

investorpresentationdeck

October 2025 Investor Presentation

Disclaimer & Cautionary Statements This presentation and our earnings call includes forward-looking statements. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Such forward-looking statements include statements regarding: • Growing expansion outside of the U.S.; • Our growth expectations in 2025 and beyond, including our growth in surgery, increased funding in targeted research and expanded product portfolio; • Expected results of research and development, including that our efforts will innovate and diversify our product portfolio; • Placental-derived products and their potential clinical benefits; • EPIEFFECT enrollment; • Expectations regarding the reimbursement environment for the Company’s products, including Medicare Spending and changes to CMS rules in 2026; • Expectations regarding HELIOGEN, AMNIOFIX and AMNIOEFFECT driving Surgical growth; • CELERA’s impact on retaining business and its impact on our financial results; • Our expectations that we will continue to advocate for Medicare spending reform; • Exposure to tariffs and the anticipation that they will not impact the Company’s results; • 2025 full-year revenue growth and Adjusted EBITDA margin, our Long-term non-GAAP effective tax rates and top-line growth post reform in Medicare spending; • Our ability to manage Private Office dynamics, including adjusting our strategy to remain competitive; and • The Company’s long-term strategy and goals for value creation, the status of its pipeline products, expectations for future products, and expectations for future growth and profitability Additional forward-looking statements may be identified by words such as "believe," "expect," "may," "plan," "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: • Future sales are uncertain and are affected by competition, access to customers, patient access to hospitals and healthcare providers, the reimbursement environment and many other factors; • The future market for the Company’s products can depend on regulatory approval of such products, which might not occur at all or when expected, and is based in part on assumptions regarding the number of patients who elect less acute and more acute treatment than the Company’s products, market acceptance of the Company’s products, and adequate reimbursement for such therapies; • The process of obtaining regulatory clearances or approvals to market a biological product or medical device from the FDA or similar regulatory authorities outside of the U.S. is costly and time consuming, and such clearances or approvals may not be granted on a timely basis, or at all, and the ability to obtain the rights to market additional, suitable products depends on negotiations with third parties which may not be forthcoming; and • The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this presentation and the Company assumes no obligation to update any forward-looking statement. Investor Presentation – October 2025 2

A Pioneer and Leader Focused on Helping Humans Heal Investor Presentation – October 2025 3 Over a decade of experience helping clinicians manage chronic and other hard-to-heal wounds Leading the industry with innovative products and robust supporting clinical data Poised to capitalize on favorable market trends to drive top line growth and profitability Our vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life.

The Most Comprehensive End-to-End Product Ecosystem 4Investor Presentation – October 2025 The most studied portfolio of placental products with 50+ clinical & scientific publications and over 300 million payer covered lives. New product innovations leading to untapped opportunities for growth, including an increasing footprint in the Surgical market. A key partner to healthcare professionals with industry leading support services and customer-focused approach. Large, national placental donation network and proprietary tissue processing.

Expansive Donor Network & IP Power Our Product Offering 5Investor Presentation – October 2025 National Network of Birthing Center Partners Ample Placental Supply and Manufacturing Capabilities to Support Continued Growth and Industry Demand Expectant Mothers Introduced to Donation Program Consent for Donation Obtained Delivery of Healthy Baby via Caesarean Section Donated Placental Tissues Recovered Tissues Transported to MIMEDX Donor Tissue Tested & Prepared for Manufacturing Proprietary Processing Backed by Broad Portfolio of Intellectual Property Proprietary Processing & Terminal Sterilization of Tissues Shelf-Stable, Packaged Product Available to Ship Robust IP Estate with 200+ Patents Significant Opportunity for Continued Scale

Addressing a Large and Unmet Need for Healing Solutions Investor Presentation – October 2025 6 Favorable Demographic Trends Increasing Clinical Evidence Expanding Potential For Products 1) Sen CK. Human Wound and Its Burden: Updated 2022 Compendium of Estimates. Adv Wound Care (New Rochelle). 2023;12(12):657-670. 2) Tettelbach WH, et al. Cost-effectiveness of dehydrated human amnion/chorion membrane allografts in lower extremity diabetic ulcer treatment. J Wound Care. 2022 Feb 1;31(Sup2):S10-S31. Ineffective Wound Management Leads to Poor Outcomes When applied following parameters for use, patients treated with EPIFIX® experienced reductions in major amputations and hospital utilization.2 It is estimated that up to 85% of amputations are avoidable with a holistic multispecialty team approach that incorporates innovative treatments and adherence to treatment parameters.2 Population suffering from chronic, non- healing wounds in the U.S.1, including diabetic foot ulcers (DFUs), venous leg ulcers (VLUs), pressure ulcers and more. Population is impacted by chronic wounds— and this proportion is increasing.1 Advances Driving Improved Outcomes for Wound Patients Emerging Opportunities in Surgical Setting MIMEDX products are available in all settings where patients receive care, increasingly used in a variety of surgical settings, representing incremental market opportunities. 10+ million people ~16% of Medicare beneficiaries

The Patient Journey in Wound Care 7Investor Presentation – October 2025 Private Office Home Health Mobile Health Nursing Facility Assisted Living Facility Wound Care Clinic Hospital Outpatient Hospital Inpatient …and other care settings Mohs surgery Burn/Trauma DFU VLU Limb Salvage Dehiscence Acute Wounds Chronic Wounds Complex Wounds MIMEDX products are available throughout the continuum of care and are used on a range of chronic and other hard-to-heal wounds.

Surgical Studies Underway Highlight Product Versatility… 8Investor Presentation – October 2025 Published May 2025 Journal of Drugs in Dermatology Publication Submitted Generating Clinical Data in Numerous Surgical Disciplines Incorporating Use of MIMEDX Products EPIFIX in Mohs (HECON) AMNIOFIX in Complicated Diverticulitis RCT Enrollment Underway AMNIOFIX in Liver Transplant RCT Enrollment Underway AMNIOFIX in Breast Reduction AMNIOEFFECT in High-Risk Vascular E-Published April 2025 Vascular AMNIOFIX in ACL Repair Publication Submitted

… And Expand Our Opportunities, While Reducing Health & Economic Burdens Anastomotic leaks are a serious postoperative complication of intestinal surgeries, with significant health and economic consequences that burden providers, payors and patients Investor Presentation – October 2025 9 Increased Morbidity & Mortality Increased Hospitalization Costs Increased Rate of Secondary Postoperative Complications Increased Reoperation Rate Reduced Quality of Life Extended Length of Stay Increased Readmission Rates Anastomotic leak consequences include1: 1) Rennie O, Sharma M, Helwa N. Colorectal anastomotic leakage: a narrative review of definitions, grading systems, and consequences of leaks. Front Surg. 2024;11:1371567. Published 2024 May 2. 2) Hammond J, Lim S, Wan Y, Gao X, Patkar A. The burden of gastrointestinal anastomotic leaks: an evaluation of clinical and economic outcomes. J Gastrointest Surg. 2014;18(6):1176-1185. Per 1,000 patients, the economic burden associated with anastomotic leaks is approximately $28 million2, representing a multibillion cost to the healthcare system. AMNIOFIX applied directly to a colorectal anastomosis: AMNIOFIX recipients experienced significant reductions in leak rates and hospital readmissions

Highlights from Our Expanding Product Portfolio 10Investor Presentation – October 2025 Innovative Wound Products Growing Surgical Offering Expanding into Xenografts

Large Wound Care Business with Growing Surgical Footprint 11Investor Presentation – October 2025 $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $0 00 s LTM Surgical Performance LTM @ Q3:24 LTM @ Q3:25 $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $0 00 s LTM Wound Performance LTM @ Q3:24 LTM @ Q3:25 66% 34% LTM Sales Mix by Product Type Wound Surgical +15% +15%

$70MM $86MM $88MM $100MM $124MM Q3:24 Q4:24 Q1:25 Q2:25 Q3:25 Financial Highlights 12Investor Presentation – October 2025 LTM Net Sales $393MM +15% year-over-year LTM GAAP Gross Margin 82% LTM Adjusted EBITDA1 $96MM 24% of net sales LTM GAAP Net Income $41MM Net Cash Balance $124MM +77% vs. Q3:24 LTM Free Cash Flow $67MM 77% Net Cash Balance Growth Since Q3:24 Quarterly Net Cash Balance 1) EBITDA, Adjusted EBITDA, related margins and Free Cash Flow are non-GAAP financial measures. See our Earnings Release for the quarter ended September 30, 2025 for a reconciliation to the nearest GAAP measure.

Final Medicare Rules Expected to Transform Market in 2026 Investor Presentation – October 2025 13 Setting the fixed price using other reasonable inputs, resulting in a modest increase to the price per cm2Setting a higher application fee for providers covered by the PFS Reimbursing skin substitutes as pass-through items MIMEDX supports CMS’ approach, but has submitted a few suggestions to refine the methodology Comment Period Applying an inflationary index moving forward Phasing in the price change over timeWaiver of co-pay obligation for beneficiaries related to skin substitutes

Strategic Priorities Position Us to Win in 2025 & Beyond Investor Presentation – October 2025 14 Innovate & Diversify Product Portfolio to Maximize Growth Develop & Deploy Programs to Expand Surgical Footprint Enhance Customer Intimacy EPIEFFECT RCT interim report drafted, with positive results based upon enrollment thus far EPIXPRESS launch underway, with positive customer feedback Continue to invest in our portfolio, expect to launch CHORIOFIX in 2026 Surgical uptake continues to be very strong, with Q3 growth of 26% AMNIOFIX & AMNIOEFFECT continues to see strong uptake in a variety of surgical procedures HELIOGEN sales again accelerated in Q3 Added new features to MIMEDX Connect, including ability for customers to pay their bills Underway with ONE MIMEDX program internally, as our customer intimacy efforts extend to our employees Believe there remains a long runway to further drive customer intimacy 1 2 3

Experienced, Skillful Leadership Team Executing Strategy Investor Presentation – October 2025 Prior Roles Include: Management Team with Track Record of Success in MedTech Joe Capper Chief Executive Officer Doug Rice Chief Financial Officer Butch Hulse Chief Administrative Officer & General Counsel Kim Moller Chief Commercial Officer Ricci Whitlow Chief Operating Officer John Harper, Ph.D. Chief Scientific Officer & SVP, R&D Matt Notarianni Head of IR 15

Conclusion Investor Presentation – October 2025 16 1 2 3 4 Large & expanding addressable markets, particularly in Surgical Maturing reimbursement & regulatory landscape 5 Competitive advantage with innovative products, defensible IP and proprietary technology Strong & improving financial profile & balance sheet Experienced & skillful leadership team more than capable of executing strategy

Appendix 17Investor Presentation – October 2025

Reconciliation of Non-GAAP Measures (cont.) • Each of the adjustments to reconcile Adjusted Net Income to GAAP net income affect individual financial statement captions which are reflected in our consolidated statements of operations, including gross profit. Adjusted Gross Profit is therefore defined as GAAP gross profit plus (i) loss on extinguishment of debt, (ii) investigation restatement and related expenses, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) transaction related expenses, (vi) strategic legal and regulatory expenses, and (vii) expenses related to disbanding of our Regenerative Medicine business unit, and (viii) the long-term effective income tax rate adjustment., to the extent that these adjustments impact GAAP gross profit. Adjusted Gross Margin is calculated as Adjusted Gross Profit divided by GAAP net sales. • Free Cash Flow is intended to provide a measure of our ability to generate cash in excess of capital investments. It provides management with a view of cash flows which can be used to finance operational and strategic investments. Free Cash Flow is defined as net cash provided by operating activities less capital expenditures, including purchases of equipment. 19Investor Presentation – October 2025

Adjusted Gross Profit & Adjusted Gross Profit Margin 20Investor Presentation – October 2025 Three Months Ended Amounts (in millions) September 30, 2025 September 30, 2024 GAAP gross profit $ 95.0 $ 68.7 Amortization of acquisition-related intangible assets 4.6 0.4 Adjusted Gross Profit $ 99.6 $ 69.1 Adjusted Gross Profit Margin 87.6 % 82.2 %

Adjusted EBITDA - QTD 21Investor Presentation – October 2025 Amounts (in millions) for the three months ended September 30, 2025 September 30, 2024 Net income $ 16.7 $ 8.1 Depreciation expense 0.6 0.6 Amortization of intangible assets 4.7 0.6 Interest income, net (0.8) (0.3) Income tax provision 6.1 3.5 Stock-based compensation expense 4.9 3.8 Strategic legal and regulatory expenses 2.5 1.0 Transaction-related expenses 0.2 0.1 Investigation, restatement and related expense — 0.6 Impairment of intangible assets — 0.3 Disbanding of Regenerative Medicine — (0.2) Adjusted EBITDA $ 34.9 $ 18.2 Adjusted EBITDA margin 30.7 % 21.6 %

Adjusted Net Income and Adjusted EPS - QTD 22 (1) Reflects adjustment for a long-term expected tax rate of 25%, roughly equal to the statutory Federal tax rate (21%) plus the Company’s state effective tax rate, net of federal benefit (~4%). Calculation does not consider differences in treatment of income and expense items for tax purposes, nor does it consider net operating losses and other deferred tax assets available to the Company. Investor Presentation – October 2025 Amounts (in millions) for the three months ended September 30, 2025 September 30, 2024 Net income - GAAP $ 16.7 $ 8.1 Amortization of acquisition-related intangible assets 4.6 0.4 Strategic legal and regulatory expenses 2.5 1.0 Disbanding of Regenerative Medicine — (0.2) Investigation, restatement and related expense — 0.6 Transaction-related expenses 0.2 0.1 Adjustment for income taxes1 (1.4) 0.1 Adjusted net income $ 22.6 $ 10.1 Weighted average common shares outstanding - adjusted (millions)2 149.7 148.4 Adjusted earnings per share $ 0.15 $ 0.07

Free Cash Flow 23Investor Presentation – October 2025 Three months ended Amounts in millions September 30, 2025 September 30, 2024 Cash flows from operating activities $ 29.3 $ 19.6 Purchases of equipment (0.2) (0.2) Free Cash Flow $ 29.1 $ 19.5

earningscalldeckq3

Financial Results Conference Call October 29, 2025 Q3:2025

Disclaimer & Cautionary Statements This presentation and our earnings call includes forward-looking statements. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Such forward-looking statements include statements regarding: • Our growth expectations in 2025 and beyond, including our growth in surgery, increased funding in targeted research and expanded product portfolio; • Expected results of research and development, including that our efforts will innovate and diversify our product portfolio; • Placental-derived products and their potential clinical benefits; • EPIEFFECT enrollment; • Expectations regarding the reimbursement environment for the Company’s products, including Medicare Spending and changes to CMS rules in 2026; • Expectations regarding HELIOGEN, AMNIOFIX and AMNIOEFFECT driving Surgical growth; • the future of CELERA and EMERGE’s and their impact on our financial results; • 2025 guidance, including revenue growth, adjusted EBITDA margin, gross margin, sales and marketing expenses, G&A expenses, R&D expenses and year end cash balance; • Longer term guidance, including net sales growth and adjusted EBITDA margins; • Our ability to manage Private Office dynamics, including adjusting our strategy to remain competitive; and • The Company’s long-term strategy and goals for value creation, the status of its pipeline products, expectations for future products, and expectations for future growth and profitability. Additional forward-looking statements may be identified by words such as "believe," "expect," "may," "plan," "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: • Future sales are uncertain and are affected by competition, access to customers, patient access to hospitals and healthcare providers, the reimbursement environment and many other factors; • The future market for the Company’s products can depend on regulatory approval of such products, which might not occur at all or when expected, and is based in part on assumptions regarding the number of patients who elect less acute and more acute treatment than the Company’s products, market acceptance of the Company’s products, and adequate reimbursement for such therapies; • The process of obtaining regulatory clearances or approvals to market a biological product or medical device from the FDA or similar regulatory authorities outside of the U.S. is costly and time consuming, and such clearances or approvals may not be granted on a timely basis, or at all, and the ability to obtain the rights to market additional, suitable products depends on negotiations with third parties which may not be forthcoming; and • The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this presentation and the Company assumes no obligation to update any forward-looking statement. Q3:25 Financial Results Conference Call 2

Opening Remarks Joseph H. Capper, Chief Executive Officer 3Q3:25 Financial Results Conference Call

Q3:25 Highlights Q3:25 Financial Results Conference Call 4 Net Sales $114MM +35% YoY GAAP Gross Margin & Adjusted Gross Margin1 84% & 88% GAAP Net Income $17MM Adj. EBITDA1 $35MM 31% of net sales Free Cash Flow1 $29MM 1) Adjusted Gross Margin, Free Cash Flow, Adjusted EBITDA and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. Surgical Growth +26% YoY Q3:25 Net Cash $124MM

Executing on Our Strategic Priorities While Delivering Results Q3:25 Financial Results Conference Call 5 Innovate & Diversify Product Portfolio to Maximize Growth Develop & Deploy Programs to Expand Surgical Footprint Enhance Customer Intimacy EPIEFFECT RCT interim report drafted, with positive results based upon enrollment thus far EPIXPRESS launch underway, with positive customer feedback Solid uptake and feedback of Vaporox as a result of co-marketing pilot Surgical uptake continues to be very strong, with Q3 growth of 26% AMNIOFIX & AMNIOEFFECT continues to see strong uptake in a variety of surgical procedures HELIOGEN sales again accelerated in Q3 Added new features to MIMEDX Connect, including ability for customers to pay their bills Underway with ONE MIMEDX program internally, as our customer intimacy efforts extend to our employees Believe there remains a long runway to further drive customer intimacy 1 2 3

Final Medicare Rules Expected to Transform Market in 2026 Q3:25 Financial Results Conference Call 6 Setting the fixed price using other reasonable inputs, resulting in a modest increase to the price per cm2Setting a higher application fee for providers covered by the PFS Reimbursing skin substitutes as pass-through items MIMEDX supports CMS’ approach, but has submitted a few suggestions to refine the methodology Comment Period Applying an inflationary index moving forward Phasing in the price change over timeWaiver of co-pay obligation for beneficiaries related to skin substitutes

Increasing Full Year 2025 Outlook Q3:25 Financial Results Conference Call 7 Full Year 2025* Long-Term Net Sales % Growth Adjusted EBITDA Margin above 20%Profitability Mid-to-high teens vs. 2024 Low double-digits Reaffirming Long-Term Financial Goals *2025 Outlook provided as of October 29, 2025. Actual results may differ. Adjusted EBITDA Margin of at least mid-20%

Financial Results Doug Rice, Chief Financial Officer 8Q3:25 Financial Results Conference Call

Q3:25 Net Sales Recap Q3:25 Financial Results Conference Call 9 By Product CategoryTotal Net Sales $84MM $114MM Q3:24 Q3:25 $55MM $77MM $29MM $37MM Q3:24 Q3:25 Wound Surgical +40% yoy +26% yoy Growth in Surgical continues to be led by robust uptake of Surgical portfolio, including AMNIOFIX, AMNIOEFFECT and continued ramp in HELIOGEN Sales of CELERA and EMERGE continue to drive growth in Wound

$8MM $10MM $18MM$17MM $23MM $35MM Q3:25 P&L Metrics Q3:25 Financial Results Conference Call 10 $69MM $42MM $12MM $3MM $95MM $54MM $15MM $4MM Q3:24 Q3:25 S&M Adj. EBITDA1GAAP Net Income R&D % of net sales 50% 47% 3% 3% % of net sales 10% 15% 22% 31% Adj. Net Income1 12% 20% Gross Profit & Margin 82% 84% 1) Adjusted Gross Margin, Free Cash Flow, Adjusted EBITDA, Adjusted Net Income and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. G&A 14% 13% Strong sales and favorable mix generated robust gross margins… …and we continued to drive opex leverage… …which combined to drive record Adjusted EBITDA % of net sales Adj. Gross Margin1 82% 88%

77% Net Cash Balance Growth Since Q3:24 $70MM $86MM $88MM $100MM $124MM Q3:24 Q4:24 Q1:25 Q2:25 Q3:25 Q3:25 Balance Sheet & Cash Flows Q3:25 Financial Results Conference Call 111) Free Cash Flow is a non-GAAP financial measure. See the Appendix for a reconciliation to the nearest GAAP measure. $29MMQ3:25 Free Cash Flow1 Record Quarterly Free Cash Flow, driven by strong sales growth and expense management – further strengthens our balance sheet to enable future growth investments $67MMLTM Q3:25 Free Cash Flow1

Joseph H. Capper, Chief Executive Officer 12Q3:25 Financial Results Conference Call Closing Remarks

Summary Q3:25 Financial Results Conference Call 131) Adjusted Gross Margin, Free Cash Flow, EBITDA, Adjusted EBITDA and related margins are non-GAAP financial measures. See Appendix for a reconciliation to the nearest GAAP measure. *2025 Outlook provided as of October 29, 2025. Actual results may differ. Net Sales $114MM +35% YoY GAAP Net Income $17MM Adj. EBITDA1 $35MM 31% of Net Sales Free Cash Flow1 $29MM Recently Launched Pilot Programs Progressing, Including: FY2025 Guidance* Revenue Outlook Mid-to-High Teens percentage basis FY2025 Guidance* Adj. EBITDA Mid-to-High 20s percentage basis

Q&A 14Q3:25 Financial Results Conference Call

Appendix 15Q3:25 Financial Results Conference Call

Reconciliation of Non-GAAP Measures In addition to our GAAP results, we provide certain non-GAAP measures including Adjusted EBITDA, related margins, Free Cash Flow, Adjusted Gross Profit, Adjusted Gross Margin and Adjusted Net Income. • Adjusted EBITDA consists of GAAP net income excluding: (i) depreciation, (ii) amortization of intangibles, (iii) interest (income) expense, net, (iv) income tax provision, (v) share-based compensation, (vi) investigation, restatement and related expenses, (vii) expenses related to disbanding of the Regenerative Medicine business unit, (viii) strategic legal and regulatory expenses, (ix) transaction-related expenses, (x) impairment of intangible assets, and (xi) reorganization expenses. • Adjusted Net Income provides a view of our operating performance, exclusive of certain items which are non-recurring or not reflective of our core operations. Adjusted Net Income is defined as GAAP net income plus (i) loss on extinguishment of debt, (ii) investigation restatement and related expenses, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) transaction related expenses, (vi) strategic legal and regulatory expenses, and (vii) expenses related to disbanding of our Regenerative Medicine business unit, and (viii) the long-term effective income tax rate adjustment. • Each of the adjustments to reconcile Adjusted Net Income to GAAP net income affect individual financial statement captions which are reflected in our consolidated statements of operations, including gross profit. Adjusted Gross Profit is therefore defined as GAAP gross profit plus (i) loss on extinguishment of debt, (ii) investigation restatement and related expenses, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) transaction related expenses, (vi) strategic legal and regulatory expenses, and (vii) expenses related to disbanding of our Regenerative Medicine business unit, and (viii) the long-term effective income tax rate adjustment., to the extent that these adjustments impact GAAP gross profit. Adjusted Gross Margin is calculated as Adjusted Gross Profit divided by GAAP net sales. • Free Cash Flow is intended to provide a measure of our ability to generate cash in excess of capital investments. It provides management with a view of cash flows which can be used to finance operational and strategic investments. Free Cash Flow is defined as net cash provided by operating activities less capital expenditures, including purchases of equipment. 16Q3:25 Financial Results Conference Call

Adjusted Gross Profit & Adjusted Gross Profit Margin 17Q3:25 Financial Results Conference Call Three Months Ended Amounts (in millions) September 30, 2025 September 30, 2024 GAAP gross profit $ 95.0 $ 68.7 Amortization of acquisition-related intangible assets 4.6 0.4 Adjusted Gross Profit $ 99.6 $ 69.1 Adjusted Gross Profit Margin 87.6 % 82.2 %

Adjusted EBITDA - QTD 18Q3:25 Financial Results Conference Call Amounts (in millions) for the three months ended September 30, 2025 September 30, 2024 Net income $ 16.7 $ 8.1 Depreciation expense 0.6 0.6 Amortization of intangible assets 4.7 0.6 Interest income, net (0.8) (0.3) Income tax provision 6.1 3.5 Stock-based compensation expense 4.9 3.8 Strategic legal and regulatory expenses 2.5 1.0 Transaction-related expenses 0.2 0.1 Investigation, restatement and related expense — 0.6 Impairment of intangible assets — 0.3 Disbanding of Regenerative Medicine — (0.2) Adjusted EBITDA $ 34.9 $ 18.2 Adjusted EBITDA margin 30.7 % 21.6 %

Adjusted Net Income and Adjusted EPS - QTD 19 (1) Reflects adjustment for a long-term expected tax rate of 25%, roughly equal to the statutory Federal tax rate (21%) plus the Company’s state effective tax rate, net of federal benefit (~4%). Calculation does not consider differences in treatment of income and expense items for tax purposes, nor does it consider net operating losses and other deferred tax assets available to the Company. Q3:25 Financial Results Conference Call Amounts (in millions) for the three months ended September 30, 2025 September 30, 2024 Net income - GAAP $ 16.7 $ 8.1 Amortization of acquisition-related intangible assets 4.6 0.4 Strategic legal and regulatory expenses 2.5 1.0 Disbanding of Regenerative Medicine — (0.2) Investigation, restatement and related expense — 0.6 Transaction-related expenses 0.2 0.1 Adjustment for income taxes1 (1.4) 0.1 Adjusted net income $ 22.6 $ 10.1 Weighted average common shares outstanding - adjusted (millions)2 149.7 148.4 Adjusted earnings per share $ 0.15 $ 0.07

Free Cash Flow 20Q3:25 Financial Results Conference Call Three months ended Amounts in millions September 30, 2025 September 30, 2024 Cash flows from operating activities $ 29.3 $ 19.6 Purchases of equipment (0.2) (0.2) Free Cash Flow $ 29.1 $ 19.5

pressreleaseq3

MIMEDX Announces Record Revenue for Third Quarter 2025 Second Consecutive Quarter of Highest Quarterly Net Sales in MIMEDX History Third Quarter Net Sales of $114 million Grew 35% Year-Over-Year Third Quarter GAAP Net Income and Diluted Earnings Per Share were $17 Million and $0.11, Respectively Third Quarter Adjusted EBITDA was $35 Million, or 31% of Net Sales Raises 2025 Net Sales Growth and Adjusted EBITDA Expectations Management to Host Conference Call Today, October 29, 2025, at 4:30 PM ET MARIETTA, Ga., October 29, 2025 -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”), today announced operating and financial results for the third quarter 2025. Joseph H. Capper, MIMEDX Chief Executive Officer, commented, "I am pleased to once again report another excellent quarterly financial performance for the Company. Third quarter 2025 net sales grew 35%, driven by double-digit growth in both our Wound and Surgical franchises. By capitalizing on various growth opportunities and continuing to drive efficiencies, we achieved the highest quarterly revenue, adjusted EBITDA and cash flow in the Company's history." Mr. Capper continued, "As we await the final 2026 reimbursement rules from the Centers for Medicare and Medicaid Services (“CMS”), we are planning for a range of potential scenarios. We made certain recommendations to CMS during the comment period, which we believe will improve upon the proposed rules, if incorporated. Importantly, MIMEDX is well positioned to adapt, regardless of the outcome. We believe these reforms will have a much-needed stabilizing effect on our industry and are a net positive for US taxpayers, the Medicare Trust Fund, Medicare beneficiaries and for MIMEDX. As such, we continue to believe the long-term outlook for this Company is incredibly bright." Third Quarter 2025 Results Discussion Net Sales MIMEDX reported net sales for the three months ended September 30, 2025, of $114 million, compared to $84 million for the three months ended September 30, 2024, an increase of 35%. The increase was primarily driven by Wound product sales growth of 40% compared to the prior year period, driven by sales of our newer products, CELERA™ and EMERGE™. Additionally, net sales of our Surgical products increased 26% compared to the prior year period, including double-digit growth of our Surgical portfolio, including AMNIOFIX® and AMNIOEFFECT® and accelerating contributions from HELIOGEN®. Gross Profit and Margin

Gross profit for the three months ended September 30, 2025, was $95 million, compared to $69 million the prior year period. Gross margin for the three months ended September 30, 2025 was 84%, compared to 82% in the prior year period. The year-over-year increase in gross margin was driven primarily by product mix. Operating Expenses Selling, general and administrative ("SG&A") expenses for the three months ended September 30, 2025, were $69 million compared to $54 million for the three months ended September 30, 2024. The increase in SG&A was driven primarily by year-over-year increases in commissions. Research and development ("R&D") expenses for the three months ended September 30, 2025 and 2024, were $4 million and $3 million, respectively. R&D spend in the quarter reflects the randomized controlled trial for EPIEFFECT® and ongoing investments in the development of future products in our pipeline. Net Income Net income for the three months ended September 30, 2025 was $17 million compared to $8 million for the three months ended September 30, 2024. Cash and Cash Equivalents As of September 30, 2025, the Company had $142 million of cash and cash equivalents compared to $104 million as of December 31, 2024. As of September 30, 2025, our cash position, net of debt on our balance sheet, was $124 million. Financial Outlook For 2025, MIMEDX now expects net sales growth to be in the mid-to-high teens as a percentage compared to 2024. 2025 Adjusted EBITDA margin is expected to be at least in the mid-20% range on a full year basis. Longer-term, the Company continues to expect to achieve annual net sales growth in the low double- digits as a percentage with an adjusted EBITDA margin above 20%. Conference Call and Webcast MIMEDX will host a conference call and webcast to review its third quarter 2025 results on Wednesday, October 29, 2025, beginning at 4:30 p.m., Eastern Time. The call can be accessed using the following information: Webcast: Click here U.S. Investors: 877-407-6184 International Investors: 201-389-0877

Conference ID: 13755619 A replay of the webcast will be available for approximately 30 days on the Company’s website at www.mimedx.com following the conclusion of the event. Important Cautionary Statement This press release includes forward-looking statements, including (i) statements regarding our 2025 and longer term financial goals and expectations for future financial results, including net sales growth and Adjusted EBITDA margin; and (ii) our expectations regarding the impact of CMS regulatory actions, including CMS’s 2026 reimbursement rules, on our financial results, outlook and industry. Additional forward-looking statements may be identified by words such as "believe," "expect," "may," "plan," “goal,” “outlook,” "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: (i) future sales are uncertain and are affected by competition, access to customers, patient access to healthcare providers, the reimbursement environment and many other factors; (ii) the Company may change its plans due to unforeseen circumstances; (iii) the results of scientific research are uncertain and may have little or no value; (iv) our ability to sell our products in other countries depends on a number of factors including adequate levels of reimbursement, market acceptance of novel therapies, and our ability to build and manage a direct sales force or third party distribution relationship; (v) the effectiveness of amniotic tissue as a therapy for particular indications or conditions is the subject of further scientific and clinical studies; (vi) we may alter the timing and amount of planned expenditures for research and development based on regulatory developments; (vii) changes in Medicare spending rules; (viii) changes in the size of the addressable market for our product; and (ix) continued market acceptance of our newer products, including CELERA and EMERGE, and continued uptake in demand for surgical products s. The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and the Company assumes no obligation to update any forward-looking statement. About MIMEDX MIMEDX is a pioneer and leader focused on helping humans heal. With more than a decade of helping clinicians manage chronic and other hard-to-heal wounds, MIMEDX is dedicated to providing a leading portfolio of products for applications in the wound care, burn, and surgical sectors of healthcare. The Company’s vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life. For additional information, please visit www.mimedx.com.

Contact: Matt Notarianni Investor Relations 470.304.7291 mnotarianni@mimedx.com Selected Unaudited Financial Information MiMedx Group, Inc. Condensed Consolidated Balance Sheets (in thousands) Unaudited September 30, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 142,083 $ 104,416 Accounts receivable, net 78,186 55,828 Inventory 26,502 23,807 Prepaid expenses 4,248 5,018 Other current assets 3,076 2,817 Total current assets 254,095 191,886 Property and equipment, net 5,003 5,944 Right of use asset 4,668 5,606 Deferred tax asset, net 21,647 28,306 Goodwill 19,441 19,441 Intangible assets, net 11,147 11,626 Other assets 2,987 $ 1,106 Total assets $ 318,988 $ 263,915 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long term debt $ 1,375 $ 1,000 Accounts payable 11,415 7,409 Accrued compensation 27,650 23,667 Accrued expenses 12,825 9,012 Other current liabilities 4,417 4,507 Total current liabilities 57,682 45,595 Long term debt, net 16,839 17,830 Other liabilities 5,521 7,383 Total liabilities 80,042 70,808 Total stockholders' equity 238,946 193,107 Total liabilities and stockholders’ equity $ 318,988 $ 263,915

MiMedx Group, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share amounts) Unaudited Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net sales $ 113,725 $ 84,057 $ 300,535 $ 255,972 Cost of sales 18,719 15,322 53,958 43,164 Gross profit 95,006 68,735 246,577 212,808 Operating expenses: Selling, general and administrative 69,001 53,516 193,121 164,044 Research and development 3,703 2,918 10,336 8,770 Investigation, restatement and related — 649 — (8,741) Amortization of intangible assets 112 192 310 572 Impairment of intangible assets — 298 — 352 Operating income 22,190 11,162 42,810 47,811 Other expense, net Interest income (expense), net 785 278 2,029 (1,409) Other expense, net (126) (21) (372) (357) Income from continuing operations before income tax 22,849 11,419 44,467 46,045 Income tax provision (6,101) (3,541) (11,080) (11,485) Net income from continuing operations 16,748 7,878 33,387 34,560 Income from discontinued operations, net of tax — 217 — 421 Net income $ 16,748 $ 8,095 $ 33,387 $ 34,981 Basic net income per common share: Continuing operations 0.11 0.05 0.23 0.24 Discontinued operations — 0.00 — 0.00 Basic net income per common share $ 0.11 $ 0.05 $ 0.23 $ 0.24 Diluted net income per common share: Continuing operations 0.11 0.05 0.22 0.23 Discontinued operations — 0.00 — 0.00 Diluted net income per common share $ 0.11 $ 0.05 $ 0.22 $ 0.23 Weighted average common shares outstanding - basic 148,035,283 146,958,986 147,692,441 147,008,732 Weighted average common shares outstanding - diluted 149,713,653 148,373,631 149,579,861 148,964,788

MiMedx Group, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) Unaudited Nine Months Ended September 30, 2025 2024 Net cash flows provided by operating activities 49,047 47,416 Net cash flows used in investing activities (6,551) (6,816) Net cash flows used in financing activities (4,829) (33,799) Net change in cash $ 37,667 $ 6,801 Reconciliation of Non-GAAP Measures In addition to our GAAP results, we provide certain non-GAAP measures including Adjusted EBITDA and related margins, Free Cash Flow, Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income, Adjusted SG&A and Adjusted Earnings Per Share ("Adjusted EPS"). We believe that the presentation of these measures provides important supplemental information to management and investors regarding our performance. These measures are not a substitute for GAAP measures. Company management uses these non-GAAP measures as aids in monitoring our ongoing financial performance from quarter-to- quarter and year-to-year on a regular basis and for benchmarking against comparable companies. These non-GAAP financial measures reflect the exclusion of the following items: • Share-based compensation - expense recognized related to awards to employees and our board of directors issued pursuant to our share-based compensation plans. This expense is reflected amongst cost of sales, research and development expense, and selling, general, and administrative expense in the unaudited condensed consolidated statements of operations. • Amortization of acquired intangible assets - reflects amortization expense recognized solely related to assets which were acquired as part of a transaction. These expenses are generally reflected in cost of sales in our unaudited condensed consolidated statements of operations. • Strategic legal and regulatory expenses - relates to litigation and regulatory expenses deemed strategically important to our operations. Litigation expenses incurred relate to suits filed against former employees and their employers for violation of non-compete and non-solicitation agreements and certain patent infringement matters. Regulatory expenses relate to legal fees incurred stemming from action taken against the United States Food & Drug Administration ("FDA") surrounding the designation of one of our products. These expenses are generally reflected in selling, general and administrative expense in our unaudited condensed consolidated statements of operations. • Reorganization expense - expenses incurred toward the realignment of our operating strategy. These expenses relate to severance expenses related to certain executive leaders. These expenses are reflected as a component of selling, general, and administrative expense in the unaudited condensed consolidated statements of operations.

• Investigation, restatement and related expense (benefit) - expenses incurred toward the legal defense of the Company and advanced on behalf of former officers and directors, net of negotiated reductions and settlements of amounts previously advanced, related to certain legal matters. This expense is reflected in the line of the same name in our unaudited condensed consolidated statements of operations. These expenses ceased in Q4 2024. • Impairment of intangible assets - reflects the impairment of intangibles. This expense is reflected in the line of the same name in our unaudited condensed consolidated statements of operations. • Expenses related to the disbanding of Regenerative Medicine - incremental expenses recognized or incurred directly as a result of our announcement to disband our Regenerative Medicine segment. These expenses ceased in Q3 2024. • Loss on extinguishment of debt - reflects the excess of cash paid to extinguish debt over the carrying value of the debt on our balance sheet upon the repayment and termination of a loan agreement. These expenses are reflected as a component of interest income (expense), net in our unaudited condensed consolidated statements of operations. • Income Tax Adjustment - for purposes of calculating Adjusted Net Income and Adjusted Earnings Per Share, reflects our expectation of a long-term effective tax rate, which is normalized and balance sheet-agnostic. Actual tax expense will be based on GAAP earnings, and may differ from the expected long-term effective tax rate due to a variety of factors, including the tax treatment of various transactions included in GAAP net income and other reconciling items that are excluded in determining Adjusted Net Income and Adjusted EPS. The actual long-term normalized effective tax rate was 25% for each of the quarters and year-to-date periods ended September 30, 2025 and 2024. Adjusted EBITDA and Adjusted EBITDA margin Adjusted EBITDA consists of GAAP net income excluding (i) share-based compensation, (ii) income tax provision, (iii) amortization of intangible assets (iv) strategic legal and regulatory expenses, (v) interest (income) expense, net, (vi) depreciation expense, (vii) reorganization expenses, (viii) transaction-related expenses, (ix) investigation, restatement and related expenses, (x) impairment of intangible assets , and (xi) expenses related to disbanding of Regenerative Medicine Business Unit. A reconciliation of GAAP net income to Adjusted EBITDA appears in the table below (dollars in thousands):

Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net Income $ 16,748 $ 8,095 $ 33,387 $ 34,981 Non-GAAP Adjustments: Share-based compensation 4,920 3,810 13,933 12,240 Income tax provision 6,101 3,541 11,080 11,485 Amortization of intangible assets 4,719 575 9,969 1,336 Strategic legal and regulatory expenses 2,515 1,035 6,691 1,666 Interest (income) expense, net (785) (278) (2,029) 1,409 Depreciation expense 573 580 1,692 1,715 Reorganization expenses — — 826 — Transaction related expenses 159 95 799 651 Investigation, restatement and related benefit — 649 — (8,741) Impairment of intangible assets — 298 — 352 Expenses related to disbanding of Regenerative Medicine Business Unit — (217) — (421) Adjusted EBITDA $ 34,950 $ 18,183 $ 76,348 $ 56,673 Adjusted EBITDA margin 30.7 % 21.6 % 25.4 % 22.1 % Adjusted Net Income Adjusted Net Income provides a view of our operating performance, exclusive of certain items which are non-recurring or not reflective of our core operations. Adjusted Net Income is defined as GAAP net income plus (i) amortization of acquired intangible assets, (ii) strategic legal and regulatory expenses, (iii) reorganization expenses, (iv) transaction related expenses, (v) investigation, restatement and related expense (benefit), (vi) loss on extinguishment of debt, (vii) expenses related to disbanding of Regenerative Medicine business unit, (viii) impairment of intangible assets, and (ix) the long-term effective income tax rate adjustment. A reconciliation of GAAP net income to Adjusted Net Income appears in the table below (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net income $ 16,748 $ 8,095 $ 33,387 $ 34,981 Amortization of acquired intangible assets 4,615 383 9,667 765 Strategic legal and regulatory expenses 2,515 1,035 6,691 1,666 Reorganization expenses — — 826 — Transaction related expenses 159 95 799 651 Investigation, restatement and related benefit — 649 — (8,741) Impairment of intangible assets — 298 — 352 Expenses related to disbanding of Regenerative Medicine Business Unit — (217) — (421) Loss on extinguishment of debt — — — 1,401 Long-term effective income tax rate adjustment (1,433) 71 (4,532) 950 Adjusted net income $ 22,604 $ 10,409 $ 46,838 $ 31,604

A reconciliation of various line items included in our GAAP unaudited condensed consolidated statements of operations to Adjusted Net Income for the three months ended September 30, 2025 and 2024 are presented in the tables below (in thousands): Three Months Ended September 30, 2025 Gross Profit Selling, General & Administrative Expense Research and Development Expense Net Income Reported GAAP Measure $ 95,006 $ 69,001 $ 3,703 $ 16,748 Amortization of acquired intangible assets 4,607 — — 4,615 Strategic legal and regulatory expenses — (2,515) — 2,515 Reorganization expenses — — — — Transaction related expenses — (124) — 159 Long-term effective income tax rate adjustment — — — (1,433) Non-GAAP Measure $ 99,613 $ 66,362 $ 3,703 $ 22,604 Reported Gross Profit Margin 83.5 % Gross Profit Margin, as adjusted 87.6 % Three months ended September 30, 2024 Gross Profit Selling, General & Administrative Expense Research and Development Expense Net Income Reported GAAP Measure $ 68,735 $ 53,516 $ 2,918 $ 8,095 Amortization of acquired intangible assets 383 — — 383 Strategic legal and regulatory expenses — (1,035) — 1,035 Transaction related expenses — (36) — 95 Investigation, restatement and related expenses — — — 649 Impairment of intangible assets — — — 298 Expenses related to disbanding of Regenerative Medicine Business Unit — — — (217) Long-term effective income tax rate adjustment — — — 71 Non-GAAP Measure $ 69,118 $ 52,445 $ 2,918 $ 10,409 Reported Gross Profit Margin 81.8 % Gross Profit Margin, as adjusted 82.2 %

Nine Months Ended September 30, 2025 Gross Profit Selling, General & Administrative Expense Research and Development Expense Net Income Reported GAAP Measure $ 246,577 $ 193,121 $ 10,336 $ 33,387 Amortization of acquired intangible assets 9,659 — — 9,659 Strategic legal and regulatory expenses — (6,691) — 6,691 Reorganization expenses — (826) — 826 Transaction related expenses — (689) — 799 Long-term effective income tax rate adjustment — — — (4,532) Non-GAAP Measure 256,236 $ 184,915 $ 10,336 $ 46,830 Reported Gross Profit Margin 82.0 % Gross Profit Margin, as adjusted 85.3 % Nine Months Ended September 30, 2024 Gross Profit Selling, General & Administrative Expense Research and Development Expense Net Income Reported GAAP Measure $ 212,808 $ 164,044 $ 8,770 $ 34,981 Amortization of acquired intangibles 765 — — 765 Strategic legal and regulatory expenses — (1,666) — 1,666 Transaction related expenses — (522) — 651 Investigation, restatement and related benefit — — — (8,741) Impairment of intangible assets — — — 352 Expenses related to disbanding of Regenerative Medicine Business Unit — — — (421) Loss on extinguishment of debt — — — 1,401 Long-term effective income tax rate adjustment — — — 950 Non-GAAP Measure $ 213,573 $ 161,856 $ 8,770 $ 31,604 Reported Gross Profit Margin 83.1 % Gross Profit Margin, as adjusted 83.4 %

Adjusted Earnings Per Share Adjusted Earnings Per Share is intended to provide a normalized view of earnings per share by removing items that may be irregular, one-time, or non-recurring from net income. This enables us to identify underlying trends in our business that could otherwise be masked by such items. Adjusted Earnings Per Share consists of GAAP diluted net income per common share including adjustments for (i) loss on extinguishment of debt, (ii) investigation restatement and related benefit, (iii) impairment of intangible assets, (iv) amortization of acquired intangible assets, (v) strategic legal and regulatory expenses, (vi) transaction-related expenses, (vii) expenses related to disbanding of our Regenerative Medicine business unit, (viii) reorganization expenses, and (ix) the long-term effective income tax rate adjustment. A reconciliation of GAAP diluted earnings per share to Adjusted Earnings Per Share appears in the table below (per diluted share): Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 GAAP net income per common share - diluted $ 0.11 $ 0.05 $ 0.22 $ 0.23 Amortization of acquired intangible assets 0.03 0.00 0.06 0.01 Strategic legal and regulatory expenses 0.02 0.01 0.04 0.01 Reorganization expenses 0.00 0.00 0.01 0.00 Transaction related expenses 0.00 0.00 0.01 0.00 Investigation, restatement and related benefit 0.00 0.01 0.00 (0.06) Impairment of intangible assets 0.00 0.00 0.00 0.00 Expenses related to disbanding of Regenerative Medicine business unit 0.00 0.00 0.00 0.00 Loss on extinguishment of debt 0.00 0.00 0.00 0.01 Long-term effective income tax rate adjustment (0.01) 0.00 (0.03) 0.01 Adjusted Earnings Per Share 0.15 0.07 0.31 0.21 GAAP weighted average common shares outstanding - diluted 149,713,653 148,373,631 149,579,861 148,964,788 Weighted average common shares outstanding - adjusted 149,713,653 148,373,631 149,579,861 148,964,788 Free Cash Flow Free Cash Flow is intended to provide a measure of our ability to generate cash in excess of capital investments. It provides management with a view of cash flows which can be used to finance operational and strategic investments. Free Cash Flow is defined as net cash provided by operating activities less capital expenditures, including purchases of equipment. A reconciliation of GAAP net cash flows provided by operating activities to Free Cash Flow appears in the table below (in thousands):

Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net cash flows provided by operating activities $ 29,329 $ 19,624 $ 49,047 $ 47,416 Capital expenditures, including purchases of equipment (192) (171) (748) (1,420) Free Cash Flow $ 29,137 $ 19,453 $ 48,299 $ 45,996 Supplemental Financial Information Net Sales by Product Category by Quarter Below is a summary of net sales by product category (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Wound $ 77,098 $ 55,052 $ 197,647 $ 169,647 Surgical 36,627 29,005 102,888 86,325 Net sales $ 113,725 $ 84,057 $ 300,535 $ 255,972