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MiMedx Exceeds Fourth Quarter And Full Year 2014 Revenue Forecasts

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, Spinal, Sports Medicine, Ophthalmic and Dental sectors of healthcare, announced record results for the fourth quarter and full year 2014, and reaffirmed its previous guidance for 2015.

Full Year and Fourth Quarter Revenue Highlights

* Q4 revenue exceeds the $38.3 million upper end of Q4 2014 guidance by $1.3 million
* Full Year 2014 revenue exceeds the $117.0 million upper end of guidance
* Q4 is the 13th consecutive quarter of meeting or exceeding revenue guidance
* 2014 is the 3rd consecutive fiscal year of exceeding upper end of guidance

The Company recorded record revenue for the year ended December 31, 2014 of $118.2 million, a $59.0 million or 100% increase over 2013 revenue of $59.2 million. The Company recorded record revenue for the 2014 fourth quarter of $39.6 million, a $21.6 million or 120% increase over 2013 fourth quarter revenue of $18.0 million.

Parker H. Petit, Chairman and CEO, said, "We are pleased to announce our thirteenth consecutive quarter of meeting or exceeding revenue guidance. Our wound care revenue is growing rapidly, and we continue to make steady advances in capturing market share. In 2014, we expanded our efforts focused on the surgical sector of the market. This additional emphasis on surgical applications is developing consistent with our outlook, and we expect it to continue to build momentum throughout 2015. As we have stated on many previous occasions, our allografts have enormous potential to contribute to the improved outcomes of countless medical procedures and applications. We are very excited about the opportunities ahead of us as we broaden the market sectors we serve."

2015 Outlook
On December 15, 2014, the Company issued a press release announcing its expectations for 2015. Included in that guidance were revised expectations for full year 2015 revenue to be in the range of $175.0 million to $190.0 million, up from earlier expectations of $175.0 million to $185.0 million. The Company reiterated this upgraded 2015 guidance in its press release of January 6, 2015.

"Management continues to be comfortable with our guidance range. We had a very strong finish to 2014 and we are excited about our prospects for continuing to deliver robust period-over-period growth in 2015," concluded Mr. Pete Petit.