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Mimedx Group (MDXG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Mimedx Group (MDXG) Q3 2026 earnings results →
Q3 2026 Revenue down 45% year over year to $62.3M · 14¢ of every $1 of revenue lost · operating margin -18.8%
Mimedx Group made $62.3M in Q3 2026 (-45% Y/Y): Surgical $40.0M, Wound $22.3M. Operating margin -18.8%, net loss $8.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $62.3M in Q3 2026, down 45% year over year and down 3% from the previous quarter. Surgical was the largest line at 64% of revenue. Wound lost $54.8M year over year (down 71%), 106% of the total change.
Gross margin was 79.8%, down 3.7 points from Q3 2025. Operating costs exceeded revenue by $11.7M, an operating margin of -18.8%. Operating expenses fell 16% while revenue fell 45%. The quarter ended with a net loss of $8.7M, narrower than the previous quarter's $14.8M loss.
Operating cash flow was $3.9M (down 87% year over year). Non-cash charges added back $665K of depreciation and amortization and $3.2M of share-based compensation. Working capital and other items added $8.7M. Capital expenditures of $166K left free cash flow of $3.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $62.3M | -45% | -18.8% | −$8.7M | $3.9M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $64.4M | -35% | -28.7% | −$14.8M | −$10.0M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $59.0M | -33% | -27.2% | −$10.9M | $1.9M |
| Q4 2025 | 10-K | Feb 25, 2026 | $118M | +27% | 17.8% | $15.2M | $25.0M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $114M | +35% | 19.5% | $16.7M | $29.3M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $98.6M | +13% | 12.5% | $9.6M | $14.4M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $88.2M | +4% | 9.4% | $7.0M | $5.3M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- U.S. government — 22% of its revenue · Stated in 10-K (sentence) · source
About Mimedx Group
MIMEDX is a pioneer and leader focused on helping humans heal. With nearly two decades of helping clinicians manage chronic and other hard-to-heal wounds, MIMEDX provides 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. Since its inception, MIMEDX has focused on leading the industry with its deep expertise, unmatched peer-reviewed scientific and clinical data, robust intellectual property portfolio and an expansive library of real-world evidence supporting the use of our products. Historically, our sole focus has been on placental biologics.
In its own words, from its 10-K, filed Feb 25, 2026.
Mimedx Group against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -45% against the peers' median +5%. Operating margin: -18.8% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MDXG Mimedx Group | Q3 2026 | $62.3M | -45% | -18.8% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: Mimedx Group 10-Q on SEC EDGAR · CIK 1376339 · Surgical & Medical Instruments & Apparatus
13F: who owns MDXG and who is buying
More on MDXG
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- Mimedx Group next earnings date and what analysts expect
- Mimedx Group stock forecast, price target and fair value
- Who owns Mimedx Group stock: holders, funds and Congress trades
- Mimedx Group guidance and outlook
- Is Mimedx Group a takeover target? LBO and rumors
- Mimedx Group recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Mimedx Group guidance history: guided vs reported
- Mimedx Group gross margin by quarter
- Mimedx Group operating margin by quarter
- Mimedx Group net income by quarter
- Mimedx Group free cash flow by quarter
- Mimedx Group R&D spending by quarter
- Mimedx Group capital expenditures by quarter
- Mimedx Group Surgical revenue by quarter
- Mimedx Group Wound revenue by quarter