Filing Flows › Mimedx Group (MDXG) › Q4 2025
Mimedx Group (MDXG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Mimedx Group (MDXG) reported revenue of $118M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +4% from the quarter before. Operating margin was 17.8%, net earnings $15.2M (12.9% of revenue).
Mimedx Group, Q4 2025: revenue $118M (+27% year over year), operating margin 17.8%, net earnings $15.2M, operating cash flow $25.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $118M | +4% | +27% |
| Gross profit | $99.0M | +4% | +30% |
| Operating profit | $21.1M | -5% | +91% |
| Net earnings | $15.2M | -9% | +104% |
| Operating cash flow | $25.0M | -15% | +33% |
| Free cash flow | $24.7M | — | +33% |
What changed
Revenue was $118.1M in Q4 2025, up 27% year over year and up 4% from the previous quarter. Wound was the largest line at 67% of revenue.
Gross margin was 83.9%, up 2.1 points from a year earlier. Operating profit was $21.1M, a 17.8% margin (up 5.9 points year over year). Of the extra revenue versus a year earlier, 40% reached operating profit, above the 12% margin then. Operating expenses grew 20% against revenue growth of 27%. The fastest-growing cost line was Research & development (+33%). Net earnings were $15.2M, up 104% year over year. The effective tax rate was 30.3%.
Operating cash flow was $25.0M (up 33% year over year), 164% of net earnings. Non-cash charges added back $12.9M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $5.6M. Capital expenditures of $285K left free cash flow of $24.7M.
Questions
What was Mimedx Group's revenue in the fourth quarter 2025?
Mimedx Group (MDXG) reported revenue of $118M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +4% from the quarter before.
Was Mimedx Group profitable in the fourth quarter 2025?
Operating profit was $21.1M (17.8% of revenue) and net earnings $15.2M.
Source: Mimedx Group 10-K on SEC EDGAR.