MiMedx Group, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the SEC on October 28, 2026, reporting a third-quarter net loss and a significant year-over-year decline in net sales.

Key Highlights

  • Net sales declined sharply: Third-quarter net sales were $62,283 thousand, compared with $113,725 thousand in the same quarter of 2025.
  • Operating loss reported: The company reported an operating loss of $11,702 thousand for the three months ended September 30, 2026, versus operating income of $22,190 thousand a year earlier.
  • Net loss of $8,683 thousand: Basic and diluted net loss per common share were each $(0.06) for Q3 2026, compared with net income of $0.11 per share in Q3 2025.
  • Cash position decreased: Cash and cash equivalents stood at $120,791 thousand at September 30, 2026, down from $166,121 thousand at December 31, 2025.
  • Debt eliminated: Long-term debt, net was $0 at September 30, 2026, compared with $16,467 thousand at December 31, 2025.
  • Treasury stock initiated: The company held 3,464,399 treasury shares at a cost of $12,859 thousand at September 30, 2026; no treasury shares were held at December 31, 2025.
  • Pending acquisition disclosed: The filing references a pending acquisition of Sanara MedTech Inc., including expected timing, required regulatory and shareholder approvals, and anticipated financing.

MiMedx Reports Steep Revenue Decline and Operating Loss in Third Quarter 2026

According to the filing, MiMedx Group, Inc. (NASDAQ:MDXG) recorded net sales of $62,283 thousand for the three months ended September 30, 2026, a decline from $113,725 thousand in the comparable prior-year period. For the nine months ended September 30, 2026, net sales totaled $185,636 thousand, down from $300,535 thousand for the same period in 2025. The company attributed part of its forward-looking uncertainty to "recent changes in Medicare reimbursement for skin substitutes," as noted in its forward-looking statements section.

Gross profit for Q3 2026 was $49,702 thousand, compared with $95,006 thousand in Q3 2025. Selling, general and administrative expenses were $58,313 thousand for the quarter, contributing to an operating loss of $11,702 thousand. The company recorded an income tax benefit of $2,379 thousand for the quarter, which partially offset the pre-tax loss of $11,062 thousand, resulting in a net loss of $8,683 thousand. For the nine months ended September 30, 2026, the accumulated net loss was $34,383 thousand, compared with net income of $33,387 thousand for the same period in 2025.

On the balance sheet, total assets were $264,552 thousand at September 30, 2026, down from $342,653 thousand at December 31, 2025. Accounts receivable, net fell to $37,269 thousand from $75,707 thousand over the same period. Total stockholders' equity was $211,082 thousand at September 30, 2026, versus $256,548 thousand at December 31, 2025. The accumulated deficit widened to $77,064 thousand from $42,681 thousand at year-end 2025. There were 145,925,591 shares of common stock outstanding as of October 22, 2026, according to the filing.

What Was Disclosed

MiMedx filed its Q3 2026 Form 10-Q disclosing materially lower net sales, an operating loss, reduced cash, elimination of long-term debt, initiation of a treasury stock program, and a pending acquisition of Sanara MedTech Inc. The filing covers the quarterly period ended September 30, 2026.