MIMEDX GROUP, INC.MDXG

MIMEDX GROUP, INC. Earnings Per Share Disclosure

10-KFiled Feb 25, 20262 min read
Net Income Per Common Share
Net income per common share is calculated using two methods: basic and diluted.
Basic Net Income Per Common Share
The following table provides a reconciliation of net income from continuing operations and calculation of basic net income per common share for each of the years ended December 31, 2025, 2024, and 2023 (in thousands, except share and per share amounts):
 Year ended December 31,
 202520242023
Net income from continuing operations$48,578 $41,998 $67,439 
Income (loss) from discontinued operations, net of tax— 421 (9,211)
Net income48,578 42,419 58,228 
Adjustments to reconcile to net income available to common stockholders:
Accumulated dividend on previously converted Series B Preferred Stock— — 6,753 
Preferred share repurchase in excess of book value— — 4,890 
Total adjustments— — 11,643 
Net income available to common stockholders from continuing operations$48,578 $41,998 $55,796 
Weighted average common shares outstanding147,793,069 146,979,354 116,495,810 
Basic net income (loss) per common share:
Continuing operations$0.33 $0.29 $0.48 
Discontinued operations— — (0.08)
Basic net income per common share
$0.33 $0.29 $0.40 
Diluted Net Income Per Common Share
The following table sets forth the computation of diluted net income per common share (in thousands, except share and per-share amounts):
 Year ended December 31,
 202520242023
Net income available to common stockholders from continuing operations$48,578 $41,998 $55,796 
Adjustments:
Dividends on previously converted Series B Preferred Stock— — 6,466 
Preferred share repurchase in excess of book value— — 5,177 
Less: antidilutive adjustments— — (5,177)
Total adjustments— — 6,466 
Numerator
Net income available to common stockholders from continuing operations48,578 41,998 62,262 
Income (loss) from discontinued operations, net of tax— 421 (9,211)
Weighted average common shares outstanding147,793,069 146,979,354 116,495,810 
Adjustments:
Potential common shares (a)
Previously converted Series B Preferred Stock— — 27,457,905 
Restricted stock unit awards1,252,226 1,447,217 1,452,153 
Outstanding stock options526,105 473,015 396,779 
Performance stock unit awards153,107 149,611 137,425 
Restricted stock awards— — 22,136 
Employee stock purchase plan— — 254 
Total adjustments1,931,438 2,069,843 29,466,652 
Weighted average common shares outstanding adjusted for potential common shares149,724,507 149,049,197 145,962,462 
Diluted net income (loss) per common share:
Continuing operations$0.32 $0.28 $0.43 
Discontinued operations0.00 0.00 (0.06)
Diluted net income per common share
$0.32 $0.28 $0.37 
(a)Weighted average common shares outstanding for the calculation of diluted net loss per common share does not include the following adjustments for potential common shares below because their effects were determined to be anti-dilutive for the periods presented:
 Year Ended December 31,
 202520242023
Repurchase of Series B Preferred Stock— — 1,219,348 
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About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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