MiMedx Group, Inc. (NASDAQ:MDXG) Q2 2020 Earnings Conference Call - Preliminary Transcript

Aug 11, 2020 • 08:30 am ET

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MiMedx Group, Inc. (NASDAQ:MDXG) Q2 2020 Earnings Conference Call - Preliminary Transcript

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Presentation
Operator
Operator

Good morning and welcome to the MiMedx Second Quarter 2020 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded.

I would now like to turn the conference call over to Hilary Dixon, MiMedx's Vice President of Investor Relations and Corporate Communications. Please go ahead.

Executive
Hilary Dixon

Thank you, operator and good morning. With me today are Tim Wright, Chief Executive Officer; and Pete Carlson, Chief Financial Officer. Additional members of senior management will also be available to answer your question.

Before we begin, I want to point out that we issued two press releases recently announcing key additions to our senior management team Dr. Rohit Kashyap as the Executive Vice President and Chief Commercial Officer; and Dr. Robert Stein as Executive Vice President Research and Development.

I also want to highlight that on August 3, we filed our definitive proxy statement and announced that we will hold our 2019 Annual Meeting of Shareholders on August 31, 2020 in a virtual format. The press release reviewing second quarter 2020 financial results was issued on August 4, and is available on our website.

I'd also like to remind you that remarks made during today's call include forward-looking statements. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, actual outcomes and results are subject to risks and uncertainties and may differ materially from those anticipated due to many factors.

Listeners are directed to the risk factors set forth in MiMedx's 2019 annual report on Form 10-K, and the second quarter 2020 quarterly report on Form 10-Q for factors that could cause actual outcomes and results to differ materially from those reflected in the forward-looking statement. The company assumes no obligation to update or supplement any forward-looking statements, except as required by law.

This call will also include references to certain financial measures, such as adjusted EBITDA and adjusted EBITDA margin that are not calculated in accordance With Generally Accepted Accounting Principles or GAAP. Reconciliations of this non-GAAP financial measures to the most comparable measures, calculated and presented in accordance with GAAP are available in the earnings press release on the Investor Relations portion of our website. With that, I'm pleased to turn the call over to MiMedx, Chief Executive Officer, Tim Wright.

Executive
Tim Wright

Thank you, Hilary. And thank you to everyone joining us on the call this morning.

I could not be more pleased to say that MiMedx's current and its financial reporting requirements, filing the second quarter Form 10-Q represents a significant milestone for our company. It's the first time since 2017 that MiMedx has timely filed an annual or quarterly report.

Over the past year, my primary priorities have been to restore the financial integrity of the company, build a capable and cohesive management team, progressing the resolution of the company's legal matters, refining the company's approach around enforcement discretion in compliance with the