$MDXG

MIMEDX GROUP, INC.

CIK:0001376339|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 64,362	$ 98,605	$ 123,353	$ 186,810
Cost of sales	19,981	18,681	37,348	35,239
Gross profit	44,381	79,924	86,005	151,571
Operating expenses:
Selling, general and administrative	59,779	64,151	113,010	124,120
Research and development	2,777	3,303	6,917	6,632
Amortization of intangible assets	291	100	592	199
Operating income	(18,466)	12,370	(34,514)	20,620
Other expense, net
Interest income, net	788	738	1,673	1,244
Other expense, net	(102)	(101)	(270)	(247)
(Loss) income before income tax	(17,780)	13,007	(33,111)	21,617
Income tax benefit (provision)	2,940	(3,389)	7,411	(4,978)
Net (loss) income	$ (14,840)	$ 9,618	$ (25,700)	$ 16,639
Basic net (loss) income per common share (in dollars per share)	$ (0.10)	$ 0.07	$ (0.17)	$ 0.11
Diluted net (loss) income per common share (in dollars per share)	$ (0.10)	$ 0.06	$ (0.17)	$ 0.11
Weighted average common shares outstanding - basic (in shares)	147,795,741	147,761,332	148,119,083	147,518,179
Weighted average common shares outstanding - diluted (in shares)	147,795,741	149,317,281	148,119,083	149,529,544

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net (loss) income	$ (25,700)	$ 16,639
Adjustments to reconcile net (loss) income to net cash flows provided by operating activities
Depreciation and amortization	3,148	6,371
Credit loss expense	6,745	1,093
Non-cash lease expenses	664	619
Share-based compensation	(793)	9,014
Deferred income taxes	(7,699)	908
Other	222	294
Increase (decrease) in cash resulting from changes in:
Accounts receivable	27,664	(14,493)
Inventory	4,409	(1,083)
Other assets	3,282	(2,106)
Accounts payable	(1,234)	792
Accrued compensation	(17,055)	(791)
Accrued expenses	(157)	3,528
Other liabilities	(1,632)	(1,067)
Net cash flows (used in) provided by operating activities	(8,136)	19,718
Cash flows from investing activities:
Cash paid for acquisitions	(5,000)	(700)
Purchases of equipment	(1,168)	(556)
Patent application costs	(109)	(37)
Net cash flows used in investing activities	(6,277)	(1,293)
Cash flows from financing activities:
Cash paid for share repurchases pursuant to Share Repurchase Plan	(12,468)	0
Stock repurchased for tax withholdings on vesting of restricted stock	(2,028)	(2,984)
Principal payments on Citizens Term Loan Facility	(750)	(500)
Cash paid for Profit Share Payment (Note 12)	(607)	(488)
Deferred financing cost	(16)	0
Net cash flows used in financing activities	(15,869)	(3,972)
Net change in cash	(30,282)	14,453
Cash and cash equivalents, beginning of period	166,121	104,416
Cash and cash equivalents, end of period	$ 135,839	$ 118,869

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 135,839	$ 166,121
Accounts receivable, net	41,297	75,707
Inventory	20,931	25,340
Other current assets	7,298	10,303
Total current assets	205,365	277,471
Property and equipment, net	4,914	4,713
Deferred tax asset, net	27,295	19,596
Goodwill	19,441	19,441
Intangible assets, net	12,086	14,158
Other assets	11,897	7,274
Total assets	280,998	342,653
Current liabilities:
Current portion of long term debt	1,500	1,500
Accounts payable	8,293	14,528
Accrued compensation	13,175	31,065
Accrued expenses	11,140	11,383
Other current liabilities	4,390	5,790
Total current liabilities	38,498	64,266
Long term debt, net	15,706	16,467
Other liabilities	10,791	5,372
Total liabilities	64,995	86,105
Stockholders' equity
Common stock; $0.001 par value; 250,000,000 shares authorized; 149,188,840 issued and 145,724,441 outstanding at June 30, 2026 and 148,093,920 issued and outstanding at December 31, 2025	149	148
Additional paid-in capital	297,094	299,081
Treasury stock at cost; 3,464,399 shares at June 30, 2026 and 0 shares at December 31, 2025	(12,859)	0
Accumulated deficit	(68,381)	(42,681)
Total stockholders' equity	216,003	256,548
Total liabilities and stockholders’ equity	$ 280,998	$ 342,653
Common stock, shares outstanding (in shares)	145,724,441	148,093,920