MIMEDX GROUP INC
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
MDXG$3.37+1.5%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows – For the years ended
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income (loss) from continuing operations | $67,439 | $(19,953) | $(12,301) |
| Adjustments to reconcile net income (loss) from continuing operations to net cash flows provided by (used in) operating activities of continuing operations: | |||
| Deferred income tax provision | (37,802) | — | — |
| Share-based compensation | 16,959 | 11,328 | 14,156 |
| Depreciation | 2,665 | 3,345 | 4,363 |
| Bad debt expense | 1,449 | 2,820 | — |
| Non-cash lease expenses | 1,268 | 1,259 | 989 |
| Amortization of intangible assets | 762 | 701 | 820 |
| Amortization of deferred financing costs | 505 | 467 | 1,055 |
| Accretion of asset retirement obligation | 93 | 92 | 81 |
| Loss (gain) on fixed asset disposal | 15 | (17) | 262 |
| Impairment of intangible assets | — | — | 53 |
| Increase (decrease) in cash resulting from changes in: | |||
| Accounts receivable | (12,237) | (5,937) | (10,620) |
| Inventory | (7,838) | (1,794) | (1,406) |
| Prepaid expenses | (283) | (1,371) | (501) |
| Other assets | 1,535 | (333) | 9,982 |
| Accounts payable | 783 | 839 | (159) |
| Accrued compensation | 1,829 | (1,859) | 5,008 |
| Accrued expenses | (1,708) | 2,366 | (20,497) |
| Other liabilities | (497) | 75 | (1,159) |
| Net cash flows provided by (used in) operating activities of continuing operations | 34,937 | (7,972) | (9,874) |
| Net cash flows (used in) provided by operating activities of discontinued operations | (8,162) | (9,921) | 7,892 |
| Net cash flows provided by (used in) operating activities | 26,775 | (17,893) | (1,982) |
| Cash flows from investing activities: | |||
| Purchases of equipment | (1,987) | (1,514) | (3,218) |
| Patent application costs | (168) | (170) | (252) |
| Sales of equipment | — | 24 | — |
| Cash paid for licensing agreement | — | (1,000) | — |
| Principal payments from note receivable | — | — | 75 |
| Net cash flows used in investing activities | (2,155) | (2,660) | (3,395) |
| Cash flows from financing activities: | |||
| Proceeds from exercise of stock options | 997 | 651 | 1,437 |
| Payments under finance lease obligations | (52) | (41) | (38) |
| Repurchase of Series B Preferred Shares | (9,515) | — | — |
| Stock repurchased for tax withholdings on vesting of restricted stock | — | (1,190) | (4,751) |
| Net cash flows used in financing activities | (8,570) | (580) | (3,352) |
| Net change in cash and cash equivalents | 16,050 | (21,133) | (8,729) |
| Cash and cash equivalents, beginning of period | 65,950 | 87,083 | 95,812 |
| Cash and cash equivalents, end of period | $82,000 | $65,950 | $87,083 |
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