Company: MATV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001000623-25-000024
Chunk: 46

Company: Mativ Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 46
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 net change was primarily due to mix of earnings, impact from a $48.2 million increase to our valuation allowance, and goodwill impairment not deductible for tax purposes, in the current period.

Net Loss and Net Loss per Share

Net loss during the three months ended March 31, 2025 was $425.5 million, or $(7.82) per diluted share, compared to net loss of $28.0 million, or $(0.52) per diluted share, during the prior year period.  

31

LIQUIDITY AND CAPITAL RESOURCES

A major factor in our liquidity and capital resource planning is our generation of cash flow from operations, which is sensitive to changes in the mix of products sold, volume and pricing of our products, as well as changes in our production volumes, costs and working capital. Our liquidity is supplemented by funds available under our Revolving Facility with a syndicate of banks that is used as either operating conditions or strategic opportunities warrant. Market conditions permitting, we may also seek to access the capital markets as we deem appropriate. 

Cash Requirements

As of March 31, 2025, $61.6 million of the Company's $84.0 million of Cash and cash equivalents was held by foreign subsidiaries. Restricted cash of $9.8 million represents primarily retained contributions associated with our UK Pension scheme, the use of which is restricted to obligations related to the scheme. We believe our sources of liquidity and capital, including cash on-hand, cash generated from operations, our Revolving Facility, and our Receivables Sales Agreement (an off-balance sheet arrangement as defined in Item 303(a)(4)(ii) of SEC Regulation S-K), will be sufficient to finance our continued operations, our current and long-term growth plan, and dividend payments. 

Working Capital

As of March 31, 2025, the Company had net operating working capital of $391.0 million, including Cash and cash equivalents of $84.0 million, compared to net operating working capital of $386.2 million, including Cash and cash equivalents of $94.3 million as of December 31, 2024. The increase was attributable primarily to an increase in accounts receivable and a decrease in accrued expenses and other current liabilities, partially offset by a decrease in inventories and an increase in accounts payable. 

Cash Used In Operating Activities

Net cash used in operating activities was $15.9 million during the three months ended March 31, 2025 compared to net