Company: MDXG
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001376339-25-000009
Chunk: 21

Company: MIMEDX GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 21
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 amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. Adoption is required for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of this standard on its consolidated financial statements..In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)”, which requires disclosure of specified information about certain costs and expenses. The amendments in ASU 2024-03 are intended to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to the financial statements. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements.ASUs issued and not yet effective as of December 31, 2024, and through the date of this report, were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s current and future financial position or results of operations.

3.    Accounts Receivable, Net

Accounts receivable, net, consists of the following (in thousands): December 31, 20242023Accounts receivable, gross$58,960 $57,015 Allowance for doubtful accounts(3,132)(3,144)Accounts receivable, net$55,828 $53,871 Activity related to the Company’s allowance for doubtful accounts during the year ended December 31, 2024 was as follows (in thousands):Allowance for Doubtful AccountsBalance at December 31, 2022$3,783 Bad debt expense1,449 Write-offs(2,088)Balance at December 31, 2023$3,144 Bad debt expense595 Write-offs(607)Balance at December 31, 2024$3,132 

F- 16

4.    Inventory

Inventory consists of the following (in thousands): December 31, 20242023Raw materials$1,010 $825 Work in process8,580 8,521 Finished goods14,217 11,675 Inventory$23,