Company: MDXG
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001376339-25-000009
Chunk: 22

Company: MIMEDX GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 22
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807 $21,021 Consignment inventory, included as a component of finished goods in the table above, was $5.1 million and $4.0 million as of December 31, 2024 and 2023, respectively.

5.    Property and Equipment, Net

Property and equipment, net, consists of the following (in thousands): December 31, 20242023Lab and clean room equipment$15,549 $13,954 Furniture and office equipment1,951 1,989 Leasehold improvements8,213 8,141 Construction in progress686 1,791 Asset retirement cost867 938 Finance lease assets— 189 Property and equipment, gross27,266 27,002 Less: accumulated depreciation and amortization(21,322)(20,028)Property and equipment, net of accumulated depreciation and amortization$5,944 $6,974 Depreciation expense for each of the years ended December 31, 2024, 2023, and 2022 was recorded in certain captions of the consolidated statements of operations for those periods in the amounts shown in the table below (in thousands):Year Ended December 31,202420232022Cost of sales$1,408 $1,569 $1,816 Selling, general, and administrative expense544 795 1,243 Research and development expense327 301 286 Total$2,279 $2,665 $3,345 

F- 17

6.     Leases

The Company has leases for corporate offices and manufacturing facilities. None of the Company’s leases require any contingent rental payments, impose any financial restrictions, or contain any residual value guarantees. Supplemental balance sheet information related to the Company’s leases, including the financial statement caption in which the amounts are presented, is as follows (amounts in thousands, except lease term and discount rate):Operating LeasesFinance LeasesDecember 31,December 31,202420232023AssetsRight of use asset$5,606$2,132$—Property and equipment, net——51Total assets$5,606$2,132$51LiabilitiesOther current liabilities$1,307$1,495$53Other liabilities4,7058935Total liabilities$6,012$2,388$58Weighted-average remaining lease term (years)4.32.01.1