Company: MDXG
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001376339-25-000085
Chunk: 7

Company: MIMEDX GROUP, INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 2
Chunk 7
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 Activities

Net cash provided by operating activities from continuing operations during the six months ended June 30, 2025 was $19.7 million, compared to $27.8 million for the six months ended June 30, 2024. The change was primarily the result of greater expenses during the six months ended June 30, 2025. 

Investing Activities

Net cash used for investing activities during the six months ended June 30, 2025 was $1.3 million, compared to $6.9 million for the six months ended June 30, 2024. Activity for the six months ended June 30, 2024 reflects our $5.0 million investment to expand our product portfolio through the TELA and Regenity agreements compared to the $0.7 million in cash paid for acquisitions during the six months ended June 30, 2025. The remaining difference reflects a year-over-year decrease in capital expenditures.

Financing Activities

Net cash used for financing activities during the six months ended June 30, 2025 was $4.0 million. Cash used by financing activities was $33.8 million during the six months ended June 30, 2024. The cash used during the six months ended June 30, 2024 was due to the repayment of the initial $30.0 million draw under the Revolving Credit Facility. There was no equivalent activity during the same period in 2025. The cash used during the six months ended June 30, 2025 was primarily related to tax witholdings on vestings of restricted stock. 

Liquidity and Capital Resources

We require capital for our operating activities, including costs associated with the sale of product through direct and indirect sales channels, research and development activities, compliance costs, costs to sell and market our products, regulatory fees, and legal and consulting fees in connection with ongoing litigation and other matters. We generally fund our operating capital requirements through our operating activities and cash reserves. We expect to use capital to invest in the broadening of our product portfolio, including through potential acquisitions, licensing agreements or other arrangements, the international expansion of our business and certain capital projects.

As of June 30, 2025, we had $118.9 million of cash and cash equivalents, total current assets of $220.9 million and total current liabilities of $50.3 million, reflecting a current ratio of 4.4. We had $18.5 million of long term debt outstanding