Company: MDXG
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001376339-25-000103
Chunk: 7

Company: MIMEDX GROUP, INC.
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 7
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30, 2025 reflects the provisions of the Tax Act. The Tax Act resulted in a current tax benefit resulting from the utilization of deferred tax assets, primarily relating to the utilization of capitalized research and development expenses, and did not affect our effective tax rate in the nine months ended September 30, 2025. 

Discussion of Cash Flows

Operating Activities

Net cash provided by operating activities from continuing operations during the nine months ended September 30, 2025 was $49.0 million, compared to $47.4 million for the nine months ended September 30, 2024. The increase of $1.6 million in cash flows from operating activities was primarily the result of an increase in profitability during the nine months ended September 30, 2025.

Investing Activities

Net cash used for investing activities during the nine months ended September 30, 2025 was $6.6 million, compared to $6.8 million for the nine months ended September 30, 2024. Activity for the nine months ended September 30, 2024 reflects our $5.4 million investment to expand our product portfolio through the TELA and Regenity agreements compared to the $3.8 

22

million in cash paid for acquisitions during the nine months ended September 30, 2025. In addition, cash flows from investing activities for the  nine months ended September 30, 2025 reflects our $2.0 million investment in Vaporox, Inc. in the form of a Convertible Note. The remaining difference reflects a year-over-year decrease in capital expenditures.

Financing Activities

Net cash used for financing activities during the nine months ended September 30, 2025 was $4.8 million. Cash used for financing activities was $33.8 million during the nine months ended September 30, 2024. The cash used during the nine months ended September 30, 2024 was primarily 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 nine months ended September 30, 2025 was primarily related to tax withholdings 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,