Company: MDXG
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001376339-25-000009
Chunk: 45

Company: MIMEDX GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 45
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 expense or benefit, respectively.At December 31, 2024 and 2023, the Company had income tax net operating loss (“NOL”) carryforwards for federal and state purposes of $0.7 million and $64.2 million and $43.5 million and $85.7 million, respectively. A portion of the Company’s NOLs and tax credits are subject to annual limitations due to ownership change limitations provided by Internal Revenue Code Section 382. If not utilized, the federal and state tax NOL carryforwards will expire between 2028 and 2038. As of December 31, 2024, the Company has recorded a deferred tax asset for both federal and state NOL carryforwards of approximately 

F- 35

$0.1 million and $3.6 million, respectively. As of December 31, 2023, the Company has recorded a deferred tax asset for federal and state NOL carryforwards of $9.1 million and $4.6 million, respectively.Unrecognized Tax BenefitsThe following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands) included in the consolidated balance sheets:202420232022Unrecognized tax benefits - January 1$807 $645 $469 Increases - tax positions in current period53 124 98 Increases - tax positions in prior period— 38 78 Decreases in prior year positions(29)— — Unrecognized tax benefits - December 31$831 $807 $645 Included in the balance of unrecognized tax benefits are tax benefits of $0.8 million and $0.8 million as of December 31, 2024 and 2023, respectively, that, if recognized, would affect the effective tax rate. Of these amounts, $0.2 million and $0.1 million, respectively, are recorded as other liabilities in the consolidated balance sheets as of those dates. The remaining balance is reflected as a reduction to the related deferred tax asset.The Company recognizes accrued interest related to unrecognized tax benefits and penalties as income tax expense. Related to the unrecognized tax benefits noted above, the Company accrued no interest during the years ended December 31, 2024 or 2023.The Company is subject to taxation in the U.S. and various state jurisdictions. As of December 31, 2024, the Company’s tax returns for 2020 through 2023 generally