Company: MATV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001000623-25-000049
Chunk: 37

Company: Mativ Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 37
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4Change20252024Selling and general expense$57.2 $65.1 $(7.9)(12.1)%10.9 %12.4 %Research and development expense6.7 5.8 0.9 15.5 %1.3 %1.1 %Intangible asset amortization expense15.9 15.7 0.2 1.3 %3.0 %3.0 %Nonmanufacturing expenses$79.8 $86.6 $(6.8)(7.9)%15.2 %16.5 %

Nonmanufacturing expenses of $79.8 million during the three months ended June 30, 2025 decreased $6.8 million, or 7.9%, compared to the prior-year quarter. The decrease is primarily due to lower selling and general expense as a result of actions taken under an organizational realignment initiative ("the Plan"). 

Restructuring and Other Impairment Expense

The following table presents restructuring and other impairment expense for the three months ended June 30, 2025 and 2024 (in millions):

Three Months EndedPercent of Net SalesJune 30, 2025June 30, 2024Change20252024Filtration & Advanced Materials$2.2 $1.3 $0.9 1.1 %0.6 %Sustainable & Adhesive Solutions0.2 10.2 (10.0)0.1 %3.2 %Unallocated expenses1.4 0.3 1.1 Total$3.8 $11.8 $(8.0)0.7 %2.3 %

The Company incurred total restructuring and other impairment expense of $3.8 million and $11.8 million in the three months ended June 30, 2025 and 2024, respectively. 

Restructuring and other impairment expenses in the FAM segment for the three months ended June 30, 2025 and 2024 consisted of severance charges along with costs associated with facility closures announced in prior years.

Restructuring and other impairment expenses in the SAS segment for the three months ended June 30, 2025 consisted of severance charges. Restructuring and other impairment expenses for the three months ended June 30, 2024 included severance charges, along with costs