mdxg-20211231
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MIMEDX GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
Net sales
Cost of sales
Gross profit
$
Operating expenses:
Selling, general and administrative
Research and development
Investigation, restatement and related
Amortization of intangible assets
Impairment of intangible assets
Operating loss
Other (expense) income
Loss on extinguishment of debt
Interest expense, net
Other (expense) income, net
Loss before income tax provision
Income tax provision (expense) benefit
Year Ended December 31,
2021
2020
258,615 $
248,234 $
43,283
39,330
215,332
208,904
2019
299,255
43,081
256,174
198,359
17,344
3,791
820
53
(5,035)
181,022
11,715
59,465
1,073
1,027
(45,398)
198,205
11,140
66,504
1,039
446
(21,160)
(8,201)
(7,941)
(3)
(61,543)
12,259
(49,284) $
—
(4,708)
283
(25,585)
5
(25,580)
Net loss
$
—
(4,980)
(23)
(10,038)
(247)
(10,285) $
Net loss available to common stockholders (Note 10)
$
(16,421) $
(83,328) $
(25,580)
Net loss per common share - basic
Net loss per common share - diluted
$
$
(0.15) $
(0.15) $
(0.77) $
(0.77) $
(0.24)
(0.24)
Weighted average common shares outstanding - basic
Weighted average common shares outstanding - diluted
110,353,406
110,353,406
108,257,112
108,257,112
106,946,384
106,946,384
See notes to the consolidated financial statements.
F-7
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mdxg-20211231
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MIMEDX GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)
(in thousands, except share data)
Balance at December 31, 2018
Share-based compensation
expense
Exercise of stock options
Issuance of restricted stock
Restricted stock shares
canceled/forfeited
Shares repurchased for tax
withholding
Net loss
Balance at December 31, 2019
Issuance of Series B Convertible
Preferred Stock
Deemed dividends
Share-based compensation
expense
Exercise of stock options
Issuance of restricted stock
Restricted stock shares
canceled/forfeited
Shares repurchased for tax
withholding
Net loss
Balance at December 31, 2020
Deemed dividends
Shares repurchased for tax
withholding
Share-based compensation
expense
Exercise of stock options
Issuance of restricted stock
Restricted stock shares
canceled/forfeited
Other
Net loss
Balance at December 31, 2021
Common Stock
Shares
Amount
112,703,926 $
113
Additional
Paid-in
Capital
$ 164,744
Treasury Stock
Accumulated
Shares
Amount
Deficit
Total
3,605,263 $ (38,642) $
(76,560) $ 49,655
—
—
—
—
—
—
11,689
(1,343)
(37,798)
—
(150,000)
(3,084,875)
—
1,451
37,798
—
—
—
11,689
108
—
—
—
9,939
1,084,971
(9,939)
—
—
—
—
112,703,926
—
—
113
—
—
$ 147,231
429,918
—
1,885,277
(1,474)
—
$ (10,806) $
—
—
—
—
32,954
(32,028)
—
—
—
—
—
—
32,954
(32,028)
—
—
—
—
—
—
15,733
(3,180)
(5,463)
—
(359,328)
(613,146)
—
3,591
5,463
—
—
—
15,733
411
—
—
—
3,363
425,388
(3,363)
—
—
—
—
112,703,926
—
—
113
—
—
$ 158,610
435,492
—
1,773,683
—
—
(926)
—
—
—
(926)
—
—
—
469,239
(4,751)
—
(4,751)
—
—
—
—
—
—
14,757
(1,199)
(4,053)
—
(487,361)
(810,405)
2,636
4,053
—
—
—
14,757
1,437
—
—
—
—
112,703,926
—
—
—
113
515
(2,009)
—
$ 165,695
$
$
$
$
73,056
(239,502)
—
778,710 $
(2,334)
—
(7,449) $
(515)
2,009
—
(4,017) $
—
(1,474)
(25,580)
(25,580)
(102,140) $ 34,398
—
(2,334)
(49,284)
(49,284)
(151,424) $
(150)
—
—
—
—
(10,285)
(10,285)
(161,709) $
82
See notes to the consolidated financial statements.
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Schedule II Valuation and Qualifying Accounts
MIMEDX GROUP, INC. AND SUBSIDIARIES
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS
Years ended December 31, 2021, 2020 and 2019 (in thousands)
Additions
Balance at
charged to
Beginning of
Expense or
Deductions
Balance at
Year
Revenue
and write-offs
End of Year
For the year ended December 31, 2021
Allowance for doubtful accounts
$
737 $
791 $
(341) $
1,187
Allowance for product returns
$
2,321 $
2,508 $
(2,280) $
2,549
For the year ended December 31, 2020
Allowance for doubtful accounts
Allowance for product returns
$
$
—
4,115
$
$
719
705
$
$
18 $
(2,499) $
737
2,321
For the year ended December 31, 2019
Allowance for doubtful accounts
Allowance for product returns
$
$
—
8,510
$
$
—
—
$
$
— $
(4,395) $
—
4,115
F-41
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