MiMedx (MDXG) 10-K 26 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 25, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35887
Entity Registrant Name	MIMEDX GROUP, INC.
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	26-2792552
Entity Address, Address Line One	1775 West Oak Commons Court, NE
Entity Address, City or Town	Marietta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30062
City Area Code	770
Local Phone Number	651-9100
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	MDXG
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 803.7
Entity Common Stock, Shares Outstanding		147,366,056
Documents Incorporated by Reference	Documents Incorporated By Reference Portions of the proxy statement relating to the 2025 Annual Meeting of Shareholders, to be filed within 120 days after the end of the fiscal year to which this report relates, are incorporated by reference in Part III of this Report.
Entity Central Index Key	0001376339
Document Fiscal Year Focus	2024
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Atlanta, Georgia

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 104,416	$ 82,000
Accounts receivable, net	55,828	53,871
Inventory	23,807	21,021
Prepaid expenses	5,018	5,624
Other current assets	2,817	1,745
Total current assets	191,886	164,261
Property and equipment, net	5,944	6,974
Right of use assets	5,606	2,132
Deferred tax assets	28,306	40,777
Goodwill	19,441	19,441
Intangible assets, net	11,626	5,257
Other assets	1,106	205
Total assets	263,915	239,047
Current liabilities:
Current portion of long term debt	1,000	1,000
Accounts payable	7,409	9,048
Accrued compensation	23,667	22,353
Accrued expenses	9,012	9,361
Current portion of Profit Share Payments	1,421	0
Current liabilities of discontinued operations	0	1,352
Other current liabilities	3,086	2,894
Total current liabilities	45,595	46,008
Long term debt, net	17,830	48,099
Other liabilities	7,383	2,223
Total liabilities	70,808	96,330
Commitments and contingencies (Note 18)
Stockholders’ equity
Common stock; $.001 par value; 250,000,000 shares authorized, 146,932,032 issued and outstanding at December 31, 2024 and 146,227,639 issued and outstanding at December 31, 2023	147	146
Additional paid-in capital	284,219	276,249
Accumulated deficit	(91,259)	(133,678)
Total stockholders’ equity	193,107	142,717
Total liabilities and stockholders’ equity	$ 263,915	$ 239,047
Common stock, shares authorized (in shares)	250,000,000	250,000,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	146,932,032	146,227,639
Common stock, shares outstanding (in shares)	146,932,032	146,227,639

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net sales	$ 348,879	$ 321,477	$ 267,841
Cost of sales	60,073	54,634	48,316
Gross profit	288,806	266,843	219,525
Operating expenses:
Selling, general and administrative	225,087	211,124	208,673
Research and development	12,341	12,665	12,701
Investigation, restatement and related	(8,698)	5,176	12,177
Amortization of intangible assets	765	762	701
Impairment of intangible assets	446	0	0
Operating income (loss)	58,865	37,116	(14,727)
Other expense, net
Interest expense, net	(1,006)	(6,457)	(5,016)
Other expense, net	(565)	(26)	(4)
Income (loss) from continuing operations before income tax provision	57,294	30,633	(19,747)
Income tax provision (expense) benefit from continuing operations	(15,296)	36,806	(206)
Net income (loss) from continuing operations	41,998	67,439	(19,953)
Income (loss) from discontinued operations, net of tax	421	(9,211)	(10,244)
Net income (loss)	42,419	58,228	(30,197)
Net income (loss) available to common stockholders from continuing operations	$ 41,998	$ 55,796	$ (26,533)
Basic net income (loss) per common share:
Continuing operations - basic (in dollars per share)	$ 0.29	$ 0.48	$ (0.24)
Discontinued operations - basic (in dollars per share)	0	(0.08)	(0.09)
Basic net income (loss) per common share (in dollars per share)	0.29	0.40	(0.33)
Diluted net income (loss) per common share:
Continuing operations (in dollars per share)	0.28	0.43	(0.24)
Discontinued operations (in dollars per share)	0	(0.06)	(0.09)
Diluted net income (loss) per common share (in dollars per share)	$ 0.28	$ 0.37	$ (0.33)
Weighted average shares outstanding - basic (in shares)	146,979,354	116,495,810	112,909,266
Weighted average shares outstanding - diluted (in shares)	149,049,197	145,962,462	112,909,266

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income (loss) from continuing operations	$ 41,998	$ 67,439	$ (19,953)
Adjustments to reconcile net income (loss) from continuing operations to net cash flows provided by (used in) operating activities of continuing operations:
Share-based compensation	16,933	16,959	11,328
Deferred income tax provision	12,472	(37,802)	0
Shares received in settlement of litigation	(9,300)	0	0
Amortization of intangible assets	3,762	762	701
Depreciation	2,279	2,665	3,345
Loss on extinguishment of debt	1,401	0	0
Non-cash lease expenses	1,310	1,268	1,259
Credit loss expense	595	1,449	2,820
Other	1,112	613	542
Increase (decrease) in cash resulting from changes in:
Accounts receivable	(2,552)	(12,237)	(5,937)
Inventory	(2,357)	(7,838)	(1,794)
Prepaid expenses	606	(283)	(1,371)
Other assets	(958)	1,535	(333)
Accounts payable	(1,410)	783	839
Accrued compensation	2,896	1,829	(1,859)
Accrued expenses	(789)	(1,708)	2,366
Other liabilities	(870)	(497)	75
Net cash flows provided by (used in) operating activities of continuing operations	67,128	34,937	(7,972)
Net cash flows used in operating activities of discontinued operations	(930)	(8,162)	(9,921)
Net cash flows provided by (used in) operating activities	66,198	26,775	(17,893)
Cash flows from investing activities:
Purchases of equipment	(1,683)	(1,987)	(1,514)
Cash paid for acquisitions	(7,862)	0	0
Other	(38)	(168)	(1,146)
Net cash flows used in investing activities	(9,583)	(2,155)	(2,660)
Cash flows from financing activities:
Proceeds from Citizens Revolving Credit Facility	30,000	0	0
Proceeds from Citizens Term Loan Facility	19,783	0	0
Prepayment premium on Hayfin term loan	(500)	0	0
Deferred financing cost	(1,101)	0	0
Repayment of Hayfin term loan	(50,000)	0	0
Repayment of Citizens Revolving Credit Facility	(30,000)	0	0
Principal payments on Citizens Term Loan Facility	(1,000)	0	0
Proceeds from exercise of stock options	1,397	997	651
Stock repurchased for tax withholdings on vesting of restricted stock	(2,641)	0	(1,190)
Repurchase of Series B Preferred Shares	0	(9,515)	0
Other	(137)	(52)	(41)
Net cash flows used in financing activities	(34,199)	(8,570)	(580)
Net change in cash	22,416	16,050	(21,133)
Cash and cash equivalents, beginning of period	82,000	65,950	87,083
Cash and cash equivalents, end of period	$ 104,416	$ 82,000	$ 65,950

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit
Balance beginning of period (in shares) at Dec. 31, 2021		112,703,926
Balance, beginning of period at Dec. 31, 2021	$ 82	$ 113	$ 165,695	$ (4,017)	$ (161,709)
Treasury stock, beginning balance (in shares) at Dec. 31, 2021				778,710
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	12,666		12,666
Exercise of stock options (in shares)		160,762		(151,239)
Exercise of stock options	651		(618)	$ 1,269
Issuance of restricted stock (in shares)		840,759
Issuance of restricted stock	0	$ 1	(3,969)	$ 3,968
Issuance of restricted stock (in shares)				(882,251)
Restricted stock shares canceled/forfeited	$ 0		30	$ (30)
Restricted stock shares canceled/forfeited (in shares)				5,338
Shares repurchased for tax withholding (in shares)	249,442			249,442
Shares repurchased for tax withholding	$ (1,190)			$ (1,190)
Net income (loss)	(30,197)				(30,197)
Employee stock purchase plan	0
Balance end of period (in shares) at Dec. 31, 2022		113,705,447
Balance, end of period at Dec. 31, 2022	(17,988)	$ 114	173,804	$ 0	(191,906)
Treasury stock, ending balance (in shares) at Dec. 31, 2022				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	17,178		17,178
Exercise of stock options (in shares)		130,129		(17,032)
Exercise of stock options	997		885	$ 112
Issuance of restricted stock (in shares)		2,185,604
Issuance of restricted stock	0	$ 2	(268)	$ 266
Issuance of restricted stock (in shares)				(73,335)
Restricted stock shares canceled/forfeited	$ 0		378	$ (378)
Restricted stock shares canceled/forfeited (in shares)				90,367
Shares repurchased for tax withholding (in shares)	0
Shares repurchased for tax withholding	$ 0
Net income (loss)	58,228				58,228
Employee stock purchase plan (in shares)		444,809
Employee stock purchase plan	1,367		1,367
Repurchase of Series B Preferred Stock	(4,935)		(4,935)
Conversion of Series B preferred shares (in shares)		29,761,650
Conversion of Series B Preferred Stock	$ 87,870	$ 30	87,840
Balance end of period (in shares) at Dec. 31, 2023	146,227,639	146,227,639
Balance, end of period at Dec. 31, 2023	$ 142,717	$ 146	276,249	$ 0	(133,678)
Treasury stock, ending balance (in shares) at Dec. 31, 2023				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	$ 16,933		16,933
Exercise of stock options (in shares)	207,686	207,686
Exercise of stock options	$ 1,397		1,397
Issuance of restricted stock (in shares)		1,451,067
Issuance of restricted stock	$ (2,641)	$ 2	(2,643)
Shares repurchased for tax withholding (in shares)	354,263
Shares repurchased for tax withholding	$ (2,600)
Net income (loss)	42,419				42,419
Employee stock purchase plan (in shares)		245,640
Employee stock purchase plan	1,582		1,582
Shares received in settlement of litigation (in share)		(1,200,000)
Shares received in settlement of litigation	$ (9,300)	$ (1)	(9,299)
Balance end of period (in shares) at Dec. 31, 2024	146,932,032	146,932,032
Balance, end of period at Dec. 31, 2024	$ 193,107	$ 147	$ 284,219	$ 0	$ (91,259)
Treasury stock, ending balance (in shares) at Dec. 31, 2024				0

Nature of Business

Nature of Business	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business MiMedx Group, Inc. (together with its subsidiaries, except where the context otherwise requires, “ MIMEDX ,” or the “ Company ”) is a pioneer and leader in placental biologics focused on helping humans heal. With more than a decade of helping clinicians manage chronic and other hard-to-heal wounds, MIMEDX is dedicated to providing a leading portfolio of products for applications in the wound care, burn, and surgical sectors of healthcare. The Company’s vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life. All of our products sold in the United States are regulated by the United States Food and Drug Administration (“ FDA ”). The Company’s product portfolio and product development focuses on Wound and Surgical markets. The Company’s business is focused primarily on the United States of America but the Company also has a small commercial presence in several international locations, including Japan.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of MiMedx Group, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation. Reclassifications Current portion of long term debt of $1.0 million as of December 31, 2023, which was presented in other current liabilities in previously-issued financial statements, has been reclassified to be presented in a separate line item, still within current liabilities, in these consolidated financial statements to conform to current year presentation. Use of Estimates The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“ GAAP ”). GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported consolidated statements of operations during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates of useful lives of property and equipment and intangible assets, impairment of property and equipment, goodwill and intangible assets, estimates of loss for contingent liabilities, estimate of allowance for doubtful accounts, estimate of fair value of and the probable achievement of performance conditions associated with share-based payment awards, estimates of returns and allowances, estimate of fair value of Profit Share Payments (as defined below), and valuation of deferred tax assets. Segment Reporting The application of GAAP requires the use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s chief operating decision maker (“ CODM ”) organizes segments within the Company for which separate financial information is available regarding resource allocation and assessing performance. The Company has concluded that its Chief Executive Officer (“ CEO ”) is its CODM. The Company reassesses the existence of operating segments when facts and circumstances suggest that there may have been a change in the way that the Company is managed. The Company assessed that the CODM assesses performance and resources as one reportable segment. Refer to Note 13, Segment Information, for further discussion. Cash and Cash Equivalents Cash and cash equivalents include cash held at various banks. The Company considers all highly-liquid investments purchased with an original maturity of three months or less at the date of purchase and money market mutual funds to be cash equivalents. Market Concentrations and Credit Risk The Company places its cash and cash equivalents on deposit with U.S.-based financial institutions. The U.S. Federal Deposit Insurance Corporation (“ FDIC ”) provides insurance coverage for deposits up to $250,000 for substantially all depository accounts. As of December 31, 2024 and 2023, the Company had cash and cash equivalents of approximately $103.7 million and $81.3 million, respectively, in excess of the insured amounts in three depository institutions. Accounts Receivable Accounts receivable represent amounts due from customers for which revenue has been recognized. Generally, the Company does not require collateral or any other security to support its receivables. Accounts receivable is presented net of the Company’s allowance for doubtful accounts. The allowance for credit losses is calculated based on the Company’s current expectations for credit losses, which is generally informed by historical trends. The Company’s policy to reserve for potential bad debts based on the age of the individual receivable and the character of the customer, as well as customer-specific qualitative factors, such as bankruptcy proceedings. The Company manages credit risk by routinely performing credit checks on customers prior to sales. Individual receivables are written-off after all reasonable efforts to collect the funds have been made. Actual write-offs may differ from the amounts reserved. Inventory Inventory is valued at the lower of cost or net realizable value. Costs of inventory sold are recognized using the first–in, first-out (“ FIFO ”) method. Inventory is tracked through raw material, work-in-process, and finished goods stages as the product progresses through various production steps and stocking locations. Labor and overhead costs are absorbed through the various production processes up to when the work order closes. Historical yields and normal capacities are utilized in the calculation of production overhead rates. Inventory is written down to the lower of cost or net realizable value to reflect slow-moving inventory as well as inventory no longer needed due to diminished demand or regulatory action. Property and Equipment Property and equipment are recorded at cost and depreciated on a straight-line method over their estimated useful lives, principally three Asset Retirement Obligations The Company records obligations associated with the legal requirement to retire long-lived assets when an estimate for the cost of retirement can reasonably be made. The Company reviews legal obligations associated with the retirement of long-lived assets that result from contractual obligations or the acquisition, construction, development and/or normal use of the assets. If it is determined that a legal obligation exists, regardless of whether the obligation is conditional on a future event, the fair value of the liability for an asset retirement obligation is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The fair value is calculated as the estimate of the expected cash outflow to satisfy the legal obligation discounted to present value using the Company’s then-prevailing incremental borrowing rate. At such point in time, an asset and liability are recorded for the amount of the expected liability. The asset amount is depreciated, straight-line, over the life of the underlying asset, while the liability is accreted to the amount of the expected outflow through selling, general and administrative expense using the effective interest method. Subsequent revisions to estimates for future cash flows related to the asset retirement obligations are recorded as equal increases or decreases to the retirement asset and liability. Intangible Assets, Net Intangible assets are assets which lack physical substance and (a) grant the Company with a legal right or (b) are capable of being separated and sold. Intangible assets acquired outside of a business combination are capitalized based on the cost to acquire the assets, allocated pro rata based on the fair value of the individual assets acquired. Any contingent consideration issued in connection with the acquisition of assets is capitalized at the time at which all contingencies regarding its payment are resolved. The Company amortizes the capitalized cost of finite-lived intangible assets over a period generally reflective of the anticipated contributions to cash flow generation. Amortization of intangible assets is recorded as part of cost of sales or operating expenses in the consolidated statements of operations depending on the nature of the underlying intangible asset and its use in the Company’s operations. Impairment of Long-lived Assets The Company evaluates the recoverability of its long-lived assets (property, equipment, right of use, and intangible assets with finite lives) whenever adverse events or changes in business climate indicate that the expected undiscounted future cash flows from the related assets may be less than their carrying amounts. When a situation arises which results in a conclusion that it is more likely than not that an asset is not recoverable, the Company estimates cash flows expected to be derived from the continuing use and eventual disposition of the asset. If the sum of those undiscounted cash flows does not exceed the net book value of the asset, the Company estimates the fair value of the asset. Impairment loss is recorded to the extent that the net book value exceeds the fair value of the asset. Impairment reviews are based on an estimated future cash flow approach that requires significant judgment with respect to future revenue and expense growth rates, selection of appropriate discount rate (as applicable), asset groupings, and other assumptions and estimates. The Company uses estimates that are consistent with its business plans and a market participant view of the assets being evaluated. Actual results may differ from these estimates. Goodwill and Indefinite-lived Intangible Assets The Company assesses goodwill for impairment at least annually on October 1 and more frequently whenever events or substantive changes in circumstances indicate that it is more likely than not that goodwill is impaired. In performing the goodwill impairment test, the Company first assesses qualitative factors to determine the existence of impairment. If the qualitative factors indicate that the carrying value of a reporting unit exceeds its fair value, the Company proceeds to a quantitative test to measure the existence and amount, if any, of goodwill impairment. The Company may also choose to bypass the qualitative assessment and proceed directly to the quantitative test. In performing the quantitative test, impairment loss is recorded to the extent that the carrying value of the reporting unit exceeds its assessed fair value. The Company determines the fair value of reporting units using the income and market approaches, as applicable. Under the income approach, the fair value of a reporting unit is the present value of its future cash flows as viewed from the lens of a hypothetical market participant in an orderly transaction. These future cash flows are derived from expectations of revenue, expenses, tax deductions and credits, working capital flows, capital expenditures, and other projected sources and uses of cash, as applicable. Value indications are developed by discounting expected cash flows to their present value using a discount rate commensurate with the risks associated with the reporting unit subject to testing. Under the market approach, the Company uses market multiples derived from various comparable companies based on measures salient to investors in those companies. Impairment loss is recorded to the extent the carrying value of a reporting unit exceeds the fair value. No impairment loss is recognized if the fair value of the reporting unit exceeds the carrying value. Patent Costs The Company incurs certain legal and related costs in connection with patent applications. The Company capitalizes such costs to be amortized over the expected life of the patent to the extent that an economic benefit is anticipated from the resulting patent or an alternative future use is available to the Company. The Company capitalized $0.0 million, $0.2 million, and $0.2 million of patent costs for the years ended December 31, 2024, 2023, and 2022, respectively. Leases The Company determines if a contract is, or contains, a lease at inception. Leases provide the Company with the right to control an underlying asset for a contractual term, subject to certain renewal and other rights, in exchange for a series of stipulated cash flows. Right of use (“ ROU ”) assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company calculates the present value of lease payments by discounting the lease payments using the Company’s incremental borrowing rate for a collateralized or secured borrowing over a term equivalent to that of the lease. Lease payments that vary according to an index or rate are measured using the index or rate at lease inception. The lease term and applicable payments include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. This determination is reassessed as new information arises and is accounted for prospectively. As an accounting policy election, the Company does not capitalize leases having initial terms of 12 months or fewer. The Company has made an accounting policy election not to separate lease components from non-lease components in the event that the agreement contains both. Modifications to existing leases are recognized on the modification date. In such cases, the lease liability is remeasured based on the estimated present value of lease payments from the modification date. The difference between the lease liability immediately before and immediately after lease modification is reflected as an equal and offsetting adjustment to the associated ROU asset. Operating lease right of use assets and the related liabilities are included in right of use asset, other current liabilities, and other liabilities, respectively, in the consolidated balance sheets. Lease expense associated with operating leases is recognized, straight-line, over the lease term. The Company does not recognize interest expense from operating lease liabilities. Finance lease right of use assets and the related liabilities are included in property and equipment, net, other current liabilities, and other liabilities, respectively, in the consolidated balance sheets. Finance lease right of use assets are amortized, straight-line, over the lease term as depreciation expense. Interest expense is recognized using the effective interest method on finance lease liabilities as part of interest expense, net. Treasury Stock Except for shares retired by the Company upon repurchase, shares repurchased by the Company are recorded as treasury stock at the cost to acquire such shares. Subsequent issuances of shares held in treasury are assumed to be released on a FIFO basis. During 2024, all shares repurchased were retired. Contingencies The Company is or has been subject to various patent challenges, product liability claims, government investigations, former employee matters, and other legal proceedings. See Note 18, Commitments and Contingencies , for discussion of material matters. Legal fees and other expenses related to litigation are expensed as incurred and included in selling, general and administrative expenses or investigation, restatement and related expenses in the consolidated statements of operations, depending on the nature of the matter. The Company records an accrual for resolution costs and other contingencies in the consolidated financial statements when the Company determines that a loss is both probable and reasonably estimable. Subsequent revisions to the Company’s accrual are made as new information emerges and are accounted for prospectively. The Company discloses all ongoing legal matters for which a loss is reasonably possible, regardless of whether an estimate can be reasonably determined. Due to the fact that legal proceedings and other contingencies are inherently unpredictable, the Company’s estimates of the probability and amount of any such liabilities involve significant judgment regarding future events. The actual costs of resolving a claim may be substantially different from the amount of reserve the Company recorded. The Company records a receivable from its insurance carriers only when the resolution of any dispute has been reached and realization of the amounts equal to the potential claim for recovery is considered probable. Any recovery of an amount in excess of the related recorded contingent loss will be recognized only when all contingencies relating to recovery have been resolved. Revenue Recognition The Company sells its products primarily to individual customers and independent distributors (collectively referred to as “ customers ”). Customers obtain and use products either through ship and bill sales or consignment arrangements. Under ship and bill arrangements, the Company retains possession of the product until the customer submits an order. Upon approval of the sales order, the Company ships product to the customer and invoices them for the product sold. Under consignment arrangements, the customer takes possession of the product, but the Company retains title until the implantation or application of the Company’s product to the end user. The Company recognizes revenue as performance obligations are fulfilled, which generally occurs upon the shipment of product to the customers for ship and bill orders or upon implantation for consignment sales. Revenue is recognized based on the consideration the Company expects to receive from the sale. This consists of the gross selling price of the product, less any discounts, rebates or other amounts paid to customers, fees paid to Group Purchasing Organizations (“ GPOs ”), and returns (collectively, “ deductions ” or “ sales deductions ”). Gross selling price is a standard set by the Company for all customers unless a contract governing the sale provides for a specified price. Sales deductions are specified in individual contracts with customers. The Company estimates the total sales deductions which a specific customer will achieve over the relevant term and applies the reduction to sales as they are made throughout the period. Sales deductions owed to customers and other parties are accrued and recorded in accrued expenses on the consolidated balance sheets. The Company acts as the principal in all of its customer arrangements and records revenue on a gross basis. Shipping is considered immaterial in the context of the overall customer arrangement, and damages or loss of goods in transit are rare. Therefore, shipping is not deemed a separately recognized performance obligation and the Company has elected to treat shipping costs as activities to fulfill the promise to transfer the product. The Company maintains a returns policy that allows its customers to return product that is damaged or non-conforming, ordered in error, or due to a recall. The estimate of the provision for returns is based upon historical experience with actual returns. The Company’s payment terms for customers are typically 30 to 60 days from receipt of title of the goods. Cost of Sales Cost of sales includes all costs directly related to bringing the Company’s products to their final selling destination. Amounts include direct and indirect costs to manufacture products including raw materials, personnel costs and direct overhead expenses necessary to convert collected tissues into finished goods, costs to acquire product from third-party manufacturers, product testing costs, quality assurance costs, facility costs associated with the Company’s manufacturing and warehouse facilities, including depreciation, freight charges, costs to operate equipment and other shipping and handling costs for products shipped to customers. The Company obtains raw material in the form of human placenta donations from participating mothers who give birth via scheduled Caesarean section. Research and Development Costs Research and development costs consist of direct and indirect costs associated with the development of the Company’s technologies. Historically, these expenses largely represented costs associated with our clinical trials, but now largely represent costs associated with new product development and pilot production. These costs are expensed as incurred. Advertising expense Advertising expense consists primarily of print media promotional materials. Advertising costs are expensed as incurred. Advertising expense for the year ended December 31, 2024, 2023, and 2022 was $0.6 million, $0.6 million, and $0.2 million respectively. Income Taxes Income tax provision, deferred tax assets and liabilities, and liabilities for unrecognized tax benefits reflect management’s best assessment of estimated current and future taxes to be paid. The Company is subject to income taxes in the United States and numerous states. Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. The Company recognizes deferred tax assets to the extent that it believes these assets are more likely than not to be realized. The Company evaluates the realizability of its deferred tax assets quarterly. In evaluating the Company’s ability to recover its deferred tax assets within the jurisdiction from which they arise, management considers all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax-planning strategies, results of recent operations, and changes in tax laws. In projecting future taxable income, the Company begins with historical results and incorporates assumptions about the amount of future state and federal pretax operating income adjusted for items that do not have tax consequences. The assumptions about future taxable income require significant judgment and are consistent with the plans and estimates the Company uses to manage the underlying business. In evaluating the objective evidence that historical results provide, management considers three years of cumulative income (loss) exclusive of items that will not recur, such as discontinued operations. The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the tax provision (benefit) in the period that includes the enactment date. The calculation of income tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations both for U.S. federal income tax purposes and across numerous state jurisdictions. Accounting Standards Codification (“ ASC ”) Topic 740, Income Taxes , states that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of the technical merits. The Company records unrecognized tax benefits within other current liabilities on the consolidated balance sheets and adjusts these liabilities when management’s judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from management’s current estimate of the unrecognized tax benefit liabilities. These differences will be reflected as increases or decreases to the deferred tax asset or income tax expense in the period in which new information is available. The Company records uncertain tax positions on the basis of a two-step process whereby (1) it determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (2) for those tax positions that meet the more-likely-than-not recognition threshold, it recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the consolidated statements of operations. Accrued interest and penalties, if any, are included within the other liabilities line in the consolidated balance sheets and recorded as a component of income tax expense. Share-based Compensation The Company grants share-based awards to employees and members of the Company’s Board of Directors (the “ Board ”). Awards to employees and the Board are generally made annually. Grants are issued outside of the annual cadence for certain new hires, promotions, and other events. The Company has two share-based compensation plans which provide for the granting of equity awards, including qualified incentive and non-qualified stock options and restricted stock awards. The Company has three types of awards to employees and directors: restricted stock units (“ RSUs ’), performance stock units (“ PSUs ”), and stock options. The amount of expense to be recognized is determined by the fair value of the award using inputs available as of the grant date. The basis of fair value for RSUs and PSUs is the closing stock price on the date of the grant. The fair value of stock options is determined based on an appropriate option pricing model using inputs available as of the grant date, generally using a Black-Scholes model. In each case, the fair value is adjusted for the presence of a market condition using an appropriate pricing model. For awards with service-based vesting conditions only, the Company recognizes the grant date fair value as share-based compensation expense on a straight-line basis through the vesting date of the last tranche of the award. For awards which are subject to a condition other than a service condition, the Company recognizes stock-based compensation expense using the graded-vesting method, treating each tranche as if it were a separately-granted award and recognizing expense through the vesting date of each individual tranche. In each case, the Company recognizes share-based compensation expense to the extent that vesting is “probable”. The Company recognizes the cumulative effect of changes in the probability outcomes in the period in which the changes occur. The resolution of a market condition is not subsequently considered in expense recognition. Consequently, the Company could recognize expense for awards that do not ultimately vest. Basic and Diluted Net Income (Loss) per Common Share Basic net income (loss) per common share is calculated as net income (loss) from continuing operations available to common stockholders divided by weighted average common shares outstanding for the applicable period. Net income (loss) from continuing operations available to common stockholders is calculated by adjusting net income (loss) for dividends on the Company’s historical Series B Convertible Preferred Stock (“ Series B Preferred Stock ”), which fully converted during 2023. This amount is divided by the weighted average common shares outstanding during the period. Weighted average common shares outstanding is calculated as shares of the Company outstanding adjusted for the portion of the period for which they are outstanding. Unvested non-option share awards are excluded from the calculation of weighted average common shares outstanding until they have vested. Unexercised stock options are excluded from the calculation of weighted average common shares outstanding until they are exercised. Shares issuable pursuant to the Company’s Employee Stock Purchase Plan (“ ESPP ”) are included for the minimum number of shares issuable beginning at the point in time that all contingencies for share issuance are resolved. Diluted net income (loss) per common share adjusts basic net income (loss) per common share for convertible securities, options, equity incentive awards, and other share-based payment awards which have yet to vest and vest only upon the satisfaction of a service condition. Equity incentive awards and options that are subject to a performance or market condition are included only if the performance or market condition would be satisfied if the end of the applicable period were the end of the performance period. In any case, these adjustments are reflected in the calculation of diluted net income (loss) per common share to the extent that they reduce basic net income (loss) from continuing operations per common share. Basic and diluted net income (loss) per common share from discontinued operations are evaluated using the same denominator as basic and diluted net income (loss) per common share from continued operations even if the dilutive adjustments are antidilutive to that calculation. The Company used the if-converted method to calculate the dilutive effect of the Series B Preferred Stock. The if-converted method assumes that convertible securities are converted at the later of the issuance date and the beginning of the period. If the hypothetical conversion of convertible securities, and the consequential avoidance of any accumulated preferred dividends, would decrease basic net income (loss) from continuing operations per common share, these effects are incorporated in the calculation of diluted net income (loss) from continuing operations per common share, adjusted for the portion of the period the securities were outstanding. The Company uses the treasury stock method to calculate the dilutive effect of options, non-option share awards, and certain other share-based payments. The treasury stock method assumes that the proceeds from exercise are used to repurchase common shares at the weighted average market price during the period, increasing the denominator for the net effect of shares issued upon exercise less hypothetical shares repurchased. Shares issuable pursuant to the ESPP are included in the calculation of diluted net loss per common share to the extent that such shares would be issued based on the share price at the conclusion of the period, excluding the shares already reflected in the calculation of weighted average common shares outstanding. Fair Value of Financial Instruments and Fair Value Measurements The respective carrying value of certain on-balance sheet financial instruments approximated their fair values due to the short-term nature and type of these instruments. These financial instruments include cash and cash equivalents, accounts receivable, notes receivable, and certain other financial assets and liabilities. The Company measures certain non-financial assets at fair value on a non-recurring basis. These non-recurring valuations include evaluating assets such as long-lived assets, and non-amortizing intangible assets for impairment, allocating value to assets in an acquired asset group, and accounting for business combinations. The Company uses the fair value measurement framework to value these assets and reports these fair values in the periods in which they are recorded or written down. Fair value financial instruments are recorded in accordance with the fair value measurement framework. The fair value measurement framework includes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair values in their broad levels. These levels from highest to lowest priority are as follows: • Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: Quoted prices in active markets for similar assets or liabilities or observable prices that are based on inputs not quoted on active markets, but corroborated by market data. • Level 3: Unobservable inputs or valuation techniques that are used when little or no market data is available. The determination of fair value and the assessment of a measurement’s placement within the hierarchy require judgment. Level 3 valuations often involve a higher degree of judgment and complexity. Level 3 valuations may require the use of various valuation methodologies which incorporate unobservable inputs, management estimates, and assumptions. Management’s assumptions could vary depending on the asset or liability valued and the valuation method used. Such assumptions could include: estimates of prices, earnings, costs, actions of market participants, market factors, or the weighting of various valuation methods. The Company may also engage external advisors to assist it in determining fair value, as appropriate. Although the Company believes that the recorded fair value of its financial instruments is appropriate, these fair values may not be indicative of net realizable value or reflec

Accounts Receivable, Net

Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable, net, consists of the following (in thousands): December 31, 2024 2023 Accounts receivable, gross $ 58,960 $ 57,015 Allowance for doubtful accounts (3,132) (3,144) Accounts receivable, net $ 55,828 $ 53,871 Activity related to the Company’s allowance for doubtful accounts during the year ended December 31, 2024 was as follows (in thousands): Allowance for Doubtful Accounts Balance at December 31, 2022 $ 3,783 Bad debt expense 1,449 Write-offs (2,088) Balance at December 31, 2023 $ 3,144 Bad debt expense 595 Write-offs (607) Balance at December 31, 2024 $ 3,132

Inventory

Inventory	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consists of the following (in thousands): December 31, 2024 2023 Raw materials $ 1,010 $ 825 Work in process 8,580 8,521 Finished goods 14,217 11,675 Inventory $ 23,807 $ 21,021 Consignment inventory, included as a component of finished goods in the table above, was $5.1 million and $4.0 million as of December 31, 2024 and 2023, respectively.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net, consists of the following (in thousands): December 31, 2024 2023 Lab and clean room equipment $ 15,549 $ 13,954 Furniture and office equipment 1,951 1,989 Leasehold improvements 8,213 8,141 Construction in progress 686 1,791 Asset retirement cost 867 938 Finance lease assets — 189 Property and equipment, gross 27,266 27,002 Less: accumulated depreciation and amortization (21,322) (20,028) Property and equipment, net of accumulated depreciation and amortization $ 5,944 $ 6,974 Depreciation expense for each of the years ended December 31, 2024, 2023, and 2022 was recorded in certain captions of the consolidated statements of operations for those periods in the amounts shown in the table below (in thousands): Year Ended December 31, 2024 2023 2022 Cost of sales $ 1,408 $ 1,569 $ 1,816 Selling, general, and administrative expense 544 795 1,243 Research and development expense 327 301 286 Total $ 2,279 $ 2,665 $ 3,345

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases The Company has leases for corporate offices and manufacturing facilities. None of the Company’s leases require any contingent rental payments, impose any financial restrictions, or contain any residual value guarantees. Supplemental balance sheet information related to the Company’s leases, including the financial statement caption in which the amounts are presented, is as follows (amounts in thousands, except lease term and discount rate): Operating Leases Finance Leases December 31, December 31, 2024 2023 2023 Assets Right of use asset $ 5,606 $ 2,132 $ — Property and equipment, net — — 51 Total assets $ 5,606 $ 2,132 $ 51 Liabilities Other current liabilities $ 1,307 $ 1,495 $ 53 Other liabilities 4,705 893 5 Total liabilities $ 6,012 $ 2,388 $ 58 Weighted-average remaining lease term (years) 4.3 2.0 1.1 Weighted-average discount rate 6.9 % 8.3 % 8.3 % The Company had no finance lease obligations or associated right of use assets outstanding as of December 31, 2024. Information related to lease costs are as follows (amounts in thousands): Year Ended December 31, 2024 2023 2022 Operating lease cost $ 1,478 $ 1,532 $ 1,620 Amortization of finance lease ROU assets 51 47 47 Interest expense on finance lease liabilities 2 7 10 Maturities of lease liabilities are as follows (amounts in thousands): Year Ending December 31, Operating Leases 2025 $ 1,671 2026 1,725 2027 1,355 2028 1,346 2029 794 Thereafter — Total lease payments 6,891 Less: imputed interest (879) Lease liability $ 6,012 Asset Retirement Obligations Certain lease agreements require the Company to return designated areas of leased space to its original condition upon termination of the lease agreement, for which the Company records an asset retirement obligation and a corresponding capital asset in an amount equal to the estimated fair value of the obligation. In subsequent periods, the asset retirement obligation is accreted for the change in its present value and the capitalized asset is depreciated, both over the term of the associated lease agreement. Asset retirement obligations of $1.2 million are included in other liabilities in the consolidated balance sheets as of both December 31, 2024 and 2023.
Leases	Leases The Company has leases for corporate offices and manufacturing facilities. None of the Company’s leases require any contingent rental payments, impose any financial restrictions, or contain any residual value guarantees. Supplemental balance sheet information related to the Company’s leases, including the financial statement caption in which the amounts are presented, is as follows (amounts in thousands, except lease term and discount rate): Operating Leases Finance Leases December 31, December 31, 2024 2023 2023 Assets Right of use asset $ 5,606 $ 2,132 $ — Property and equipment, net — — 51 Total assets $ 5,606 $ 2,132 $ 51 Liabilities Other current liabilities $ 1,307 $ 1,495 $ 53 Other liabilities 4,705 893 5 Total liabilities $ 6,012 $ 2,388 $ 58 Weighted-average remaining lease term (years) 4.3 2.0 1.1 Weighted-average discount rate 6.9 % 8.3 % 8.3 % The Company had no finance lease obligations or associated right of use assets outstanding as of December 31, 2024. Information related to lease costs are as follows (amounts in thousands): Year Ended December 31, 2024 2023 2022 Operating lease cost $ 1,478 $ 1,532 $ 1,620 Amortization of finance lease ROU assets 51 47 47 Interest expense on finance lease liabilities 2 7 10 Maturities of lease liabilities are as follows (amounts in thousands): Year Ending December 31, Operating Leases 2025 $ 1,671 2026 1,725 2027 1,355 2028 1,346 2029 794 Thereafter — Total lease payments 6,891 Less: imputed interest (879) Lease liability $ 6,012 Asset Retirement Obligations Certain lease agreements require the Company to return designated areas of leased space to its original condition upon termination of the lease agreement, for which the Company records an asset retirement obligation and a corresponding capital asset in an amount equal to the estimated fair value of the obligation. In subsequent periods, the asset retirement obligation is accreted for the change in its present value and the capitalized asset is depreciated, both over the term of the associated lease agreement. Asset retirement obligations of $1.2 million are included in other liabilities in the consolidated balance sheets as of both December 31, 2024 and 2023.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Goodwill In concert with the disbanding of its Regenerative Medicine business unit during the fourth quarter of 2023, management concluded that the Company operated as a single operating segment beginning at that time. This operating segment reflected its sole reporting unit for goodwill impairment testing purposes. For the annual impairment test performed on October 1, 2024, the Company performed a qualitative assessment to determine the existence of impairment. The qualitative assessment concluded that it was more likely than not that goodwill was not impaired and the Company did not proceed to the quantitative assessment. There was no impairment of goodwill in 2023 or 2022. The following table indicates the changes in the carrying amount of goodwill for 2024 and 2023 (in thousands): Goodwill Balance as of January 1, 2023 $ 19,441 Activity — Balance as of December 31, 2023 $ 19,441 Activity — Balance as of December 31, 2024 $ 19,441 Intangible Assets, Net Intangible assets, net, are summarized as follows (in thousands): December 31, 2024 December 31, 2023 Gross Carrying Amount Accumulated amortization Net Carrying Amount Gross Carrying Amount Accumulated amortization Net Carrying Amount Amortized intangible assets Patents and know-how $ 10,320 $ (8,488) $ 1,832 $ 10,039 $ (7,818) $ 2,221 Customer and supplier relationships 7,659 (1,147) 6,512 — — — Tradenames and trademarks 2,937 (1,850) 1,087 — — — Licenses 1,000 (104) 896 1,000 (54) 946 Total amortized intangible assets $ 21,916 $ (11,589) $ 10,327 $ 11,039 $ (7,872) $ 3,167 Unamortized intangible assets Tradenames and trademarks $ 1,008 $ 1,008 $ 1,008 $ 1,008 Patents in process 291 291 1,082 1,082 Total intangible assets $ 23,215 $ 11,626 $ 13,129 $ 5,257 Amortization expense and impairment expense for the years ended December 31, 2024, 2023, and 2022, is summarized in the table below (amounts in thousands): Year ended December 31, 2024 2023 2022 Amortization of intangible assets Cost of sales $ 2,997 $ — $ — Operating expense 765 762 701 Total amortization of intangible assets $ 3,762 $ 762 $ 701 Impairment of intangible assets $ 446 $ — $ — The impairment of intangible assets in 2024 related to patents which were abandoned. Expected future amortization of intangible assets as of December 31, 2024, is as follows (in thousands): Estimated Amortization Year Ending December 31, Expense 2025 $ 3,008 2026 1,766 2027 1,765 2028 1,763 2029 607 Thereafter 1,418 Total amortization expense $ 10,327

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consist of the following (in thousands): December 31, 2024 2023 External commissions $ 3,843 $ 4,136 Accrued GPO Fees 411 1,338 Estimated returns 1,990 1,096 Legal costs 459 834 Accrued rebates 1,223 745 Accrued inventory receipts 871 174 Other 215 1,038 Total $ 9,012 $ 9,361

Long Term Debt

Long Term Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Long Term Debt	Long Term Debt Citizens Credit Agreement On January 19, 2024 (the “ Closing Date ”), the Company entered into a Credit Agreement (the “ Citizens Credit Agreement ”) with certain lenders party thereto, and Citizens Bank, N.A. as administrative agent (the “ Agent ”). The Citizens Credit Agreement provides for senior secured credit facilities in an aggregate principal amount of up to $95.0 million consisting of: (i) a $75.0 million senior secured revolving credit facility (the “ Revolving Credit Facility ”) with a $10.0 million letter of credit sublimit and a $10.0 million swingline loan sublimit, and (ii) a $20.0 million senior secured term loan facility (the “ Term Loan Facility ” and, together with the Revolving Credit Facility, the “ Credit Facilities ”). All obligations are required to be paid in full on January 19, 2029 (the “ Maturity Date ”). The Company has the option to obtain one or more incremental Term Loan Facilities and/or increase the commitments under the Revolving Credit Facility in an aggregate principal amount equal to the greater of (i) $50.0 million and (ii) 1.00 times the Company’s Consolidated EBITDA (as defined therein), each subject to the existing or any new lenders’ election to extend additional term loans or revolving commitments. At the Company’s option, borrowings under the Citizens Credit Agreement (other than any swingline loan) will bear interest at a rate per annum equal to (i) the Alternate Base Rate, as defined therein, or (ii) a Term Secured Overnight Financing Rates (“ SOFR ”), as defined therein, in each case plus an applicable margin ranging from 1.25% and 2.50% with respect to Alternate Base Rate borrowings and 2.25% and 3.50% for Term SOFR borrowings, plus a fallback provision of 0.1%. Swingline loans will bear interest at a rate per annum equal to one-month Term SOFR plus the applicable margin. The applicable margin will be determined based on the Company’s consolidated total net leverage ratio. The Company is required to pay a quarterly commitment fee on any unused portion of the Revolving Credit Facility, letter of credit fees, and other customary fees to the Agent and the Lenders. The Term Loan Facility will amortize on a quarterly basis at 1.25% (for year one and two), 1.88% (for year three and four), and 2.5% (for year five) based on the aggregate principal amount outstanding under the Term Loan Facility on the Closing Date, with the remainder due on the Maturity Date. The Company must make mandatory prepayments in connection with certain asset dispositions and casualty events, subject in each case to customary reinvestment rights. The Company may prepay borrowings under the Credit Facilities at any time, without premium or penalty, and may, at its option, reduce the aggregate unused commitments under the Revolving Credit Facility in whole or in part, in each case subject to the terms of the Credit Agreement. The Company must also comply with certain financial covenants, including a maximum total net leverage ratio and a minimum consolidated fixed charge coverage ratio, as well as other customary restrictive covenants. As of December 31, 2024, the Company is in compliance with all financial covenants under the Citizens Credit Agreement. Original issue discount and deferred financing costs incurred as part of the Credit Facilities were allocated between the Term Loan Facility and the Revolving Credit Facility on the basis of the maximum potential principal outstanding permitted under the Citizens Credit Agreement. The allocation of the deferred financing costs and original issue discount between the Term Loan Facility and the Revolving Credit Facility were as follows (in thousands): January 19, 2024 Term Loan Facility Revolving Credit Facility Total Long term debt, net Other assets Original issue discount $ 224 $ 839 $ 1,063 Deferred financing costs 54 202 256 On the Closing Date, the Company borrowed $30.0 million under the Revolving Credit Facility and $20.0 million under the Term Loan Facility. Proceeds from the initial drawings under the Credit Facilities together with cash on hand were used to repay in full the $50.0 million principal amount and other outstanding obligations under the Hayfin Term Loan, as defined below, and to pay related fees, premiums, costs and expenses (collectively with the entry into the Citizens Credit Agreement and the initial borrowings thereunder, the “ Debt Refinancing Transactions ”) . The Company recorded a loss on extinguishment of debt of $1.4 million. This amount is reflected as a part of interest expense, net on the consolidated statement of operations for the year ended December 31, 2024. The composition of the loss on extinguishment of debt was as follows (amounts in thousands): January 19, 2024 Unamortized deferred financing costs $ 781 Unamortized original issue discount 120 Prepayment premium 500 Loss on extinguishment of debt $ 1,401 During February 2024, the Company repaid the initial $30.0 million drawing under the Revolving Credit Facility and had no outstanding borrowings under this facility as of December 31, 2024. Deferred financing costs and original issue discount allocated to the Revolving Credit Facility are amortized straight-line through the expiration of the commitment term. The Revolving Credit Facility is currently subject to a commitment fee of 0.25% per annum of the amount undrawn, which is recognized as interest expense. Hayfin Loan Agreement In June 2020, the Company entered into a Loan Agreement with, among others, Hayfin Services, LLP, and affiliate of Hayfin Capital Management, LLP (as amended from time to time, the “ Hayfin Loan Agreement ”), under which Hayfin provided the Company with a senior secured term loan of $50.0 million (the “ Hayfin Term Loan ”). The Hayfin Term Loan was to mature on June 30, 2025 (the “ Hayfin Maturity Date ”). Interest on the Hayfin Term Loan was based on SOFR, plus a fallback provision of 0.15%, subject to the Floor, plus the Margin. Annually, the Company was required to prepay the outstanding loans based on a percentage of Excess Cash Flow (as defined in the Hayfin Loan Agreement), if such were generated. Had the Company not executed the Debt Refinancing Transactions, the Company would have been required to prepay a portion of the outstanding principal pursuant to the Excess Cash Flow provision under the Hayfin Loan Agreement for the year ended December 31, 2023. The $1.0 million of principal repayments for the year ending December 31, 2024 reflects the scheduled principal payments pursuant to the Citizens Credit Agreement (as defined above) during that period, therefore representing the current obligation that was not refinanced on a long-term basis. This amount is classified as current portion of long term debt in the Company’s consolidated balance sheets. The balances of the Term Loan Facility as of December 31, 2024 and the Hayfin Term Loan as of December 31, 2023 were as follows (amounts in thousands): December 31, 2024 December 31, 2023 Current portion of long term debt Long term debt, net Current portion of long term debt Long term debt, net Outstanding principal $ 1,000 $ 18,000 $ 1,000 $ 49,000 Deferred financing costs — (33) — (781) Original issue discount — (137) — (120) Total $ 1,000 $ 17,830 $ 1,000 $ 48,099 Interest expense related to the Term Loan Facility and the Hayfin Term Loan included in interest expense, net in the consolidated statements of operations, was as follows (amounts in thousands): Year Ended December 31, 2024 2023 2022 Stated interest $ 1,797 $ 6,078 $ 4,559 Amortization of deferred financing costs 47 438 405 Accretion of original issue discount 91 67 62 Interest expense $ 1,935 $ 6,583 $ 5,026 Interest expense related to the Revolving Credit Facility included in interest expense, net in the consolidated statements of operations, was as follows (amounts in thousands): Year Ended December 31, 2024 Commitment fee $ 178 Amortization of deferred financing costs 63 Accretion of original issue discount 168 Interest expense $ 409 Scheduled principal payments due on the Term Loan Facility, by year, as of December 31, 2024 through maturity are as follows (in thousands): Year ending December 31, Principal 2025 $ 1,000 2026 1,500 2027 1,500 2028 2,000 2029 13,000 Thereafter — Long term debt $ 19,000 As of December 31, 2024, the fair value of the Term Loan Facility was $18.7 million. This valuation was calculated based on a series of Level 2 and Level 3 inputs, including a discount rate based on the credit risk spread of debt instruments of similar risk character in reference to U.S. Treasury instruments with similar maturities, with an incremental risk premium for risk factors specific to the Company. The remaining cash flows associated with the Term Loan Facility were discounted to December 31, 2024 using this discount rate to derive the fair value.

Basic and Diluted Net Loss Per

Basic and Diluted Net Loss Per Common Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Basic and Diluted Net Loss Per Common Share	Basic and Diluted Net Loss Per Common Share Net loss per common share is calculated using two methods: basic and diluted. Basic Net Loss Per Common Share The following table provides a reconciliation of net loss to net loss available to common shareholders and calculation of basic net loss per common share for each of the years ended December 31, 2024, 2023, and 2022 (amounts in thousands, except share and per-share amounts): Year ended December 31, 2024 2023 2022 Net income (loss) from continuing operations $ 41,998 $ 67,439 $ (19,953) Income (loss) from discontinued operations, net of tax 421 (9,211) (10,244) Net income (loss) 42,419 58,228 (30,197) Adjustments to reconcile to net loss available to common stockholders: Accumulated dividend on previously converted Series B Preferred Stock — 6,753 6,580 Preferred share repurchase in excess of book value — 4,890 — Total adjustments — 11,643 6,580 Net income (loss) available to common stockholders from continuing operations $ 41,998 $ 55,796 $ (26,533) Weighted average common shares outstanding 146,979,354 116,495,810 112,909,266 Basic net income (loss) per common share: Continuing operations $ 0.29 $ 0.48 $ (0.24) Discontinued operations 0.00 (0.08) (0.09) Basic net income (loss) per common share $ 0.29 $ 0.40 $ (0.33) Diluted Net Loss Per Common Share The following table sets forth the computation of diluted net loss per common share (in thousands, except share and per-share amounts): Year ended December 31, 2024 2023 2022 Net income (loss) available to common stockholders from continuing operations $ 41,998 $ 55,796 $ (26,533) Adjustments: Dividends on previously converted Series B Preferred Stock — 6,466 6,580 Preferred share repurchase in excess of book value — 5,177 — Less: antidilutive adjustments — (5,177) (6,580) Total adjustments — 6,466 — Numerator Net income (loss) available to common stockholders from continuing operations 41,998 62,262 (26,533) Income (loss) from discontinued operations, net of tax 421 (9,211) (10,244) Weighted average common shares outstanding 146,979,354 116,495,810 112,909,266 Adjustments: Potential common shares (a) Previously converted Series B Preferred Stock — 27,457,905 — Restricted stock unit awards 1,447,217 1,452,153 — Outstanding stock options 473,015 396,779 — Performance stock unit awards 149,611 137,425 — Restricted stock awards — 22,136 — Employee stock purchase plan — 254 — Total adjustments 2,069,843 29,466,652 — Weighted average common shares outstanding adjusted for potential common shares 149,049,197 145,962,462 112,909,266 Diluted net income (loss) per common share: Continuing operations $ 0.28 $ 0.43 $ (0.24) Discontinued operations 0.00 (0.06) (0.09) Diluted net income (loss) per common share $ 0.28 $ 0.37 $ (0.33) (a) Weighted average common shares outstanding for the calculation of diluted net loss per common share does not include the following adjustments for potential common shares below because their effects were determined to be anti-dilutive for the periods presented: Year ended December 31, 2024 2023 2022 Series B Preferred Stock — 1,219,348 27,850,916 Restricted stock unit awards — — 546,883 Restricted stock awards — — 217,971 Outstanding stock options — — 65,720 Performance stock unit awards — — 5,251 Employee stock purchase plan — — 18,852 Potential common shares — 1,219,348 28,705,593

Equity

Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Equity	Equity Series B Preferred Stock Repurchase In October 2023, the Company repurchased 5,000 shares of the Company’s Series B Preferred Stock for $9.5 million (the “ Repurchase ”) pursuant to a Securities Purchase Agreement with certain entities managed by or affiliated with Hayfin Capital Management LLP (the “ Hayfin Shareholders ”). In connection with the Repurchase, the Hayfin Shareholders entered into customary lock-up provisions requiring them to retain the balance of their equity positions for a period of at least one year. Management assessed whether the consideration paid could have reflected a non pro-rata distribution and reached the conclusion that it was not. Mandatory Conversion In December 2023, the remaining 95,000 outstanding shares of the Company’s Series B Preferred Stock, together with accrued dividends, were mandatorily converted into shares of the Company’s Common Stock in accordance with the Series B Preferred Stock terms set forth in the Company’s Articles of Incorporation. As a result of this conversion, the Company issued 29,761,650 shares of Common Stock to the holders of the Series B Preferred Stock. The conversion of the shares ended the dividend accrual associated with the Series B Preferred Stock The below table illustrates changes in the Company’s balance of the Series B Preferred Stock for the year ended December 31, 2023. (in thousands, except per share amounts): Series B Preferred Stock Shares Amount Balance at December 31, 2022 100,000 $ 92,494 Repurchase of Series B Preferred Stock (5,000) (4,625) Conversion of Series B Preferred Stock (95,000) (87,869) Balance at December 31, 2023 — $ — There was no activity related to the Series B Preferred Stock during the year ended December 31, 2022. As a result of their conversion in December 2023, there were no shares of Series B Preferred Stock outstanding at any point during the year ended December 31, 2024. Stock-Based Compensation Awards The Company has two share-based compensation plans which provide for the granting of equity awards, including qualified incentive and non-qualified stock options and restricted stock awards: the MiMedx Group, Inc. 2016 Equity and Cash Incentive Plan Amended and Restated through March 2, 2023 (the “ 2016 Plan ”), which was approved by shareholders on May 18, 2016, and the MiMedx Group, Inc. Assumed 2006 Stock Incentive Plan (the “ Prior Incentive Plan ”). During the years ended December 31, 2024, 2023, and 2022 the Company used only the 2016 Plan to make grants. The 2016 Plan permits the grant of equity awards to the Company’s employees, directors, consultants and advisors for up to 13,400,000 share s o f the Company’s common stock plus (i) the number of shares of the Company’s common stock that remain available for issuance under the Prior Incentive Plan, and (ii) the number of shares that are represented by outstanding awards that later become available because of the expiration or forfeiture of the award without the issuance of the underlying shares. Awards granted under the 2016 Plan are subject to a vesting schedule as set forth in each individual agreement. A summary of share-based compensation expense recognized for each of the years ended December 31, 2024, 2023, and 2022 is as follows (in thousands): Year Ended December 31, 2024 2023 2022 Cost of sales $ 1,546 $ 1,533 $ 1,213 Selling, general and administrative 14,646 14,776 9,578 Research and development 741 650 537 Total share-based compensation 16,933 16,959 11,328 Income tax benefit, before consideration of valuation allowance (4,233) (4,240) (2,832) Total share-based compensation, net of tax benefit $ 12,700 $ 12,719 $ 8,496 Stock Options The Company grants stock options to certain of its employees. Each stock option granted reflects the right to purchase one share of stock for a stipulated price. Except for the CEO Performance Option (as defined below), all of the Company’s stock option grants outstanding as of December 31, 2024 vest exclusively based on continued service to the Company through each relevant vesting date. All stock options outstanding vest in four equal annual tranches. A summary of stock option activity for the year ended December 31, 2024 is presented below: Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2024 4,042,520 $ 4.06 Granted 344,026 8.63 Exercised (207,686) 6.79 Unvested options forfeited — — Vested options expired (123,334) 7.17 Outstanding at December 31, 2024 4,055,526 4.21 5.16 21,952 Exercisable at December 31, 2024 341,000 $ 4.21 4.87 $ 1,851 With the exception of the CEO Performance Option (as defined and explained below), all options granted during the years ended December 31, 2024 and 2023 were valued using a Black-Scholes model. The below table reflects the material inputs used to value the options granted during those periods (exclusive of the CEO Performance Option). Year ended December 31, 2024 2023 Stock price on grant date $ 8.63 $ 6.44 Exercise price $ 8.63 $ 6.44 Expected term (years) 4.75 4.75 Risk-free interest rate 4.2 % 4.3 % Expected volatility (annualized) 66 % 77 % Dividend yield — % — % Weighted average grant date fair value $ 4.93 $ 4.10 There were no options granted during the year ended December 31, 2022. The intrinsic values of the options exercised during the years ended December 31, 2024, 2023, and 2022 were $0.2 million, $0.2 million, and $0.6 million, respectively. Cash received from option exercise under all share-based payment arrangements for the years ended December 31, 2024, 2023, and 2022 was $1.4 million, $1.0 million, and $0.7 million, respectively. The actual tax benefit for the tax deductions from option exercise of the share-based payment arrangements totaled $0.1 million, $0.2 million, and $0.2 million, respectively, for the years ended December 31, 2024, 2023, and 2022. The Company has a policy of using its available repurchased treasury stock, if any, to satisfy option exercises prior to the issuance of new shares of common stock. There was $3.4 million unrecognized compensation expense related to unvested stock options at December 31, 2024, which is expected to be recognized over 2.33 years. Restricted Stock Units The Company grants RSUs to certain employees and to its Board of Directors. RSUs reflect contracts reflecting the right to receive on share of Common Stock on a specified date, provided the recipient continues to provide service to the Company through the relevant vesting date. RSUs generally vest over a one Historically, the Company also granted Restricted Stock Awards (“ RSAs ”) to employees. RSAs conferred one share of common stock to the recipient which was returnable if the associated vesting conditions were not satisfied. The RSAs had similar vesting conditions to RSUs. The Company did not grant any RSAs during the year ended December 31, 2024, nor does it have any unvested RSAs outstanding as of December 31, 2024. A summary of RSU activity for the year ended December 31, 2024 is presented below: Number of Weighted-Average Grant Date Unvested at January 1, 2024 3,908,739 $ 5.38 Granted 2,046,126 8.11 Vested (1,803,810) 6.06 Forfeited (639,232) 6.29 Unvested at December 31, 2024 3,511,823 $ 6.46 The total fair value of RSUs and RSAs vested during the years ended December 31, 2024, 2023 and 2022, was $10.9 million $10.3 million, and $10.9 million, respectively. As of December 31, 2024, there was $15.0 million of stock-based compensation expense related to RSUs which is expected to be recognized over 1.90 years. Performance Stock Units The Company grants PSUs to certain employees, primarily its Executive Leadership Team. Like RSUs, PSUs reflect the right to receive one share of Common Stock based on the achievement of specified performance conditions. As of December 31, 2024, all performance conditions associated with PSUs are associated with the achievement of specified net sales targets. In each case, the PSU agreements allow for vesting in excess of the number of shares granted. In all cases except for the CEO Performance PSUs (as defined and explained below), achievement of performance conditions alone can expand the award by up to 150%. Certain of these PSUs are subject to Total Shareholder Return provisions which can limit or expand the number of shares conferred upon the recipient. PSUs also require the recipient to provide continuous service through a specified date or event. A summary of PSU activity for the year ended December 31, 2024 is presented below: PSU Number of Weighted-Average Grant Date Unvested at January 1, 2024 3,727,272 $ 3.84 Granted 450,532 9.41 Vested — — Forfeited — — Unvested at December 31, 2024 4,177,804 $ 4.44 No PSUs vested during the years ended December 31, 2024, 2023 and 2022. As of December 31, 2024, there was $6.7 million of unrecognized stock-based compensation expense related to unvested PSUs, which is expected to be recognized over 2.08 years. This amount reflects the level of vesting determined to be “probable” for all such awards. Any subsequent adjustments to expense would be reflected as a cumulative catch-up adjustment in the period of the re-evaluation. If all unvested PSUs were determined to be probable of vesting to their maximum extent, it would result in a cumulative catch-up adjustment of $7.8 million as of December 31, 2024. Conversely, the determination that none of the unvested PSUs are probable of vesting would result in a benefit of $5.9 million. CEO Performance Grant On January 27, 2023, the Board of Directors appointed Joseph H. Capper to serve as Chief Executive Officer. The Company entered into a Letter Agreement with Mr. Capper that included, among other things, a grant of 3,300,000 PSUs (the “ CEO Performance PSUs ”) and a non-qualified stock option (the “ CEO Performance Option ”, collectively with the CEO Performance PSUs, the “ CEO Performance Grant ”) for 3,600,000 shares of the Company’s common stock. In addition to continued employment with the Company, the occurrence and extent of vesting of each component of the CEO Performance Grant is dependent upon the Company’s operating and share price performance: the CEO Performance PSUs vest on the basis of achieved revenue growth, while the CEO Performance Option vests on the basis of share price appreciation. CEO Performance PSUs The CEO Performance PSUs vest in a single tranche on the earlier of the filing date of the Company’s 2026 Annual Report on Form 10-K and March 15, 2027. The occurrence and extent of vesting depends on the Company’s compound annual growth rate (“ CAGR ”) achieved with respect to its revenue growth between the year ended December 31, 2022 and the year ending December 31, 2026. The PSUs may vest with respect to 50% to 200% of the granted number of PSUs, depending on the extent of CAGR achievement. Failure to achieve the CAGR associated with 50% of achievement would result in no vesting. Management determined the probable level of vesting using internally-developed forecasts for the relevant period representing the Company’s best estimate for revenue, with a factor applied to calculate the highest level of CAGR evaluated to be probable of occurring based on that estimate. The Company recognized $2.5 million of expense related to the CEO Performance PSUs during year ended December 31, 2024. CEO Performance Option The CEO Performance Option grants Mr. Capper the right to purchase up to 3,600,000 shares of common stock for $3.70 per share. The CEO Performance Option vests based on the satisfaction of service and market conditions. Mr. Capper may vest in 25% of the CEO Performance Option on each of the first four anniversary dates of the date of grant provided that he remains employed by the Company and provided that specified share price goals are achieved at any point between the date of grant and January 31, 2027. There are three separate share price goals associated with the CEO Performance Option. If specified share price goals are met at one level, one-third of the option may vest, at a second level, a further one-third may vest, and at a third level, the full amount of the option may vest. Satisfaction of the share price goals is based on the average of the closing price of the Company’s common stock during any 20 consecutive trading days through January 31, 2027 exceeding the stipulated share price goal. The CEO Performance Option expires on February 1, 2030. The Company estimated the fair value of the awards using a Monte Carlo simulation using the following assumptions: Assumption Stock price on grant date $ 3.70 Exercise price $ 3.70 Risk-free interest rate 3.6 % Expected volatility (annualized) 75 % Dividend yield — % Weighted average grant date fair value $ 1.93 The risk-free interest rate was derived based on the U.S. Treasury Yield curve in effect at the date of grant for maturities of similar periods to the contractual term. The expected volatility was estimated principally based on the Company’s historical daily stock price movements for a term similar in length to the contractual term. The dividend yield was based on the Company’s history of dividends on its common stock. The fair value was determined using an expected term which reflects the anticipated holding and post-vesting behavior pattern, calculated for each individual simulation. The total grant date fair value of the CEO Performance Option was $7.0 million. The fair value associated with each tranche of the award will be recognized, straight-line, over the associated requisite service period for that tranche, subject to acceleration if the market condition is met prior to the end of the derived service period. Failure to meet the market condition for an award does not result in reversal of previously-recognized expense, so long as the service is provided for the duration of the required service period. The Company recognized $2.4 million of expense related to the CEO Performance Option during year ended December 31, 2024. Employee Stock Purchase Plan The Company’s ESPP qualifies as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. All regular full-time employees of the Company (including officers) and all other employees who meet the eligibility requirements of the plan may participate in the ESPP. The ESPP provides eligible employees an opportunity to acquire the Company’s common stock on a semi-annual basis at a purchase price of 85% of the lower of the closing price per share of the Company’s common stock on the first day and the last day of each six-month purchase period (the “ Purchase Period ”). The aggregate number of shares which may be issued and sold under the ESPP is 3 million shares of common stock. For the years ended December 31, 2024, 2023 and 2022, the Company recorded $0.6 million, $0.5 million, and $0.2 million, respectively, in stock-based compensation expense related to the ESPP. As of December 31, 2024 and 2023, the Company had cumulative payroll deferrals under the ESPP for future share purchases of $0.6 million and $0.7 million, respectively. This amount is included in accrued compensation in the consolidated balance sheet. Unrecognized stock compensation for the period is less than $0.1 million to be recognized over a weighted average period of 0.08 years. Share Withholding for Employee Taxes Repurchases of shares of Common Stock in connection with the satisfaction of employee tax withholding obligations upon vesting of restricted stock and exercise of stock options for the years ended December 31, 2024, 2023, and 2022 were 354,263, 0, and 249,442, respectively, for an aggregate purchase price of $2.6 million, $0, and $1.2 million, respectively.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Net Sales By Product Category MIMEDX has two product categories: (1) Wound, which reflects products typically used in Advanced Wound Care settings, including the treatment of chronic, non-healing wounds, and (2) Surgical, which reflects products principally used in surgical settings, including the closure of acute wounds or the protect and reinforce tissues and/or regions of interest. The Company manages its product portfolio and pipeline based upon opportunities in each of these settings. Below is a summary of net sales by product line (in thousands): Year Ended December 31, 2024 2023 2022 Wound $ 231,004 $ 205,660 $ 175,970 Surgical 117,875 115,817 91,871 Total $ 348,879 $ 321,477 $ 267,841 The Company did not have significant foreign operations or a single external customer from which 10% or more of revenues were derived during the years ended December 31, 2024, 2023, or 2022. Net Sales By Care Setting MIMEDX has three sites of service for its products (1) Hospital settings and wound care clinics, which are stable reimbursement settings in which products are used for both wound and surgical applications, (2) Private offices, which generally represents doctors and practitioners with independent operations, and (3) Other, which includes federal facilities, international sales, and other sites of service. Below is a summary of net sales by site of service (in thousands): Year Ended December 31, 2024 2023 2022 Hospital $ 187,440 $ 187,000 $ 163,206 Private Office 112,388 95,789 77,158 Other 49,051 38,688 27,477 Total $ 348,879 $ 321,477 $ 267,841 Reimbursement Changes On April 13, 2025, new Local Coverage Determinations (“ LCDs Sales Returns Allowance Activity related to the Company’s sales returns allowance during the year ended December 31, 2024 was as follows (in thousands): Sales Returns Allowance Balance at December 31, 2022 $ 659 Additions 3,899 Deductions and write-offs (3,462) Balance at December 31, 2023 1,096 Additions 4,314 Deductions and write-offs (3,420) Balance at December 31, 2024 $ 1,990

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information The Company determines its operating segment based on how the Chief Operating Decision Maker (“ CODM ”) reviews the business and makes resource allocation decisions. The Company concluded that Joseph Capper, the Company’s Chief Executive Officer, is the CODM. The Company has a single operating segment, which has not been aggregated with other operating segments. The Company defines its segment on the basis in which internal reported financial information is regularly reviewed by the CODM to analyze financial performance and make capital allocation decisions. The CODM uses several measures of profit or loss to assess Company performance and allocate resources. Of these measures, net income (loss) is the measure that most aligns to GAAP. Other measures used by the CODM includes adjusted earnings before interest, taxes, depreciation and amortization. The CODM assesses actual results against budgets and forecasts, and uses this information to inform various strategic investments into the Company’s operations, including headcount and compensation. Each financial statement caption included on the consolidated statements of operations reflects a significant segment expense evaluated by the CODM. In addition to this, the CODM also evaluates selling and marketing expense and general and administrative expense, both of which are components of selling, general, and administrative expense on the consolidated statements of operations. Selling and marketing expense reflects costs associated with the sale of the Company’s products, as well as the costs of functions that support these efforts. This includes salaries and commissions associated with the Company’s direct sales force, commissions paid to sales agents, and expenses incurred by other sales support functions. General and administrative expense reflects expenses incurred by the Company’s operating functions which do not directly advance the Company’s sales efforts, such as the Company’s finance, legal and human resource functions, among other departments. The below table presents selling and marketing and general administrative expense for each of the years ended December 31, 2024, 2023, and 2022. Year Ended December 31, 2024 2023 2022 Selling and marketing $ 175,562 $ 161,833 $ 151,227 General and administrative 49,525 49,291 57,446 Selling, general and administrative $ 225,087 $ 211,124 $ 208,673 Below is a breakout of interest expense and interest income for each of the years ended December 31, 2024, 2023, and 2022. Year Ended December 31, 2024 2023 2022 Interest income $ 2,932 $ 118 $ 32 Interest expense (3,938) (6,575) (5,048) Interest expense, net $ (1,006) $ (6,457) $ (5,016) To see depreciation expense, amortization expense, income tax expense and significant noncash items for this segment please refer to Note 5, Property and Equipment, Net , Note 7, Goodwill and Intangible Assets, Net , Note 16, Income Taxes and Note 17, Supplemental Disclosure of Cash Flow and Non-Cash Investing and Financing Activities , respectively.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions During 2024, the Company entered into various Asset Purchase Agreements (“ APAs ”) and associated Manufacturing and Supply Agreements (“ MSAs ”) in an effort to inorganically expand its product offering. These transactions were accounted for as acquisitions of assets and the Company did not assume any liabilities associated with these activities. Total consideration for these transactions during 2024 was $7.9 million. Additional payments may be required in future periods in connection with these transactions. TELA and Regenity Agreements On March 15, 2024, the Company entered into an Asset Purchase Agreement (the “ TELA APA ”) with TELA Bio, Inc. (“ TELA ”) to obtain exclusive rights to sell and market a 510(k)-cleared collagen particulate xenograft product in the United States. TELA held these rights pursuant to a Manufacturing and Supply Agreement (the “ TELA-Regenity Supply Agreement ”) between TELA and Regenity Biosciences, Inc. (“ Regenity ”), which retains all intellectual property rights and regulatory clearances related to the product. Pursuant to the TELA APA, the Company paid $5.0 million of initial consideration to TELA; additionally, the Company paid $0.4 million to acquire TELA’s remaining product inventory, and will be required to make additional payments (the “ Profit Share Payments ”) of between a minimum of $3.0 million and a maximum of $7.0 million based on MIMEDX’s net sales of the product over the two years following its commercialization of the product, which occurred during the second quarter of 2024. In connection with the execution of the TELA APA, the Company was able to renegotiate the terms of the TELA-Regenity Supply Agreement, ultimately replacing it with a new Manufacturing and Supply Agreement (the “ Supply Agreement ”) with Regenity. The Supply Agreement maintains MIMEDX’s exclusive right to sell and market the product in the United States. The transaction was accounted for as an acquisition of assets, as substantially all the fair value of the acquired assets was concentrated in the acquired exclusive distribution rights. The cost to acquire the assets on the transaction date was $8.1 million, reflecting the $5.0 million of initial consideration, $0.4 million to acquire inventory, and $2.7 million, which represented the fair value of the minimum amount of the Profit Share Payments. This amount reflected the anticipated timing of such Profit Share Payments, discounted to present value at a discount rate approximating the Company’s borrowing rate plus a risk premium, all of which reflect Level 3 inputs as of the acquisition date. These costs were allocated amongst the assets acquired. The Company assigned $7.6 million to the distribution rights acquired and $0.5 million to inventory. The amount ascribed to the distribution rights will be amortized over five years, generally reflective of the period of time over which the distribution rights are anticipated to contribute to cash flow generation. Any Profit Share Payments exceeding the $3.0 million minimum will be capitalized in the period incurred as a part of the acquired assets and amortized over the remaining life of such assets.

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations Disbanding of Regenerative Medicine Business Unit In the second quarter of 2023, the Company announced the disbanding of its Regenerative Medicine reportable segment and the suspension of its Knee Osteoarthritis clinical trial program. The announcement reflected the abandonment of the Company’s efforts to pursue a Biological License Application for its micronized dehydrated amnion chorion membrane product and a major definitive strategic shift in the Company’s focus toward its continuing commercial pipeline as its primary source of value creation. The Company completed the regulatory obligations associated with the clinical trial during the fourth quarter of 2023, at which time material run-off operations had ceased and Regenerative Medicine met the criteria for presentation as a discontinued operation. Financial Statement Impact of Discontinued Operations The income and expenses of the discontinued operation have been classified as income (loss) from discontinued operations in the consolidated statements of operations as of December 31, 2024, 2023, and 2022 as follows (in thousands): Year Ended December 31, 2024 2023 2022 Selling, general and administrative expense $ (221) $ — $ 116 Research and development expense (200) 8,017 10,128 Restructuring expense — 4,168 — Income tax provision benefit — (2,974) — Income (loss) from discontinued operations $ 421 $ (9,211) $ (10,244) The assets and liabilities of the discontinued operations have been classified as discontinued operations in the consolidated balance sheet as of December 31, 2024 and 2023 as follows (in thousands): December 31, 2024 2023 Current liabilities: Accrued compensation $ — $ 311 Accrued expenses — 1,041 Current liabilities of discontinued operations $ — $ 1,352 Goodwill As a result of the announcement of the disbanding of Regenerative Medicine business unit, the Company evaluated goodwill associated with the Regenerative Medicine reporting unit for potential impairment. The Company estimated fair value for the reporting unit using the income approach; specifically, a discounted cash flow method. As a result of this assessment, management concluded that the carrying value of the reporting unit exceeded its fair value by an amount that exceeded its goodwill balance. Accordingly, the Company recognized an impairment loss for the full amount of the goodwill ascribed to the Regenerative Medicine reporting unit. The goodwill impairment loss is included as a component of discontinued operations in the audited consolidated statement of operations for the year ended December 31, 2023. Impairment of goodwill of $0.5 million was recorded as part of loss from discontinued operations for the year ended December 31, 2023.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 31, 2024 2023 Deferred Tax Assets: Capitalized research and development expenditures $ 9,970 $ 10,843 Research and development and other tax credits 6,752 8,117 Share-based compensation 3,933 3,266 Net operating loss 3,713 13,712 Accrued expenses 3,038 3,660 Lease liabilities 1,456 600 Allowance for doubtful accounts 778 778 Intangible assets 580 — Sales return and allowances 494 270 Property and equipment 295 84 Interest limitation carry forward — 1,873 Other 155 437 Deferred Tax Liabilities: Prepaid expenses (949) (1,045) Right of use asset (1,392) (571) Interest limitation carry forward (12) — Intangible assets — (337) Net Deferred Tax Assets 28,811 41,687 Less: Valuation allowance (505) (910) Net Deferred Tax Assets after Valuation Allowance $ 28,306 $ 40,777 The reconciliation of the federal statutory income tax rate of 21% to the effective rate is as follows: Year ended December 31, 2024 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 4.1 % (21.8) % (0.8) % Nondeductible compensation 1.1 % 1.8 % (3.2) % Deferred tax adjustments 0.9 % 1.3 % (4.4) % Meals and entertainment 0.6 % 1.2 % (0.2) % Uncertain tax positions — % 0.4 % (0.5) % Valuation allowance — % (123.5) % (12.5) % Tax credits (0.7) % (3.2) % 4.9 % Share-based compensation (1.0) % 2.8 % (6.1) % Other 0.7 % (0.2) % 0.6 % Effective tax rate 26.7 % (120.2) % (1.0) % The effective tax rate for the year ended December 31, 2023 was significantly impacted by the reversal of a valuation allowance. In the period, the Company noted that it was no longer in a cumulative three-year loss on a continuing operations basis, after excluding the effects of permanent book-tax differences. The absence of such negative evidence, coupled with the Company’s expectation for future taxable income generation, led to a change in our assessment of the realizability of our deferred tax assets. Current and deferred income tax expense (benefit) is as follows (in thousands): Year Ended December 31, 2024 2023 2022 Current: Federal $ 703 $ 576 $ — State 2,121 422 206 Total current 2,824 998 206 Deferred: Federal 11,626 (31,633) — State 846 (9,144) — Total deferred 12,472 (40,777) — Income tax provision expense (benefit) $ 15,296 $ (39,779) $ 206 Certain items of income and expense are not reported in tax returns and financial statements in the same year. The tax effects of such temporary differences are reported as deferred income tax assets and liabilities. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefit that, based on available evidence, is not expected to be realized. The Company establishes a valuation allowance for deferred tax assets for which realization is not more likely than not. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. A valuation allowance of $0.5 million and $0.9 million was recorded against the deferred tax asset balance as of December 31, 2024 and 2023, respectively. In the event that the weight of the evidence changes in the future, any increase or decrease in the valuation allowance would result in a income tax 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 $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 Benefits The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands) included in the consolidated balance sheets: 2024 2023 2022 Unrecognized tax benefits - January 1 $ 807 $ 645 $ 469 Increases - tax positions in current period 53 124 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 remain open for exam by taxing jurisdictions. Additional prior years may be open to the extent attributes are being carried forward to an open tax year.

Supplemental Disclosure of Cash

Supplemental Disclosure of Cash Flow and Non-Cash Investing and Financing Activities	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosure of Cash Flow and Non-Cash Investing and Financing Activities	Supplemental Disclosure of Cash Flow and Non-Cash Investing and Financing Activities Selected cash payments, receipts, and non-cash activities are as follows (in thousands): Year Ended December 31, 2024 2023 2022 Cash paid for interest $ 2,698 $ 6,034 $ 4,569 Income taxes paid (refunded) 3,247 (548) 181 Cash paid for operating leases 1,618 1,635 1,567 Non-cash activities: Conversion of Series B Preferred Stock — 87,870 — Fair value of shares received in settlement of litigation 9,300 — — Minimum Profit Share Payments pursuant to TELA APA 2,731 — — Issuance of shares pursuant to employee stock purchase plan 1,582 1,367 — Purchases of equipment included in accounts payable — 228 417 Financing costs incurred but not paid for Citizens Financing Transaction — 138 — Legal fees associated with the Repurchase of Series B Preferred Stock — 45 — Lease right of use asset and liability 5,333 — (37) Contingent consideration payable 441 — —

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contractual Commitments The Company has commitments for meeting spaces, generally for hotel and conference spaces for company functions. These commitments generally contain renewal options. The estimated meeting space commitments are as follows (in thousands): Year ending December 31, Meeting Space Commitments 2025 $ 237 2026 108 Total $ 345 Litigation and Regulatory Matters In the ordinary course of business, the Company and its subsidiaries may be a party to pending and threatened legal, regulatory, and governmental actions and proceedings (including those described below). In view of the inherent difficulty of predicting the outcome of such matters, particularly where the plaintiffs or claimants seek very large or indeterminate damages or where the matters present novel legal theories or involve a large number of parties, the Company generally cannot predict what the eventual outcome of the pending matters will be, what the timing of the ultimate resolution of these matters will be, or what the eventual recovery, loss, fines or penalties related to each pending matter may be. In accordance with applicable accounting guidance, the Company accrues a liability when legal matters present loss contingencies that are both probable and estimable. The Company's financial statements at December 31, 2024 reflect the Company's current best estimate of probable losses associated with pending matters, including costs to comply with various settlement agreements, where applicable. The Company had zero accrued as of December 31, 2024 and December 31, 2023, respectively, related to expected settlement costs related to legal matters. The actual costs of resolving pending litigation matters may be in excess of the amounts accrued. The Company paid $0.6 million, $0.2 million, and $0.7 million toward the resolution of legal matters involving the Company during the years ended December 31, 2024, 2023, and 2022, respectively. In addition, insurance providers paid $0.6 million on the Company’s behalf to settle legal matters for the year ended December 31, 2022. During the second quarter 2024, the Company received 1.2 million shares of its own common stock in the settlement of certain legal matters. The Company accounted for the repayment of shares as a loss recovery, as the repayment related to the recoupment of legal fees previously incurred, but not in excess of the amount originally recorded. The Company recorded $9.3 million, reflecting the fair value of the returned shares on the date of the prevailing agreement, as a reduction to investigation, restatement and related expense on the consolidated statements of operations, where the legal fees to which this recovery originally related were recorded as they were incurred, for the year ended December 31, 2024. The Company is a party to a variety of legal matters that arise in the ordinary course of the Company’s business, none of which are deemed to be individually material at this time. Due to the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on the Company’s business, results of operations, financial position or liquidity. AXIOFILL

401(k) Plan

401(k) Plan	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
401(k) Plan	401(k) Plan The Company has a 401(k) plan (the “ 401(k) Plan ”) covering all employees who have completed one month of service. Under the 401(k) Plan, participants could defer up to 90% of their eligible wages to a maximum of $23,000 per year (annual limit for 2024). Employees age 50 or over in 2024 could make additional pre-tax contributions of up to $7,500. In 2024, 2023 and 2022, the Company matched 50% of employee contributions up to 8% of the employee’s eligible compensation. The matching contribution for the years ended December 31, 2024, 2023, and 2022 was $2.6 million, $2.7 million, and $3.3 million, respectively.

Government Assistance

Government Assistance	12 Months Ended
	Dec. 31, 2024
Government Assistance [Abstract]
Government Assistance	Government Assistance Employee Retention Credit The Coronavirus Aid, Relief, and Economic Security Act (“ CARES Act ”) provided an employee retention credit (“ ERC ”), which was a refundable tax credit against certain payroll taxes. Upon determination that the Company overcame the barriers required to receive the credit, the Company qualified and filed to claim the ERC. The Company reflected the ERC as a reduction to the respective captions on the consolidated statements of operations associated with the employees to which the payroll tax benefit related. The Company has recorded $1.0 million as part of other current assets

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 42,419	$ 58,228	$ (30,197)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We face significant and persistent cybersecurity risks due primarily to: the substantial level of harm that could occur to us and our customers were we to suffer impacts of a material cybersecurity incident; and our use of third-party products, services and components. We are committed to maintaining robust governance and oversight of these risks and to implementing mechanisms, controls, technologies, and processes designed to help us assess, identify, and manage these risks. While we have not, as of the date of this Annual Report, experienced a cybersecurity threat or incident that resulted in a material adverse impact to our business or operations, there can be no guarantee that we will not experience such an incident in the future. In addition, these threats are constantly evolving, thereby increasing the difficulty of successfully defending against them or implementing adequate preventative measures. We seek to detect and investigate unauthorized attempts and attacks against our network, products, and services, and to prevent their occurrence and recurrence where practicable through changes or updates to our internal processes and tools and changes or updates to our products and services; however, we remain potentially vulnerable to known or unknown threats.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We face significant and persistent cybersecurity risks due primarily to: the substantial level of harm that could occur to us and our customers were we to suffer impacts of a material cybersecurity incident; and our use of third-party products, services and components. We are committed to maintaining robust governance and oversight of these risks and to implementing mechanisms, controls, technologies, and processes designed to help us assess, identify, and manage these risks. While we have not, as of the date of this Annual Report, experienced a cybersecurity threat or incident that resulted in a material adverse impact to our business or operations, there can be no guarantee that we will not experience such an incident in the future. In addition, these threats are constantly evolving, thereby increasing the difficulty of successfully defending against them or implementing adequate preventative measures. We seek to detect and investigate unauthorized attempts and attacks against our network, products, and services, and to prevent their occurrence and recurrence where practicable through changes or updates to our internal processes and tools and changes or updates to our products and services; however, we remain potentially vulnerable to known or unknown threats.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board of Directors has ultimate oversight of cybersecurity risk, which it manages as part of our enterprise risk management program.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board of Directors is assisted by the Audit Committee, which regularly reviews our cybersecurity program with management and reports to the Board of Directors.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Cybersecurity reviews by the Audit Committee or the Board of Directors generally occur at least annually, or more frequently as determined to be necessary or advisable.
Cybersecurity Risk Role of Management [Text Block]	Our cybersecurity program is run by the head of our information security department, who reports to our Chief Financial Officer. Our Chief Financial Officer is informed about and monitors prevention, detection, mitigation, and remediation efforts through regular communication and reporting from professionals in the information security team, who hold cybersecurity certifications such as a Certified Information Systems Security Professional, and through the use of technological tools and software and results from third party audits. We have an escalation process in place to inform senior management and the Board of Directors of material issues.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our cybersecurity program is run by the head of our information security department, who reports to our Chief Financial Officer.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our cybersecurity program is run by the head of our information security department, who reports to our Chief Financial Officer. Our Chief Financial Officer is informed about and monitors prevention, detection, mitigation, and remediation efforts through regular communication and reporting from professionals in the information security team, who hold cybersecurity certifications such as a Certified Information Systems Security Professional, and through the use of technological tools and software and results from third party audits.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Chief Financial Officer is informed about and monitors prevention, detection, mitigation, and remediation efforts through regular communication and reporting from professionals in the information security team, who hold cybersecurity certifications such as a Certified Information Systems Security Professional, and through the use of technological tools and software and results from third party audits. We have an escalation process in place to inform senior management and the Board of Directors of material issues.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of MiMedx Group, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation.
Reclassifications	Reclassifications Current portion of long term debt of $1.0 million as of December 31, 2023, which was presented in other current liabilities in previously-issued financial statements, has been reclassified to be presented in a separate line item, still within current liabilities, in these consolidated financial statements to conform to current year presentation.
Use of Estimates	Use of Estimates The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“ GAAP ”). GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported consolidated statements of operations during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates of useful lives of property and equipment and intangible assets, impairment of property and equipment, goodwill and intangible assets, estimates of loss for contingent liabilities, estimate of allowance for doubtful accounts, estimate of fair value of and the probable achievement of performance conditions associated with share-based payment awards, estimates of returns and allowances, estimate of fair value of Profit Share Payments (as defined below), and valuation of deferred tax assets.
Segment Reporting	Segment Reporting The application of GAAP requires the use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s chief operating decision maker (“ CODM ”) organizes segments within the Company for which separate financial information is available regarding resource allocation and assessing performance. The Company has concluded that its Chief Executive Officer (“ CEO
Cash and Cash Equivalents / Market Concentrations and Credit Risk	Cash and Cash Equivalents Cash and cash equivalents include cash held at various banks. The Company considers all highly-liquid investments purchased with an original maturity of three months or less at the date of purchase and money market mutual funds to be cash equivalents. Market Concentrations and Credit Risk The Company places its cash and cash equivalents on deposit with U.S.-based financial institutions. The U.S. Federal Deposit Insurance Corporation (“ FDIC ”) provides insurance coverage for deposits up to $250,000 for substantially all depository accounts. As of December 31, 2024 and 2023, the Company had cash and cash equivalents of approximately $103.7 million and $81.3 million, respectively, in excess of the insured amounts in three depository institutions.
Accounts Receivable	Accounts Receivable Accounts receivable represent amounts due from customers for which revenue has been recognized. Generally, the Company does not require collateral or any other security to support its receivables. Accounts receivable is presented net of the Company’s allowance for doubtful accounts. The allowance for credit losses is calculated based on the Company’s current expectations for credit losses, which is generally informed by historical trends. The Company’s policy to reserve for potential bad debts based on the age of the individual receivable and the character of the customer, as well as customer-specific qualitative factors, such as bankruptcy proceedings. The Company manages credit risk by routinely performing credit checks on customers prior to sales. Individual receivables are written-off after all reasonable efforts to collect the funds have been made. Actual write-offs may differ from the amounts reserved.
Inventory	Inventory Inventory is valued at the lower of cost or net realizable value. Costs of inventory sold are recognized using the first–in, first-out (“ FIFO ”) method. Inventory is tracked through raw material, work-in-process, and finished goods stages as the product progresses through various production steps and stocking locations. Labor and overhead costs are absorbed through the various production processes up to when the work order closes. Historical yields and normal capacities are utilized in the calculation of production overhead rates. Inventory is written down to the lower of cost or net realizable value to reflect slow-moving inventory as well as inventory no longer needed due to diminished demand or regulatory action.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost and depreciated on a straight-line method over their estimated useful lives, principally three
Asset Retirement Obligations	Asset Retirement Obligations The Company records obligations associated with the legal requirement to retire long-lived assets when an estimate for the cost of retirement can reasonably be made. The Company reviews legal obligations associated with the retirement of long-lived assets that result from contractual obligations or the acquisition, construction, development and/or normal use of the assets. If it is determined that a legal obligation exists, regardless of whether the obligation is conditional on a future event, the fair value of the liability for an asset retirement obligation is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The fair value is calculated as the estimate of the expected cash outflow to satisfy the legal obligation discounted to present value using the Company’s then-prevailing incremental borrowing rate. At such point in time, an asset and liability are recorded for the amount of the expected liability. The asset amount is depreciated, straight-line, over the life of the underlying asset, while the liability is accreted to the amount of the expected outflow through selling, general and administrative expense using the effective interest method. Subsequent revisions to estimates for future cash flows related to the asset retirement obligations are recorded as equal increases or decreases to the retirement asset and liability.
Intangible Assets, Net	Intangible Assets, Net Intangible assets are assets which lack physical substance and (a) grant the Company with a legal right or (b) are capable of being separated and sold. Intangible assets acquired outside of a business combination are capitalized based on the cost to acquire the assets, allocated pro rata based on the fair value of the individual assets acquired. Any contingent consideration issued in connection with the acquisition of assets is capitalized at the time at which all contingencies regarding its payment are resolved. The Company amortizes the capitalized cost of finite-lived intangible assets over a period generally reflective of the anticipated contributions to cash flow generation. Amortization of intangible assets is recorded as part of cost of sales or operating expenses in the consolidated statements of operations depending on the nature of the underlying intangible asset and its use in the Company’s operations.
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company evaluates the recoverability of its long-lived assets (property, equipment, right of use, and intangible assets with finite lives) whenever adverse events or changes in business climate indicate that the expected undiscounted future cash flows from the related assets may be less than their carrying amounts. When a situation arises which results in a conclusion that it is more likely than not that an asset is not recoverable, the Company estimates cash flows expected to be derived from the continuing use and eventual disposition of the asset. If the sum of those undiscounted cash flows does not exceed the net book value of the asset, the Company estimates the fair value of the asset. Impairment loss is recorded to the extent that the net book value exceeds the fair value of the asset.
Goodwill and Indefinite-lived Intangible Assets	Goodwill and Indefinite-lived Intangible Assets The Company assesses goodwill for impairment at least annually on October 1 and more frequently whenever events or substantive changes in circumstances indicate that it is more likely than not that goodwill is impaired. In performing the goodwill impairment test, the Company first assesses qualitative factors to determine the existence of impairment. If the qualitative factors indicate that the carrying value of a reporting unit exceeds its fair value, the Company proceeds to a quantitative test to measure the existence and amount, if any, of goodwill impairment. The Company may also choose to bypass the qualitative assessment and proceed directly to the quantitative test. In performing the quantitative test, impairment loss is recorded to the extent that the carrying value of the reporting unit exceeds its assessed fair value. The Company determines the fair value of reporting units using the income and market approaches, as applicable. Under the income approach, the fair value of a reporting unit is the present value of its future cash flows as viewed from the lens of a hypothetical market participant in an orderly transaction. These future cash flows are derived from expectations of revenue, expenses, tax deductions and credits, working capital flows, capital expenditures, and other projected sources and uses of cash, as applicable. Value indications are developed by discounting expected cash flows to their present value using a discount rate commensurate with the risks associated with the reporting unit subject to testing. Under the market approach, the Company uses market multiples derived from various comparable companies based on measures salient to investors in those companies. Impairment loss is recorded to the extent the carrying value of a reporting unit exceeds the fair value. No impairment loss is recognized if the fair value of the reporting unit exceeds the carrying value.
Patent Costs	Patent Costs
Leases	Leases The Company determines if a contract is, or contains, a lease at inception. Leases provide the Company with the right to control an underlying asset for a contractual term, subject to certain renewal and other rights, in exchange for a series of stipulated cash flows. Right of use (“ ROU ”) assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company calculates the present value of lease payments by discounting the lease payments using the Company’s incremental borrowing rate for a collateralized or secured borrowing over a term equivalent to that of the lease. Lease payments that vary according to an index or rate are measured using the index or rate at lease inception. The lease term and applicable payments include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. This determination is reassessed as new information arises and is accounted for prospectively. As an accounting policy election, the Company does not capitalize leases having initial terms of 12 months or fewer. The Company has made an accounting policy election not to separate lease components from non-lease components in the event that the agreement contains both. Modifications to existing leases are recognized on the modification date. In such cases, the lease liability is remeasured based on the estimated present value of lease payments from the modification date. The difference between the lease liability immediately before and immediately after lease modification is reflected as an equal and offsetting adjustment to the associated ROU asset. Operating lease right of use assets and the related liabilities are included in right of use asset, other current liabilities, and other liabilities, respectively, in the consolidated balance sheets. Lease expense associated with operating leases is recognized, straight-line, over the lease term. The Company does not recognize interest expense from operating lease liabilities. Finance lease right of use assets and the related liabilities are included in property and equipment, net, other current liabilities, and other liabilities, respectively, in the consolidated balance sheets. Finance lease right of use assets are amortized, straight-line, over the lease term as depreciation expense. Interest expense is recognized using the effective interest method on finance lease liabilities as part of interest expense, net.
Treasury Stock	Treasury Stock Except for shares retired by the Company upon repurchase, shares repurchased by the Company are recorded as treasury stock at the cost to acquire such shares. Subsequent issuances of shares held in treasury are assumed to be released on a FIFO basis. During 2024, all shares repurchased were retired.
Contingencies	Contingencies The Company is or has been subject to various patent challenges, product liability claims, government investigations, former employee matters, and other legal proceedings. See Note 18, Commitments and Contingencies , for discussion of material matters. Legal fees and other expenses related to litigation are expensed as incurred and included in selling, general and administrative expenses or investigation, restatement and related expenses in the consolidated statements of operations, depending on the nature of the matter. The Company records an accrual for resolution costs and other contingencies in the consolidated financial statements when the Company determines that a loss is both probable and reasonably estimable. Subsequent revisions to the Company’s accrual are made as new information emerges and are accounted for prospectively. The Company discloses all ongoing legal matters for which a loss is reasonably possible, regardless of whether an estimate can be reasonably determined. Due to the fact that legal proceedings and other contingencies are inherently unpredictable, the Company’s estimates of the probability and amount of any such liabilities involve significant judgment regarding future events. The actual costs of resolving a claim may be substantially different from the amount of reserve the Company recorded. The Company records a receivable from its insurance carriers only when the resolution of any dispute has been reached and realization of the amounts equal to the potential claim for recovery is considered probable. Any recovery of an amount in excess of the related recorded contingent loss will be recognized only when all contingencies relating to recovery have been resolved.
Revenue Recognition	Revenue Recognition The Company sells its products primarily to individual customers and independent distributors (collectively referred to as “ customers ”). Customers obtain and use products either through ship and bill sales or consignment arrangements. Under ship and bill arrangements, the Company retains possession of the product until the customer submits an order. Upon approval of the sales order, the Company ships product to the customer and invoices them for the product sold. Under consignment arrangements, the customer takes possession of the product, but the Company retains title until the implantation or application of the Company’s product to the end user. The Company recognizes revenue as performance obligations are fulfilled, which generally occurs upon the shipment of product to the customers for ship and bill orders or upon implantation for consignment sales. Revenue is recognized based on the consideration the Company expects to receive from the sale. This consists of the gross selling price of the product, less any discounts, rebates or other amounts paid to customers, fees paid to Group Purchasing Organizations (“ GPOs ”), and returns (collectively, “ deductions ” or “ sales deductions ”). Gross selling price is a standard set by the Company for all customers unless a contract governing the sale provides for a specified price. Sales deductions are specified in individual contracts with customers. The Company estimates the total sales deductions which a specific customer will achieve over the relevant term and applies the reduction to sales as they are made throughout the period. Sales deductions owed to customers and other parties are accrued and recorded in accrued expenses on the consolidated balance sheets. The Company acts as the principal in all of its customer arrangements and records revenue on a gross basis. Shipping is considered immaterial in the context of the overall customer arrangement, and damages or loss of goods in transit are rare. Therefore, shipping is not deemed a separately recognized performance obligation and the Company has elected to treat shipping costs as activities to fulfill the promise to transfer the product. The Company maintains a returns policy that allows its customers to return product that is damaged or non-conforming, ordered in error, or due to a recall. The estimate of the provision for returns is based upon historical experience with actual returns. The Company’s payment terms for customers are typically 30 to 60 days from receipt of title of the goods. Cost of Sales Cost of sales includes all costs directly related to bringing the Company’s products to their final selling destination. Amounts include direct and indirect costs to manufacture products including raw materials, personnel costs and direct overhead expenses necessary to convert collected tissues into finished goods, costs to acquire product from third-party manufacturers, product testing costs, quality assurance costs, facility costs associated with the Company’s manufacturing and warehouse facilities, including depreciation, freight charges, costs to operate equipment and other shipping and handling costs for products shipped to customers. The Company obtains raw material in the form of human placenta donations from participating mothers who give birth via scheduled Caesarean section.
Research and Development Costs	Research and Development Costs Research and development costs consist of direct and indirect costs associated with the development of the Company’s technologies. Historically, these expenses largely represented costs associated with our clinical trials, but now largely represent costs associated with new product development and pilot production. These costs are expensed as incurred.
Advertising expense	Advertising expense
Income Taxes	Income Taxes Income tax provision, deferred tax assets and liabilities, and liabilities for unrecognized tax benefits reflect management’s best assessment of estimated current and future taxes to be paid. The Company is subject to income taxes in the United States and numerous states. Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. The Company recognizes deferred tax assets to the extent that it believes these assets are more likely than not to be realized. The Company evaluates the realizability of its deferred tax assets quarterly. In evaluating the Company’s ability to recover its deferred tax assets within the jurisdiction from which they arise, management considers all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax-planning strategies, results of recent operations, and changes in tax laws. In projecting future taxable income, the Company begins with historical results and incorporates assumptions about the amount of future state and federal pretax operating income adjusted for items that do not have tax consequences. The assumptions about future taxable income require significant judgment and are consistent with the plans and estimates the Company uses to manage the underlying business. In evaluating the objective evidence that historical results provide, management considers three years of cumulative income (loss) exclusive of items that will not recur, such as discontinued operations. The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the tax provision (benefit) in the period that includes the enactment date. The calculation of income tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations both for U.S. federal income tax purposes and across numerous state jurisdictions. Accounting Standards Codification (“ ASC ”) Topic 740, Income Taxes , states that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of the technical merits. The Company records unrecognized tax benefits within other current liabilities on the consolidated balance sheets and adjusts these liabilities when management’s judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from management’s current estimate of the unrecognized tax benefit liabilities. These differences will be reflected as increases or decreases to the deferred tax asset or income tax expense in the period in which new information is available. The Company records uncertain tax positions on the basis of a two-step process whereby (1) it determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (2) for those tax positions that meet the more-likely-than-not recognition threshold, it recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the consolidated statements of operations. Accrued interest and penalties, if any, are included within the other liabilities line in the consolidated balance sheets and recorded as a component of income tax expense.
Share-based Compensation	Share-based Compensation The Company grants share-based awards to employees and members of the Company’s Board of Directors (the “ Board ”). Awards to employees and the Board are generally made annually. Grants are issued outside of the annual cadence for certain new hires, promotions, and other events. The Company has two share-based compensation plans which provide for the granting of equity awards, including qualified incentive and non-qualified stock options and restricted stock awards. The Company has three types of awards to employees and directors: restricted stock units (“ RSUs ’), performance stock units (“ PSUs ”), and stock options. The amount of expense to be recognized is determined by the fair value of the award using inputs available as of the grant date. The basis of fair value for RSUs and PSUs is the closing stock price on the date of the grant. The fair value of stock options is determined based on an appropriate option pricing model using inputs available as of the grant date, generally using a Black-Scholes model. In each case, the fair value is adjusted for the presence of a market condition using an appropriate pricing model. For awards with service-based vesting conditions only, the Company recognizes the grant date fair value as share-based compensation expense on a straight-line basis through the vesting date of the last tranche of the award. For awards which are subject to a condition other than a service condition, the Company recognizes stock-based compensation expense using the graded-vesting method, treating each tranche as if it were a separately-granted award and recognizing expense through the vesting date of each individual tranche. In each case, the Company recognizes share-based compensation expense to the extent that vesting is “probable”. The Company recognizes the cumulative effect of changes in the probability outcomes in the period in which the changes occur. The resolution of a market condition is not subsequently considered in expense recognition. Consequently, the Company could recognize expense for awards that do not ultimately vest.
Basic and Diluted Net Income (Loss) per Common Share	Basic and Diluted Net Income (Loss) per Common Share Basic net income (loss) per common share is calculated as net income (loss) from continuing operations available to common stockholders divided by weighted average common shares outstanding for the applicable period. Net income (loss) from continuing operations available to common stockholders is calculated by adjusting net income (loss) for dividends on the Company’s historical Series B Convertible Preferred Stock (“ Series B Preferred Stock ”), which fully converted during 2023. This amount is divided by the weighted average common shares outstanding during the period. Weighted average common shares outstanding is calculated as shares of the Company outstanding adjusted for the portion of the period for which they are outstanding. Unvested non-option share awards are excluded from the calculation of weighted average common shares outstanding until they have vested. Unexercised stock options are excluded from the calculation of weighted average common shares outstanding until they are exercised. Shares issuable pursuant to the Company’s Employee Stock Purchase Plan (“ ESPP ”) are included for the minimum number of shares issuable beginning at the point in time that all contingencies for share issuance are resolved. Diluted net income (loss) per common share adjusts basic net income (loss) per common share for convertible securities, options, equity incentive awards, and other share-based payment awards which have yet to vest and vest only upon the satisfaction of a service condition. Equity incentive awards and options that are subject to a performance or market condition are included only if the performance or market condition would be satisfied if the end of the applicable period were the end of the performance period. In any case, these adjustments are reflected in the calculation of diluted net income (loss) per common share to the extent that they reduce basic net income (loss) from continuing operations per common share. Basic and diluted net income (loss) per common share from discontinued operations are evaluated using the same denominator as basic and diluted net income (loss) per common share from continued operations even if the dilutive adjustments are antidilutive to that calculation. The Company used the if-converted method to calculate the dilutive effect of the Series B Preferred Stock. The if-converted method assumes that convertible securities are converted at the later of the issuance date and the beginning of the period. If the hypothetical conversion of convertible securities, and the consequential avoidance of any accumulated preferred dividends, would decrease basic net income (loss) from continuing operations per common share, these effects are incorporated in the calculation of diluted net income (loss) from continuing operations per common share, adjusted for the portion of the period the securities were outstanding. The Company uses the treasury stock method to calculate the dilutive effect of options, non-option share awards, and certain other share-based payments. The treasury stock method assumes that the proceeds from exercise are used to repurchase common shares at the weighted average market price during the period, increasing the denominator for the net effect of shares issued upon exercise less hypothetical shares repurchased.
Fair Value of Financial Instruments and Fair Value Measurements	Fair Value of Financial Instruments and Fair Value Measurements The respective carrying value of certain on-balance sheet financial instruments approximated their fair values due to the short-term nature and type of these instruments. These financial instruments include cash and cash equivalents, accounts receivable, notes receivable, and certain other financial assets and liabilities. The Company measures certain non-financial assets at fair value on a non-recurring basis. These non-recurring valuations include evaluating assets such as long-lived assets, and non-amortizing intangible assets for impairment, allocating value to assets in an acquired asset group, and accounting for business combinations. The Company uses the fair value measurement framework to value these assets and reports these fair values in the periods in which they are recorded or written down. Fair value financial instruments are recorded in accordance with the fair value measurement framework. The fair value measurement framework includes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair values in their broad levels. These levels from highest to lowest priority are as follows: • Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: Quoted prices in active markets for similar assets or liabilities or observable prices that are based on inputs not quoted on active markets, but corroborated by market data. • Level 3: Unobservable inputs or valuation techniques that are used when little or no market data is available. The determination of fair value and the assessment of a measurement’s placement within the hierarchy require judgment. Level 3 valuations often involve a higher degree of judgment and complexity. Level 3 valuations may require the use of various valuation methodologies which incorporate unobservable inputs, management estimates, and assumptions. Management’s assumptions could vary depending on the asset or liability valued and the valuation method used. Such assumptions could include: estimates of prices, earnings, costs, actions of market participants, market factors, or the weighting of various valuation methods. The Company may also engage external advisors to assist it in determining fair value, as appropriate. Although the Company believes that the recorded fair value of its financial instruments is appropriate, these fair values may not be indicative of net realizable value or reflective of future fair values.
Government Assistance	Government Assistance The Company receives benefits from various government entities for various purposes from time to time. With respect to any benefits that are not dependent on income (which are subject to the policy described under Income Taxes , above), the Company recognizes such benefits at the point in time in which all barriers to receive the assistance have been overcome in an amount equal to the expected benefit. Benefits are reflected in the consolidated statements of operations in the line item to which the associated benefit relates.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting: Improvements to Reportable Segment Disclosures (Topic 280) ”. The standard seeks to improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. ASU 2023-07 is effective for annual reporting periods beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. As of December 31, 2024, the Company adopted this standard. Refer to Note 13, Segment Information, for further discussion. Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, “ Improvement to Income Tax Disclosures (Topic 740) ”, which requires additional disclosures for income tax rate reconciliations, income taxes paid, and certain other tax disclosures. ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. Adoption is required for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of this standard on its consolidated financial statements.. In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)” , which requires disclosure of specified information about certain costs and expenses. The amendments in ASU 2024-03 are intended to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to the financial statements. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements. ASUs issued and not yet effective as of December 31, 2024, and through the date of this report, were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s current and future financial position or results of operations.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable, net, consists of the following (in thousands): December 31, 2024 2023 Accounts receivable, gross $ 58,960 $ 57,015 Allowance for doubtful accounts (3,132) (3,144) Accounts receivable, net $ 55,828 $ 53,871
Schedule of Activity Related to the Allowance for Doubtful Accounts	Activity related to the Company’s allowance for doubtful accounts during the year ended December 31, 2024 was as follows (in thousands): Allowance for Doubtful Accounts Balance at December 31, 2022 $ 3,783 Bad debt expense 1,449 Write-offs (2,088) Balance at December 31, 2023 $ 3,144 Bad debt expense 595 Write-offs (607) Balance at December 31, 2024 $ 3,132

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): December 31, 2024 2023 Raw materials $ 1,010 $ 825 Work in process 8,580 8,521 Finished goods 14,217 11,675 Inventory $ 23,807 $ 21,021

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consists of the following (in thousands): December 31, 2024 2023 Lab and clean room equipment $ 15,549 $ 13,954 Furniture and office equipment 1,951 1,989 Leasehold improvements 8,213 8,141 Construction in progress 686 1,791 Asset retirement cost 867 938 Finance lease assets — 189 Property and equipment, gross 27,266 27,002 Less: accumulated depreciation and amortization (21,322) (20,028) Property and equipment, net of accumulated depreciation and amortization $ 5,944 $ 6,974
Schedule of Depreciation Expense	Depreciation expense for each of the years ended December 31, 2024, 2023, and 2022 was recorded in certain captions of the consolidated statements of operations for those periods in the amounts shown in the table below (in thousands): Year Ended December 31, 2024 2023 2022 Cost of sales $ 1,408 $ 1,569 $ 1,816 Selling, general, and administrative expense 544 795 1,243 Research and development expense 327 301 286 Total $ 2,279 $ 2,665 $ 3,345

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to the Company’s leases, including the financial statement caption in which the amounts are presented, is as follows (amounts in thousands, except lease term and discount rate): Operating Leases Finance Leases December 31, December 31, 2024 2023 2023 Assets Right of use asset $ 5,606 $ 2,132 $ — Property and equipment, net — — 51 Total assets $ 5,606 $ 2,132 $ 51 Liabilities Other current liabilities $ 1,307 $ 1,495 $ 53 Other liabilities 4,705 893 5 Total liabilities $ 6,012 $ 2,388 $ 58 Weighted-average remaining lease term (years) 4.3 2.0 1.1 Weighted-average discount rate 6.9 % 8.3 % 8.3 %
Schedule of Lease Costs	Information related to lease costs are as follows (amounts in thousands): Year Ended December 31, 2024 2023 2022 Operating lease cost $ 1,478 $ 1,532 $ 1,620 Amortization of finance lease ROU assets 51 47 47 Interest expense on finance lease liabilities 2 7 10
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities are as follows (amounts in thousands): Year Ending December 31, Operating Leases 2025 $ 1,671 2026 1,725 2027 1,355 2028 1,346 2029 794 Thereafter — Total lease payments 6,891 Less: imputed interest (879) Lease liability $ 6,012

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The following table indicates the changes in the carrying amount of goodwill for 2024 and 2023 (in thousands): Goodwill Balance as of January 1, 2023 $ 19,441 Activity — Balance as of December 31, 2023 $ 19,441 Activity — Balance as of December 31, 2024 $ 19,441
Schedule of Intangible Assets Net	Intangible assets, net, are summarized as follows (in thousands): December 31, 2024 December 31, 2023 Gross Carrying Amount Accumulated amortization Net Carrying Amount Gross Carrying Amount Accumulated amortization Net Carrying Amount Amortized intangible assets Patents and know-how $ 10,320 $ (8,488) $ 1,832 $ 10,039 $ (7,818) $ 2,221 Customer and supplier relationships 7,659 (1,147) 6,512 — — — Tradenames and trademarks 2,937 (1,850) 1,087 — — — Licenses 1,000 (104) 896 1,000 (54) 946 Total amortized intangible assets $ 21,916 $ (11,589) $ 10,327 $ 11,039 $ (7,872) $ 3,167 Unamortized intangible assets Tradenames and trademarks $ 1,008 $ 1,008 $ 1,008 $ 1,008 Patents in process 291 291 1,082 1,082 Total intangible assets $ 23,215 $ 11,626 $ 13,129 $ 5,257
Schedule of Finite-Lived Intangible Assets	Intangible assets, net, are summarized as follows (in thousands): December 31, 2024 December 31, 2023 Gross Carrying Amount Accumulated amortization Net Carrying Amount Gross Carrying Amount Accumulated amortization Net Carrying Amount Amortized intangible assets Patents and know-how $ 10,320 $ (8,488) $ 1,832 $ 10,039 $ (7,818) $ 2,221 Customer and supplier relationships 7,659 (1,147) 6,512 — — — Tradenames and trademarks 2,937 (1,850) 1,087 — — — Licenses 1,000 (104) 896 1,000 (54) 946 Total amortized intangible assets $ 21,916 $ (11,589) $ 10,327 $ 11,039 $ (7,872) $ 3,167 Unamortized intangible assets Tradenames and trademarks $ 1,008 $ 1,008 $ 1,008 $ 1,008 Patents in process 291 291 1,082 1,082 Total intangible assets $ 23,215 $ 11,626 $ 13,129 $ 5,257
Schedule of Amortization and Impairment Expense	Amortization expense and impairment expense for the years ended December 31, 2024, 2023, and 2022, is summarized in the table below (amounts in thousands): Year ended December 31, 2024 2023 2022 Amortization of intangible assets Cost of sales $ 2,997 $ — $ — Operating expense 765 762 701 Total amortization of intangible assets $ 3,762 $ 762 $ 701 Impairment of intangible assets $ 446 $ — $ —
Schedule of Estimated Future Amortization Expense of Intangible Assets	Expected future amortization of intangible assets as of December 31, 2024, is as follows (in thousands): Estimated Amortization Year Ending December 31, Expense 2025 $ 3,008 2026 1,766 2027 1,765 2028 1,763 2029 607 Thereafter 1,418 Total amortization expense $ 10,327

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consist of the following (in thousands): December 31, 2024 2023 External commissions $ 3,843 $ 4,136 Accrued GPO Fees 411 1,338 Estimated returns 1,990 1,096 Legal costs 459 834 Accrued rebates 1,223 745 Accrued inventory receipts 871 174 Other 215 1,038 Total $ 9,012 $ 9,361

Long Term Debt (Tables)

Long Term Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Original Discount and Deferred Financing Costs	The allocation of the deferred financing costs and original issue discount between the Term Loan Facility and the Revolving Credit Facility were as follows (in thousands): January 19, 2024 Term Loan Facility Revolving Credit Facility Total Long term debt, net Other assets Original issue discount $ 224 $ 839 $ 1,063 Deferred financing costs 54 202 256
Schedule of Extinguishment of Debt	The composition of the loss on extinguishment of debt was as follows (amounts in thousands): January 19, 2024 Unamortized deferred financing costs $ 781 Unamortized original issue discount 120 Prepayment premium 500 Loss on extinguishment of debt $ 1,401
Schedule of the Balances of the Loan Facility and Agreement	The balances of the Term Loan Facility as of December 31, 2024 and the Hayfin Term Loan as of December 31, 2023 were as follows (amounts in thousands): December 31, 2024 December 31, 2023 Current portion of long term debt Long term debt, net Current portion of long term debt Long term debt, net Outstanding principal $ 1,000 $ 18,000 $ 1,000 $ 49,000 Deferred financing costs — (33) — (781) Original issue discount — (137) — (120) Total $ 1,000 $ 17,830 $ 1,000 $ 48,099
Schedule of Interest Expense	Interest expense related to the Term Loan Facility and the Hayfin Term Loan included in interest expense, net in the consolidated statements of operations, was as follows (amounts in thousands): Year Ended December 31, 2024 2023 2022 Stated interest $ 1,797 $ 6,078 $ 4,559 Amortization of deferred financing costs 47 438 405 Accretion of original issue discount 91 67 62 Interest expense $ 1,935 $ 6,583 $ 5,026 Interest expense related to the Revolving Credit Facility included in interest expense, net in the consolidated statements of operations, was as follows (amounts in thousands): Year Ended December 31, 2024 Commitment fee $ 178 Amortization of deferred financing costs 63 Accretion of original issue discount 168 Interest expense $ 409
Schedule of Principal Payments for the Term Loan Facility	Scheduled principal payments due on the Term Loan Facility, by year, as of December 31, 2024 through maturity are as follows (in thousands): Year ending December 31, Principal 2025 $ 1,000 2026 1,500 2027 1,500 2028 2,000 2029 13,000 Thereafter — Long term debt $ 19,000

Basic and Diluted Net Loss Pe_2

Basic and Diluted Net Loss Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic Net Loss Per Common Share	The following table provides a reconciliation of net loss to net loss available to common shareholders and calculation of basic net loss per common share for each of the years ended December 31, 2024, 2023, and 2022 (amounts in thousands, except share and per-share amounts): Year ended December 31, 2024 2023 2022 Net income (loss) from continuing operations $ 41,998 $ 67,439 $ (19,953) Income (loss) from discontinued operations, net of tax 421 (9,211) (10,244) Net income (loss) 42,419 58,228 (30,197) Adjustments to reconcile to net loss available to common stockholders: Accumulated dividend on previously converted Series B Preferred Stock — 6,753 6,580 Preferred share repurchase in excess of book value — 4,890 — Total adjustments — 11,643 6,580 Net income (loss) available to common stockholders from continuing operations $ 41,998 $ 55,796 $ (26,533) Weighted average common shares outstanding 146,979,354 116,495,810 112,909,266 Basic net income (loss) per common share: Continuing operations $ 0.29 $ 0.48 $ (0.24) Discontinued operations 0.00 (0.08) (0.09) Basic net income (loss) per common share $ 0.29 $ 0.40 $ (0.33)
Schedule of Diluted Net Loss Per Common Share	The following table sets forth the computation of diluted net loss per common share (in thousands, except share and per-share amounts): Year ended December 31, 2024 2023 2022 Net income (loss) available to common stockholders from continuing operations $ 41,998 $ 55,796 $ (26,533) Adjustments: Dividends on previously converted Series B Preferred Stock — 6,466 6,580 Preferred share repurchase in excess of book value — 5,177 — Less: antidilutive adjustments — (5,177) (6,580) Total adjustments — 6,466 — Numerator Net income (loss) available to common stockholders from continuing operations 41,998 62,262 (26,533) Income (loss) from discontinued operations, net of tax 421 (9,211) (10,244) Weighted average common shares outstanding 146,979,354 116,495,810 112,909,266 Adjustments: Potential common shares (a) Previously converted Series B Preferred Stock — 27,457,905 — Restricted stock unit awards 1,447,217 1,452,153 — Outstanding stock options 473,015 396,779 — Performance stock unit awards 149,611 137,425 — Restricted stock awards — 22,136 — Employee stock purchase plan — 254 — Total adjustments 2,069,843 29,466,652 — Weighted average common shares outstanding adjusted for potential common shares 149,049,197 145,962,462 112,909,266 Diluted net income (loss) per common share: Continuing operations $ 0.28 $ 0.43 $ (0.24) Discontinued operations 0.00 (0.06) (0.09) Diluted net income (loss) per common share $ 0.28 $ 0.37 $ (0.33) (a) Weighted average common shares outstanding for the calculation of diluted net loss per common share does not include the following adjustments for potential common shares below because their effects were determined to be anti-dilutive for the periods presented:
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Year ended December 31, 2024 2023 2022 Series B Preferred Stock — 1,219,348 27,850,916 Restricted stock unit awards — — 546,883 Restricted stock awards — — 217,971 Outstanding stock options — — 65,720 Performance stock unit awards — — 5,251 Employee stock purchase plan — — 18,852 Potential common shares — 1,219,348 28,705,593

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Series B Preferred Stock	The below table illustrates changes in the Company’s balance of the Series B Preferred Stock for the year ended December 31, 2023. (in thousands, except per share amounts): Series B Preferred Stock Shares Amount Balance at December 31, 2022 100,000 $ 92,494 Repurchase of Series B Preferred Stock (5,000) (4,625) Conversion of Series B Preferred Stock (95,000) (87,869) Balance at December 31, 2023 — $ —
Schedule of Recognized of Share-Based Compensation	A summary of share-based compensation expense recognized for each of the years ended December 31, 2024, 2023, and 2022 is as follows (in thousands): Year Ended December 31, 2024 2023 2022 Cost of sales $ 1,546 $ 1,533 $ 1,213 Selling, general and administrative 14,646 14,776 9,578 Research and development 741 650 537 Total share-based compensation 16,933 16,959 11,328 Income tax benefit, before consideration of valuation allowance (4,233) (4,240) (2,832) Total share-based compensation, net of tax benefit $ 12,700 $ 12,719 $ 8,496
Schedule of Stock Options Activity	A summary of stock option activity for the year ended December 31, 2024 is presented below: Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2024 4,042,520 $ 4.06 Granted 344,026 8.63 Exercised (207,686) 6.79 Unvested options forfeited — — Vested options expired (123,334) 7.17 Outstanding at December 31, 2024 4,055,526 4.21 5.16 21,952 Exercisable at December 31, 2024 341,000 $ 4.21 4.87 $ 1,851
Schedule of Equity Incentive Award	A summary of RSU activity for the year ended December 31, 2024 is presented below: Number of Weighted-Average Grant Date Unvested at January 1, 2024 3,908,739 $ 5.38 Granted 2,046,126 8.11 Vested (1,803,810) 6.06 Forfeited (639,232) 6.29 Unvested at December 31, 2024 3,511,823 $ 6.46 A summary of PSU activity for the year ended December 31, 2024 is presented below: PSU Number of Weighted-Average Grant Date Unvested at January 1, 2024 3,727,272 $ 3.84 Granted 450,532 9.41 Vested — — Forfeited — — Unvested at December 31, 2024 4,177,804 $ 4.44
Schedule of Fair Value Assumptions	The below table reflects the material inputs used to value the options granted during those periods (exclusive of the CEO Performance Option). Year ended December 31, 2024 2023 Stock price on grant date $ 8.63 $ 6.44 Exercise price $ 8.63 $ 6.44 Expected term (years) 4.75 4.75 Risk-free interest rate 4.2 % 4.3 % Expected volatility (annualized) 66 % 77 % Dividend yield — % — % Weighted average grant date fair value $ 4.93 $ 4.10 The Company estimated the fair value of the awards using a Monte Carlo simulation using the following assumptions: Assumption Stock price on grant date $ 3.70 Exercise price $ 3.70 Risk-free interest rate 3.6 % Expected volatility (annualized) 75 % Dividend yield — % Weighted average grant date fair value $ 1.93

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Below is a summary of net sales by product line (in thousands): Year Ended December 31, 2024 2023 2022 Wound $ 231,004 $ 205,660 $ 175,970 Surgical 117,875 115,817 91,871 Total $ 348,879 $ 321,477 $ 267,841 Below is a summary of net sales by site of service (in thousands): Year Ended December 31, 2024 2023 2022 Hospital $ 187,440 $ 187,000 $ 163,206 Private Office 112,388 95,789 77,158 Other 49,051 38,688 27,477 Total $ 348,879 $ 321,477 $ 267,841
Schedule of Sales Returns Allowance	Activity related to the Company’s sales returns allowance during the year ended December 31, 2024 was as follows (in thousands): Sales Returns Allowance Balance at December 31, 2022 $ 659 Additions 3,899 Deductions and write-offs (3,462) Balance at December 31, 2023 1,096 Additions 4,314 Deductions and write-offs (3,420) Balance at December 31, 2024 $ 1,990

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Net Sales and Segment Contribution for Each Reportable Segment	The below table presents selling and marketing and general administrative expense for each of the years ended December 31, 2024, 2023, and 2022. Year Ended December 31, 2024 2023 2022 Selling and marketing $ 175,562 $ 161,833 $ 151,227 General and administrative 49,525 49,291 57,446 Selling, general and administrative $ 225,087 $ 211,124 $ 208,673 Below is a breakout of interest expense and interest income for each of the years ended December 31, 2024, 2023, and 2022. Year Ended December 31, 2024 2023 2022 Interest income $ 2,932 $ 118 $ 32 Interest expense (3,938) (6,575) (5,048) Interest expense, net $ (1,006) $ (6,457) $ (5,016)

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets And Liabilities of the Discontinued Operations	The income and expenses of the discontinued operation have been classified as income (loss) from discontinued operations in the consolidated statements of operations as of December 31, 2024, 2023, and 2022 as follows (in thousands): Year Ended December 31, 2024 2023 2022 Selling, general and administrative expense $ (221) $ — $ 116 Research and development expense (200) 8,017 10,128 Restructuring expense — 4,168 — Income tax provision benefit — (2,974) — Income (loss) from discontinued operations $ 421 $ (9,211) $ (10,244) The assets and liabilities of the discontinued operations have been classified as discontinued operations in the consolidated balance sheet as of December 31, 2024 and 2023 as follows (in thousands): December 31, 2024 2023 Current liabilities: Accrued compensation $ — $ 311 Accrued expenses — 1,041 Current liabilities of discontinued operations $ — $ 1,352

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Deferred tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 31, 2024 2023 Deferred Tax Assets: Capitalized research and development expenditures $ 9,970 $ 10,843 Research and development and other tax credits 6,752 8,117 Share-based compensation 3,933 3,266 Net operating loss 3,713 13,712 Accrued expenses 3,038 3,660 Lease liabilities 1,456 600 Allowance for doubtful accounts 778 778 Intangible assets 580 — Sales return and allowances 494 270 Property and equipment 295 84 Interest limitation carry forward — 1,873 Other 155 437 Deferred Tax Liabilities: Prepaid expenses (949) (1,045) Right of use asset (1,392) (571) Interest limitation carry forward (12) — Intangible assets — (337) Net Deferred Tax Assets 28,811 41,687 Less: Valuation allowance (505) (910) Net Deferred Tax Assets after Valuation Allowance $ 28,306 $ 40,777
Schedule of Reconciliation of the Federal Statutory Income Tax	The reconciliation of the federal statutory income tax rate of 21% to the effective rate is as follows: Year ended December 31, 2024 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 4.1 % (21.8) % (0.8) % Nondeductible compensation 1.1 % 1.8 % (3.2) % Deferred tax adjustments 0.9 % 1.3 % (4.4) % Meals and entertainment 0.6 % 1.2 % (0.2) % Uncertain tax positions — % 0.4 % (0.5) % Valuation allowance — % (123.5) % (12.5) % Tax credits (0.7) % (3.2) % 4.9 % Share-based compensation (1.0) % 2.8 % (6.1) % Other 0.7 % (0.2) % 0.6 % Effective tax rate 26.7 % (120.2) % (1.0) %
Schedule of Current and Deferred Income Tax (Benefit) Expense	Current and deferred income tax expense (benefit) is as follows (in thousands): Year Ended December 31, 2024 2023 2022 Current: Federal $ 703 $ 576 $ — State 2,121 422 206 Total current 2,824 998 206 Deferred: Federal 11,626 (31,633) — State 846 (9,144) — Total deferred 12,472 (40,777) — Income tax provision expense (benefit) $ 15,296 $ (39,779) $ 206
Schedule of Reconciliation of Unrecognized Tax Benefits	The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands) included in the consolidated balance sheets: 2024 2023 2022 Unrecognized tax benefits - January 1 $ 807 $ 645 $ 469 Increases - tax positions in current period 53 124 98 Increases - tax positions in prior period — 38 78 Decreases in prior year positions (29) — — Unrecognized tax benefits - December 31 $ 831 $ 807 $ 645

Supplemental Disclosure of Ca_2

Supplemental Disclosure of Cash Flow and Non-Cash Investing and Financing Activities (Tables)	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Selected Cash Payments, Receipts, and Non-Cash Activities	Selected cash payments, receipts, and non-cash activities are as follows (in thousands): Year Ended December 31, 2024 2023 2022 Cash paid for interest $ 2,698 $ 6,034 $ 4,569 Income taxes paid (refunded) 3,247 (548) 181 Cash paid for operating leases 1,618 1,635 1,567 Non-cash activities: Conversion of Series B Preferred Stock — 87,870 — Fair value of shares received in settlement of litigation 9,300 — — Minimum Profit Share Payments pursuant to TELA APA 2,731 — — Issuance of shares pursuant to employee stock purchase plan 1,582 1,367 — Purchases of equipment included in accounts payable — 228 417 Financing costs incurred but not paid for Citizens Financing Transaction — 138 — Legal fees associated with the Repurchase of Series B Preferred Stock — 45 — Lease right of use asset and liability 5,333 — (37) Contingent consideration payable 441 — —

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Estimated Meeting Space Commitments	The estimated meeting space commitments are as follows (in thousands): Year ending December 31, Meeting Space Commitments 2025 $ 237 2026 108 Total $ 345

Significant Accounting Polici_3

Significant Accounting Policies (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2024 USD ($) plan depository_institution segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Market Concentrations and Credit Risk [Line Items]
Current portion of long term debt	$ 1,000	$ 1,000	$ 1,000
Number of reportable segments | segment	1	1
Cash and cash equivalents in excess of the insured amounts	$ 81,300	$ 103,700	81,300
Number of depository institutions | depository_institution		3
Payments to acquire intangible assets		$ 0	200	$ 200
Advertising expense		$ 600	600	$ 200
Number of share-based compensation plans | plan		2
Revision of Prior Period, Reclassification, Adjustment
Market Concentrations and Credit Risk [Line Items]
Current portion of long term debt	$ 1,000		$ 1,000
Minimum
Market Concentrations and Credit Risk [Line Items]
Property and equipment estimated useful life (in years)		3 years
Maximum
Market Concentrations and Credit Risk [Line Items]
Property and equipment estimated useful life (in years)		7 years

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable, gross	$ 58,960	$ 57,015
Allowance for doubtful accounts	(3,132)	(3,144)	$ (3,783)
Accounts receivable, net	$ 55,828	$ 53,871

Accounts Receivable, Net - Sc_2

Accounts Receivable, Net - Schedule of Activity Related to the Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for Doubtful Accounts
Beginning balance	$ 3,144	$ 3,783
Bad debt expense	595	1,449	$ 2,820
Write-offs	(607)	(2,088)
Ending balance	$ 3,132	$ 3,144	$ 3,783

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 1,010	$ 825
Work in process	8,580	8,521
Finished goods	14,217	11,675
Inventory	$ 23,807	$ 21,021

Inventory - Narrative (Details)

Inventory - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Consignment inventory	$ 5.1	$ 4

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property and equipment [Line Items]
Finance lease assets	$ 0	$ 189
Property and equipment, gross	27,266	27,002
Less: accumulated depreciation and amortization	(21,322)	(20,028)
Property and equipment, net of accumulated depreciation and amortization	5,944	6,974
Lab and clean room equipment
Property and equipment [Line Items]
Property and equipment, gross	15,549	13,954
Furniture and office equipment
Property and equipment [Line Items]
Property and equipment, gross	1,951	1,989
Leasehold improvements
Property and equipment [Line Items]
Property and equipment, gross	8,213	8,141
Construction in progress
Property and equipment [Line Items]
Property and equipment, gross	686	1,791
Asset retirement cost
Property and equipment [Line Items]
Property and equipment, gross	$ 867	$ 938

Property and Equipment, Net -_2

Property and Equipment, Net - Schedule of Depreciation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation	$ 2,279	$ 2,665	$ 3,345
Cost of sales
Property, Plant and Equipment [Line Items]
Depreciation	1,408	1,569	1,816
Selling, general, and administrative expense
Property, Plant and Equipment [Line Items]
Depreciation	544	795	1,243
Research and development expense
Property, Plant and Equipment [Line Items]
Depreciation	$ 327	$ 301	$ 286

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
Right of use assets	$ 5,606,000	$ 2,132,000
Other current liabilities	$ 1,307,000	$ 1,495,000
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Other liabilities	$ 4,705,000	$ 893,000
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total liabilities	$ 6,012,000	$ 2,388,000
Operating Lease, Weighted-average remaining lease term (years)	4 years 3 months 18 days	2 years
Operating Lease, Weighted-average discount rate	6.90%	8.30%
Finance Leases
Property and equipment, net		$ 51,000
Other current liabilities		$ 53,000
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Other liabilities		$ 5,000
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total liabilities	$ 0	$ 58,000
Finance Lease, Weighted-average remaining lease term (years)		1 year 1 month 6 days
Finance Lease, Weighted-average discount rate		8.30%

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 1,478	$ 1,532	$ 1,620
Amortization of finance lease ROU assets	51	47	47
Interest expense on finance lease liabilities	$ 2	$ 7	$ 10

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 1,671
2026	1,725
2027	1,355
2028	1,346
2029	794
Thereafter	0
Total lease payments	6,891
Less: imputed interest	(879)
Lease liability	$ 6,012	$ 2,388

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Financing lease obligations	$ 0	$ 58,000
Asset retirement obligations	$ 1,200,000	$ 1,200,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 0	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill, beginning	$ 19,441	$ 19,441
Activity	0	0
Goodwill, ending	$ 19,441	$ 19,441

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Schedule of Intangible Assets Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 21,916	$ 11,039
Accumulated amortization	(11,589)	(7,872)
Total amortization expense	10,327	3,167
Indefinite-lived Intangible Assets [Line Items]
Total intangible assets, gross carrying amount	23,215	13,129
Total intangible assets, net carrying amount	11,626	5,257
Tradenames and trademarks
Indefinite-lived Intangible Assets [Line Items]
Gross carrying value, indefinite lived	1,008	1,008
Patents in process
Indefinite-lived Intangible Assets [Line Items]
Gross carrying value, indefinite lived	291	1,082
Patents and know-how
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,320	10,039
Accumulated amortization	(8,488)	(7,818)
Total amortization expense	1,832	2,221
Customer and supplier relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	7,659	0
Accumulated amortization	(1,147)	0
Total amortization expense	6,512	0
Tradenames and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,937	0
Accumulated amortization	(1,850)	0
Total amortization expense	1,087	0
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,000	1,000
Accumulated amortization	(104)	(54)
Total amortization expense	$ 896	$ 946

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net - Schedule of Amortization and Impairment Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Cost of sales	$ 2,997	$ 0	$ 0
Operating expense	765	762	701
Total amortization of intangible assets	3,762	762	701
Impairment of intangible assets	$ 446	$ 0	$ 0

Goodwill and Intangible Asset_7

Goodwill and Intangible Assets, Net - Schedule of Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 3,008
2026	1,766
2027	1,765
2028	1,763
2029	607
Thereafter	1,418
Total amortization expense	$ 10,327	$ 3,167

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
External commissions	$ 3,843	$ 4,136
Accrued GPO Fees	411	1,338
Estimated returns	1,990	1,096
Legal costs	459	834
Accrued rebates	1,223	745
Accrued inventory receipts	871	174
Other	215	1,038
Total	$ 9,012	$ 9,361

Long Term Debt - Narrative (Det

Long Term Debt - Narrative (Details)				1 Months Ended	12 Months Ended
	Feb. 27, 2024	Jan. 19, 2024 USD ($) term_loan	May 31, 2023	Feb. 29, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2020 USD ($)
Debt Instrument [Line Items]
Proceeds from revolving credit facility					$ 30,000,000	$ 0	$ 0
Proceeds from term loan					19,783,000	0	0
Repayments of term loan					50,000,000	0	0
Loss on extinguishment of debt		$ 1,401,000			1,401,000	0	0
Repayments of initial line of credit draw					30,000,000	$ 0	$ 0
Principal repayments					1,000,000
Line of Credit | Term Loan Facility | SOFR | Hayfin Loan Agreement Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			0.15%
Citizens Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 95,000,000
Citizens Credit Agreement | Line of Credit | SOFR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		2.25%
Citizens Credit Agreement | Line of Credit | SOFR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		3.50%
Citizens Credit Agreement | Line of Credit | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		1.25%
Citizens Credit Agreement | Line of Credit | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		2.50%
Citizens Credit Agreement | Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 10,000,000
Citizens Credit Agreement | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		75,000,000
Line of credit facility, optional increase		$ 50,000,000
Line of credit facility, optional increase, EBITDA multiplier		1
Proceeds from revolving credit facility		$ 30,000,000
Repayments of initial line of credit draw				$ 30,000,000
Undrawn commitment fee percentage	0.25%
Citizens Credit Agreement | Line of Credit | Bridge Loan
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 10,000,000
Citizens Credit Agreement | Line of Credit | Bridge Loan | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		0.10%
Citizens Credit Agreement | Line of Credit | Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 20,000,000
Options to obtain incremental term loan, number | term_loan		1
Proceeds from term loan		$ 20,000,000
Fair value of term loan					18,700,000
Citizens Credit Agreement | Line of Credit | Term Loan Facility | Debt Amortization, Year One
Debt Instrument [Line Items]
Interest rate		1.25%
Citizens Credit Agreement | Line of Credit | Term Loan Facility | Debt Amortization, Year Two
Debt Instrument [Line Items]
Interest rate		1.25%
Citizens Credit Agreement | Line of Credit | Term Loan Facility | Debt Amortization, Year Three
Debt Instrument [Line Items]
Interest rate		1.88%
Citizens Credit Agreement | Line of Credit | Term Loan Facility | Debt Amortization, Year Four
Debt Instrument [Line Items]
Interest rate		1.88%
Citizens Credit Agreement | Line of Credit | Term Loan Facility | Debt Amortization, Year Five
Debt Instrument [Line Items]
Interest rate		2.50%
Hayfin Loan Agreement Term Loan | Line of Credit | Term Loan Facility
Debt Instrument [Line Items]
Repayments of term loan		$ 50,000,000
Face value of debt								$ 50,000,000
Principal repayments					$ 1,000,000

Long Term Debt - Schedule of Te

Long Term Debt - Schedule of Term Loan Facility Balances (Details) - Line of Credit - Citizens Credit Agreement - USD ($) $ in Thousands	Dec. 31, 2024	Jan. 19, 2024
Long-Term Debt, by Current and Noncurrent [Abstract]
Original issue discount		$ 1,063
Deferred financing costs		256
Term Loan Facility
Long term debt, net
Original issue discount	$ 137	224
Deferred financing costs	33	54
Current portion of long term debt
Original issue discount	0
Deferred financing costs	$ 0
Revolving Credit Facility
Current portion of long term debt
Original issue discount		839
Deferred financing costs		$ 202

Long Term Debt - Schedule of Ex

Long Term Debt - Schedule of Extinguishment of Debt (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 19, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Unamortized deferred financing costs	$ 781
Unamortized original issue discount	120
Prepayment premium	500
Loss on extinguishment of debt	$ 1,401	$ 1,401	$ 0	$ 0

Long Term Debt - Schedule of _2

Long Term Debt - Schedule of Term Loan Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jan. 19, 2024	Dec. 31, 2023
Current portion of long term debt
Total	$ 1,000		$ 1,000
Long-Term Debt, by Current and Noncurrent [Abstract]
Total	17,830		48,099
Line of Credit | Citizens Credit Agreement | Term Loan Facility
Current portion of long term debt
Outstanding principal	1,000
Deferred financing costs	0
Original issue discount	0
Total	1,000
Long-Term Debt, by Current and Noncurrent [Abstract]
Outstanding principal	18,000
Deferred financing costs	(33)	$ (54)
Original issue discount	(137)	$ (224)
Total	$ 17,830
Line of Credit | Hayfin Loan Agreement Term Loan | Term Loan Facility
Current portion of long term debt
Outstanding principal			1,000
Deferred financing costs			0
Original issue discount			0
Total			1,000
Long-Term Debt, by Current and Noncurrent [Abstract]
Outstanding principal			49,000
Deferred financing costs			(781)
Original issue discount			(120)
Total			$ 48,099

Long Term Debt - Schedule of In

Long Term Debt - Schedule of Interest Expense (Details) - Line of Credit - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Term Loan Facility and Hayfin Loan Agreement | Term Loan Facility
Debt Instrument [Line Items]
Stated interest	$ 1,797	$ 6,078	$ 4,559
Amortization of deferred financing costs	47	438	405
Accretion of original issue discount	91	67	62
Interest expense	1,935	$ 6,583	$ 5,026
Citizens Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Amortization of deferred financing costs	63
Accretion of original issue discount	168
Commitment fee	178
Interest expense	$ 409

Long Term Debt - Schedule of Fu

Long Term Debt - Schedule of Future principal payments for the Term Loan (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 1,000
2026	1,500
2027	1,500
2028	2,000
2029	13,000
Thereafter	0
Long term debt, net	$ 19,000

Basic and Diluted Net Loss Pe_3

Basic and Diluted Net Loss Per Common Share - Schedule of Basic Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income (loss) from continuing operations	$ 41,998	$ 67,439	$ (19,953)
Income (loss) from discontinued operations, net of tax	421	(9,211)	(10,244)
Net income (loss)	42,419	58,228	(30,197)
Adjustments to reconcile to net loss available to common stockholders:
Accumulated dividend on previously converted Series B Preferred Stock	0	6,753	6,580
Preferred share repurchase in excess of book value	0	4,890	0
Total adjustments	0	11,643	6,580
Net income (loss) available to common stockholders from continuing operations	$ 41,998	$ 55,796	$ (26,533)
Weighted average common shares outstanding	146,979,354	116,495,810	112,909,266
Basic net income (loss) per common share:
Continuing operations - basic (in dollars per share)	$ 0.29	$ 0.48	$ (0.24)
Discontinued operations - basic (in dollars per share)	0	(0.08)	(0.09)
Basic net income (loss) per common share (in dollars per share)	$ 0.29	$ 0.40	$ (0.33)

Basic and Diluted Net Loss Pe_4

Basic and Diluted Net Loss Per Common Share - Schedule of Diluted Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss) available to common stockholders from continuing operations	$ 41,998	$ 55,796	$ (26,533)
Adjustments:
Dividends on previously converted Series B Preferred Stock	0	6,466	6,580
Preferred share repurchase in excess of book value	0	5,177	0
Less: antidilutive adjustments	0	(5,177)	(6,580)
Total adjustments	0	6,466	0
Numerator
Net income (loss) available to common stockholders from continuing operations	41,998	62,262	(26,533)
Income (loss) from discontinued operations, net of tax	$ 421	$ (9,211)	$ (10,244)
Weighted average common shares outstanding	146,979,354	116,495,810	112,909,266
Potential common shares
Total adjustments (in shares)	2,069,843	29,466,652	0
Weighted average common shares outstanding adjusted for potential common shares (in shares)	149,049,197	145,962,462	112,909,266
Diluted net income (loss) per common share:
Continuing operations (in dollars per share)	$ 0.28	$ 0.43	$ (0.24)
Discontinued operations (in dollars per share)	0	(0.06)	(0.09)
Diluted net income (loss) per common share (in dollars per share)	$ 0.28	$ 0.37	$ (0.33)
Previously converted Series B Preferred Stock
Potential common shares
Stock-based awards (in shares)	0	27,457,905	0
Restricted stock unit awards
Potential common shares
Stock-based awards (in shares)	1,447,217	1,452,153	0
Outstanding stock options
Potential common shares
Stock-based awards (in shares)	473,015	396,779	0
Performance stock unit awards
Potential common shares
Stock-based awards (in shares)	149,611	137,425	0
Restricted stock awards
Potential common shares
Stock-based awards (in shares)	0	22,136	0
Employee stock purchase plan
Potential common shares
Stock-based awards (in shares)	0	254	0

Basic and Diluted Net Loss Pe_5

Basic and Diluted Net Loss Per Common Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares (in shares)	0	1,219,348	28,705,593
Series B Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares (in shares)	0	1,219,348	27,850,916
Restricted stock unit awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares (in shares)	0	0	546,883
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares (in shares)	0	0	217,971
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares (in shares)	0	0	65,720
Performance stock unit awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares (in shares)	0	0	5,251
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares (in shares)	0	0	18,852

Equity - Series B Convertible P

Equity - Series B Convertible Preferred Stock (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Dec. 31, 2023	Oct. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Dividends Payable [Line Items]
Repurchase of Series B Preferred Shares			$ 0	$ 9,515	$ 0
Common Stock
Dividends Payable [Line Items]
Conversion of series B preferred shares (in shares)				29,761,650
Series B Preferred Stock
Dividends Payable [Line Items]
Stock repurchase (in shares)		5,000		5,000
Repurchase of Series B Preferred Shares		$ 9,500
Shares converted (in shares)	95,000
Conversion of series B preferred shares (in shares)				95,000

Equity - Schedule of Series B P

Equity - Schedule of Series B Preferred Stock (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2023	Dec. 31, 2023
Increase (Decrease) in Temporary Equity [Roll Forward]
Repurchase of Series B Preferred Stock		$ (4,935)
Conversion of Series B Preferred Stock		$ (87,870)
Series B Preferred Stock
Increase (Decrease) in Temporary Equity [Roll Forward]
Series B Preferred Stock, outstanding, beginning (in shares)		100,000
Series B Preferred Stock, outstanding, beginning		$ 92,494
Series B preferred shares repurchase (in shares)	(5,000)	(5,000)
Repurchase of Series B Preferred Stock		$ (4,625)
Conversion of Series B preferred shares (in shares)		(95,000)
Conversion of Series B Preferred Stock		$ (87,869)
Series B Preferred Stock, outstanding, ending (in shares)		0
Series B Preferred Stock, outstanding, ending		$ 0

Equity - Stock-Based Compensati

Equity - Stock-Based Compensation Awards (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) plan shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans | plan	2
Granted (in shares) | shares	344,026		0
Intrinsic value of options exercised	$ 200	$ 200	$ 600
Proceeds from exercise of stock options	1,397	997	651
Tax benefit from exercise of stock options	100	$ 200	$ 200
Total unrecognized compensation expense	$ 3,400
Expenses expected to be recognized over a weighted-average period	2 years 3 months 29 days
2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for grant under the plan (in shares) | shares	13,400,000

Equity - Schedule of Recognized

Equity - Schedule of Recognized of Share-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-based payment, expense	$ 16,933	$ 16,959	$ 11,328
Income tax benefit, before consideration of valuation allowance	(4,233)	(4,240)	(2,832)
Total share-based compensation, net of tax benefit	12,700	12,719	8,496
Cost of sales
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-based payment, expense	1,546	1,533	1,213
Selling, general and administrative
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-based payment, expense	14,646	14,776	9,578
Research and development
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-based payment, expense	$ 741	$ 650	$ 537

Equity - Stock Options Activity

Equity - Stock Options Activity (Details)	12 Months Ended
	Dec. 31, 2024 tranche shares
Equity [Abstract]
Number of shares available for grant to right of purchase (in shares) | shares	1
Number of vesting tranches | tranche	4

Equity - Schedule of Stock Opti

Equity - Schedule of Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2022
Number of Shares
Outstanding, beginning of period (in shares)	4,042,520
Granted (in shares)	344,026	0
Exercised (in shares)	(207,686)
Unvested options forfeited (in shares)	0
Vested options expired (in shares)	(123,334)
Outstanding, end of period (in shares)	4,055,526
Exercisable options, vested and expected to vest (in shares)	341,000
Weighted- Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 4.06
Granted (in dollars per share)	8.63
Exercised (in dollars per share)	6.79
Unvested options forfeited (in dollars per share)	0
Vested options expired (in dollars per share)	7.17
Outstanding, weighted average exercise price, end of period (in dollars per share)	4.21
Exercisable (in dollars per share)	$ 4.21
Weighted- Average Remaining Contractual Term (in years)
Outstanding, Weighted- Average Remaining Contractual Term (in years)	5 years 1 month 28 days
Exercisable, Weighted- Average Remaining Contractual Term (in years)	4 years 10 months 13 days
Aggregate Intrinsic Value
Outstanding	$ 21,952
Exercisable	$ 1,851

Equity - Schedule of Fair Value

Equity - Schedule of Fair Value Assumptions (Details) - Outstanding stock options - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price on grant date (in dollars per share)	$ 8.63	$ 6.44
Exercise price (in dollars per share)	$ 8.63	$ 6.44
Expected term (years)	4 years 9 months	4 years 9 months
Risk-free interest rate	4.20%	4.30%
Expected volatility (annualized)	66%	77%
Dividend yield	0%	0%
Weighted average grant date fair value (in dollars per share)	$ 4.93	$ 4.10

Equity - Restricted Stock Award

Equity - Restricted Stock Awards (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) tranche shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment, expense	$ 16,933	$ 16,959	$ 11,328
Expenses expected to be recognized over a weighted-average period	2 years 3 months 29 days
Tranche Five | Members of the Board
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	100%
Restricted stock unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of tranches | tranche	3
Number of common stock shares each performance stock units represents (in shares) | shares	1
Granted (in shares) | shares	2,046,126
Share-based payment, expense	$ 15,000
Expenses expected to be recognized over a weighted-average period	1 year 10 months 24 days
Restricted stock unit awards | Tranche One | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33%
Restricted stock unit awards | Tranche Two | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33%
Restricted stock unit awards | Tranche Three | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33%
Restricted stock unit awards | Tranche Four | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	100%
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares	0
Restricted Stock And RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock awards vested		$ 10,900	10,300
Equity Incentive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock awards vested			$ 10,900
Minimum | Restricted stock unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Maximum | Restricted stock unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Equity - Performance Stock Unit

Equity - Performance Stock Units (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment, expense	$ 16,933	$ 16,959	$ 11,328
Expenses expected to be recognized over a weighted-average period	2 years 3 months 29 days
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock shares each performance stock units represents (in shares)	1
vesting percentage	150%
Performance stock unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested (in shares)	0	0	0
Share-based payment, expense	$ 6,700
Expenses expected to be recognized over a weighted-average period	2 years 29 days
Cumulative catch-up adjustment	$ 7,800
Tax benefit	$ 5,900

Equity - Schedule of Equity Inc

Equity - Schedule of Equity Incentive Award (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted stock unit awards
Number of Shares
Unvested, beginning of period (in shares)	3,908,739
Granted (in shares)	2,046,126
Vested (in shares)	(1,803,810)
Forfeited (in shares)	(639,232)
Unvested, end of period (in shares)	3,511,823	3,908,739
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share)	$ 5.38
Granted (in dollars per share)	8.11
Vested (in dollars per share)	6.06
Forfeited (in dollars per share)	6.29
Unvested, end of period (in dollars per share)	$ 6.46	$ 5.38
Performance stock unit awards
Number of Shares
Unvested, beginning of period (in shares)	3,727,272
Granted (in shares)	450,532
Vested (in shares)	0	0	0
Forfeited (in shares)	0
Unvested, end of period (in shares)	4,177,804	3,727,272
Weighted-Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share)	$ 3.84
Granted (in dollars per share)	9.41
Vested (in dollars per share)	0
Forfeited (in dollars per share)	0
Unvested, end of period (in dollars per share)	$ 4.44	$ 3.84

Equity - CEO Performance Grant

Equity - CEO Performance Grant (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 27, 2023 USD ($) trading_day goal $ / shares shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) shares
Dividends Payable [Line Items]
Granted (in shares) | shares		344,026		0
Share-based payment, expense		$ 16,933	$ 16,959	$ 11,328
Granted (in dollars per share) | $ / shares		$ 8.63
Performance stock unit awards
Dividends Payable [Line Items]
Granted (in shares) | shares		450,532
Share-based payment, expense		$ 6,700
Restricted stock unit awards
Dividends Payable [Line Items]
Granted (in shares) | shares		2,046,126
Share-based payment, expense		$ 15,000
Executive Officer
Dividends Payable [Line Items]
Granted (in shares) | shares	3,600,000
Granted (in dollars per share) | $ / shares	$ 3.70
Share price goals | goal	3
Trading days | trading_day	20
Total grant date fair value	$ 7,000
Executive Officer | Tranche Three
Dividends Payable [Line Items]
Vesting percentage	25%
Executive Officer | Tranche Four
Dividends Payable [Line Items]
Vesting percentage	25%
Executive Officer | Tranche One
Dividends Payable [Line Items]
Vesting percentage	25%
Executive Officer | Tranche Two
Dividends Payable [Line Items]
Vesting percentage	25%
Executive Officer | Performance stock unit awards
Dividends Payable [Line Items]
Granted (in shares) | shares	3,300,000
Minimum percent	50%
Share-based payment, expense		2,500
Executive Officer | Performance stock unit awards | Minimum
Dividends Payable [Line Items]
Vesting rights percent	50%
Executive Officer | Performance stock unit awards | Maximum
Dividends Payable [Line Items]
Vesting rights percent	200%
Executive Officer | Stock options
Dividends Payable [Line Items]
Share-based payment, expense		$ 2,400
Executive Officer | Restricted stock unit awards | Tranche Three
Dividends Payable [Line Items]
Vesting percentage		33%
Executive Officer | Restricted stock unit awards | Tranche One
Dividends Payable [Line Items]
Vesting percentage		33%
Executive Officer | Restricted stock unit awards | Tranche Two
Dividends Payable [Line Items]
Vesting percentage		33%
Employee | Restricted stock unit awards | Tranche Three
Dividends Payable [Line Items]
Vesting percentage		33%
Employee | Restricted stock unit awards | Tranche Four
Dividends Payable [Line Items]
Vesting percentage		100%
Employee | Restricted stock unit awards | Tranche One
Dividends Payable [Line Items]
Vesting percentage		33%
Employee | Restricted stock unit awards | Tranche Two
Dividends Payable [Line Items]
Vesting percentage		33%

Equity - Employee Stock Purchas

Equity - Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment, expense	$ 16,933	$ 16,959	$ 11,328
Accrued compensation	$ 23,667	22,353
Expenses expected to be recognized over a weighted-average period	2 years 3 months 29 days
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock	85%
Purchase period	6 months
Shares authorized for grant under the plan (in shares)	3
Share-based payment, expense	$ 600	500	$ 200
Accrued compensation	600	$ 700
Unrecognized stock-based compensation related to unvested restricted stock awards	$ 100
Expenses expected to be recognized over a weighted-average period	29 days

Equity - Schedule of Assumption

Equity - Schedule of Assumptions Used in Determining the Fair Value of These PSUs (Details) - Stock options - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price on grant date (in dollars per share)	$ 8.63	$ 6.44
Exercise price (in dollars per share)	$ 8.63	$ 6.44
Risk-free interest rate	4.20%	4.30%
Expected volatility (annualized)	66%	77%
Dividend yield	0%	0%
Weighted average grant date fair value (in dollars per share)	$ 4.93	$ 4.10
Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price on grant date (in dollars per share)	3.70
Exercise price (in dollars per share)	$ 3.70
Risk-free interest rate	3.60%
Expected volatility (annualized)	75%
Dividend yield	0%
Weighted average grant date fair value (in dollars per share)	$ 1.93

Equity - Share Withholding for

Equity - Share Withholding for Employee Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Shares repurchased for tax withholding (in shares)	354,263	0	249,442
Adjustments related to tax withholding for share-based compensation	$ 2,600	$ 0	$ 1,190

Revenue - Schedule of Net Sales

Revenue - Schedule of Net Sales by Product (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) service_site	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Number of sites of service | service_site	2
Revenue, Major Customer [Line Items]
Net sales	$ 348,879	$ 321,477	$ 267,841
Wound
Revenue, Major Customer [Line Items]
Net sales	231,004	205,660	175,970
Surgical
Revenue, Major Customer [Line Items]
Net sales	$ 117,875	$ 115,817	$ 91,871

Revenue - Schedule of Net Sal_2

Revenue - Schedule of Net Sales by Site of Service (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue, Major Customer [Line Items]
Net sales	$ 348,879	$ 321,477	$ 267,841
Hospital
Revenue, Major Customer [Line Items]
Net sales	187,440	187,000	163,206
Private Office
Revenue, Major Customer [Line Items]
Net sales	112,388	95,789	77,158
Other
Revenue, Major Customer [Line Items]
Net sales	$ 49,051	$ 38,688	$ 27,477

Revenue - Schedule of Sales Ret

Revenue - Schedule of Sales Returns Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Sales Returns Allowance [Roll Forward]
Sales return, reserve for sales returns, beginning balance	$ 1,096	$ 659
Additions	4,314	3,899
Deductions and write-offs	(3,420)	(3,462)
Sales return, reserve for sales returns, ending balance	$ 1,990	$ 1,096

Segment Information - Narrative

Segment Information - Narrative (Details) - segment	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2024
Segment Reporting [Abstract]
Number of reportable segments	1	1

Segment Information - Schedule

Segment Information - Schedule of Net Sales and Operating Income (Loss) by each Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting [Abstract]
Selling and marketing	$ 175,562	$ 161,833	$ 151,227
General and administrative	49,525	49,291	57,446
Selling, general and administrative	$ 225,087	$ 211,124	$ 208,673

Segment Information - Schedul_2

Segment Information - Schedule of Interest Expense and Interest Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting [Abstract]
Interest income	$ 2,932	$ 118	$ 32
Interest expense	(3,938)	(6,575)	(5,048)
Interest expense, net	$ (1,006)	$ (6,457)	$ (5,016)

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 15, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Asset Acquisition [Line Items]
Cash payment for acquisition		$ 7,862	$ 0	$ 0
Contingent consideration payable		441	0	0
Minimum Profit Share Payments pursuant to TELA APA		$ 2,731	$ 0	$ 0
TELA APA
Asset Acquisition [Line Items]
Initial consideration paid	$ 5,000
Future payments for remaining product inventory	$ 400
Net sales over the period	2 years
Consideration transferred	$ 8,100
Minimum Profit Share Payments pursuant to TELA APA	2,700
Asset acquisition, inventory	500
TELA APA | Minimum
Asset Acquisition [Line Items]
Contingent consideration payable	3,000
TELA APA | Maximum
Asset Acquisition [Line Items]
Contingent consideration payable	7,000
TELA APA | Distributor Agreements
Asset Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 7,600
Estimated useful life (in years)	5 years

Discontinued Operations - Sched

Discontinued Operations - Schedule Of Disposal Groups Including Discontinued Operations Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations	$ 421	$ (9,211)	$ (10,244)
Regenerative Medicine | Disbanded
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Selling, general and administrative expense	(221)	0	116
Research and development expense	(200)	8,017	10,128
Restructuring expense	0	4,168	0
Income tax provision benefit (expense) from discontinued operations	0	(2,974)	0
Income (loss) from discontinued operations	$ 421	$ (9,211)	$ (10,244)

Discontinued Operations - Sch_2

Discontinued Operations - Schedule Of Disposal Groups Including Discontinued Operations Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current liabilities of discontinued operations	$ 0	$ 1,352
Disbanded | Regenerative Medicine
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accrued compensation	0	311
Accrued expenses	$ 0	$ 1,041

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill impairment	$ 0	$ 0
Regenerative Medicine
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill impairment	$ 500,000

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets:
Capitalized research and development expenditures	$ 9,970	$ 10,843
Research and development and other tax credits	6,752	8,117
Share-based compensation	3,933	3,266
Net operating loss	3,713	13,712
Accrued expenses	3,038	3,660
Lease liabilities	1,456	600
Allowance for doubtful accounts	778	778
Intangible assets	580	0
Sales return and allowances	494	270
Property and equipment	295	84
Interest limitation carry forward	0	1,873
Other	155	437
Deferred Tax Liabilities:
Prepaid expenses	(949)	(1,045)
Right of use asset	(1,392)	(571)
Interest limitation carry forward	(12)	0
Intangible assets	0	(337)
Net Deferred Tax Assets	28,811	41,687
Less: Valuation allowance	(505)	(910)
Net Deferred Tax Assets after Valuation Allowance	$ 28,306	$ 40,777

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of the Federal Statutory Income Tax (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory rate	21%	21%	21%
State taxes, net of federal benefit	4.10%	(21.80%)	(0.80%)
Nondeductible compensation	1.10%	1.80%	(3.20%)
Deferred tax adjustments	0.90%	1.30%	(4.40%)
Meals and entertainment	0.60%	1.20%	(0.20%)
Uncertain tax positions	0%	0.40%	(0.50%)
Valuation allowance	0%	(123.50%)	(12.50%)
Tax credits	(0.70%)	(3.20%)	4.90%
Share-based compensation	(1.00%)	2.80%	(6.10%)
Other	0.70%	(0.20%)	0.60%
Effective tax rate	26.70%	(120.20%)	(1.00%)

Income Taxes - Schedule of Curr

Income Taxes - Schedule of Current and Deferred Income Tax (Benefit) Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 703	$ 576	$ 0
State	2,121	422	206
Total current	2,824	998	206
Deferred:
Federal	11,626	(31,633)	0
State	846	(9,144)	0
Total deferred	12,472	(40,777)	0
Income tax provision expense (benefit)	$ 15,296	$ (39,779)	$ 206

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 505	$ 910
Deferred tax assets, operating loss carryforwards, federal	100	9,100
Deferred tax assets, operating loss carryforwards, state	3,600	4,600
Unrecognized tax benefits that, if recognized, would impact effective tax rate	800	800
Accrued interest related to unrecognized tax benefits	0	0
Other Liabilities
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits that, if recognized, would impact effective tax rate	200	100
Federal
Operating Loss Carryforwards [Line Items]
Income tax net operating loss carryforwards	700	64,200
State
Operating Loss Carryforwards [Line Items]
Income tax net operating loss carryforwards	$ 43,500	$ 85,700

Income Taxes - Schedule of Re_2

Income Taxes - Schedule of Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits, beginning of period	$ 807	$ 645	$ 469
Increases - tax positions in current period	53	124	98
Increases - tax positions in prior period	0	38	78
Decreases in prior year positions	(29)	0	0
Unrecognized tax benefits, end of period	$ 831	$ 807	$ 645

Supplemental Disclosure of Ca_3

Supplemental Disclosure of Cash Flow and Non-Cash Investing and Financing Activities - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 2,698	$ 6,034	$ 4,569
Income taxes paid (refunded)	3,247	(548)	181
Cash paid for operating leases	1,618	1,635	1,567
Non-cash activities:
Conversion of Series B Preferred Stock	0	87,870	0
Fair value of shares received in settlement of litigation	9,300	0	0
Minimum Profit Share Payments pursuant to TELA APA	2,731	0	0
Issuance of shares pursuant to employee stock purchase plan	1,582	1,367	0
Purchases of equipment included in accounts payable	0	228	417
Financing costs incurred but not paid for Citizens Financing Transaction	0	138	0
Legal fees associated with the Repurchase of Series B Preferred Stock	0	45	0
Lease right of use asset and liability	5,333	0	(37)
Contingent consideration payable	$ 441	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Estimated Meeting Space Commitments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 237
2026	108
Total	$ 345

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024
Loss Contingencies [Line Items]
Litigation liability	$ 0	$ 0
Payments for legal settlements	600,000	200,000	$ 700,000
Payments for legal settlements through insurance provider			600,000
Fair value of shares received in settlement of litigation	9,300,000	$ 0	$ 0
Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, share-based payment arrangement, number of shares received (in shares)				1.2
Fair value of shares received in settlement of litigation	$ 9,300,000

401(k) Plan (Details)

401(k) Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Minimum service period required to qualify for 401(k) plan (in months)	1 month
Maximum wages deferred (as percent)	90%
Maximum eligible wages deferred by participants per year	$ 23,000
Minimum age for additional contribution beyond normal plan	50 years
Defined benefit plan, contributions by plan participants	$ 7,500
Contributions matched by employer (as percent)	50%	50%	50%
Employer matching contribution of eligible compensation (as percent)	8%	8%	8%
Employer matching contribution	$ 2,600,000	$ 2,700,000	$ 3,300,000

Government Assistance (Details)

Government Assistance (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Government Assistance [Line Items]
Government Assistance, Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current
Employee Retention Credit (ERC)
Government Assistance [Line Items]
Government assistance receivable	$ 1