Nature of Business MiMedx Group, Inc. (together with its subsidiaries, except where the context otherwise requires,  MiMedx , or the  Company ) is an advanced wound care and emerging therapeutic biologics company, developing and distributing human placental tissue allografts with patent-protected processes for multiple sectors of healthcare. The Company derives its products from human placental tissues processed using proprietary processing methodologies. The Companys mission is to offer products and tissues to help the body heal itself. All of the Companys products are regulated by the United States Food and Drug Administration ( FDA ). MiMedx is the leading supplier of human placental allografts, which are human tissues that are transplanted from one person (a donor) to another person (a recipient). The Company operates in one business segment, Regenerative Biomaterials, which includes the design, manufacture, and marketing of products and tissue processing services for the wound care, burn, surgical, orthopedic, spine, sports medicine, ophthalmic and dental sectors of healthcare. Its biomaterial platform technologies include AmnioFix, EpiFix, EpiCord, AmnioCord and AmnioFill brands. AmnioFix and EpiFix are tissue allografts derived from amnion and chorion layers of human placental membrane; EpiCord and AmnioCord are tissue allografts derived from umbilical cord tissue. AmnioFill is a placental connective tissue matrix, derived from the placental disc and other placental tissue. The Companys business model is focused primarily on the United States of America but the Company is exploring potential future international expansion opportunities. Effect of COVID-19 Pandemic On March 11, 2020, the World Health Organization designated the outbreak of a novel strain of coronavirus ( COVID-19 ) as a global pandemic (the  Pandemic  or  COVID-19 Pandemic ).The COVID-19 Pandemic and associated governmental and societal responses have affected the Companys business, results of operations and financial condition. The continuation or additional waves of the outbreak of COVID-19 or the outbreak of other health epidemics could harm the Companys operations and increase the Companys costs and expenses in numerous ways. The ultimate impact of the Pandemic is highly uncertain and subject to change. The Company does not yet know the full extent of delays or impacts on the business, clinical trials, healthcare systems or the global economy as a whole, or how long such effects will endure. The effects of the Pandemic or other health epidemics could continue to have an adverse impact on the Companys business, results of operations and financial condition in the future. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the  CARES Act ) was signed into law. The CARES Act includes provisions relating to refundable payroll tax credits, deferment of employer portion of certain payroll taxes, loans, and grants to certain businesses, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. As a result of the CARES Act, the Company expects a federal tax refund of approximately $11.3 million and has recognized as an income tax benefit of the same amount. The income tax benefit was recognized due to the release of a previously-recorded valuation allowance.