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Balance Sheets Details (Tables)
12 Months Ended
Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]  
Accounts receivable, net

Accounts receivable, net consist of the following (in thousands):

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Accounts receivable

 

$

44,200

 

 

$

23,887

 

Allowance for doubtful accounts

 

 

(2,307

)

 

 

(360

)

Accounts receivable, net

 

$

41,893

 

 

$

23,527

 

Inventories

Inventories consist of the following (in thousands):

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Raw materials

 

$

14,671

 

 

$

6,064

 

Work-in-process

 

 

5,712

 

 

 

1,982

 

Finished goods

 

 

71,320

 

 

 

37,955

 

Inventories

 

$

91,703

 

 

$

46,001

 

Property and equipment, net

Property and equipment, net consist of the following (in thousands, except as indicated):

 

 

 

Useful lives

 

 

December 31,

 

 

 

(in years)

 

 

2021

 

 

2020

 

Surgical instruments

 

 

4

 

 

$

130,432

 

 

$

76,669

 

Machinery and equipment

 

 

7

 

 

 

11,092

 

 

 

6,562

 

Computer equipment

 

 

3

 

 

 

5,694

 

 

 

4,206

 

Office furniture and equipment

 

 

5

 

 

 

3,861

 

 

 

1,380

 

Leasehold improvements

 

various

 

 

 

1,754

 

 

 

1,761

 

Construction in progress

 

n/a

 

 

 

7,292

 

 

 

2,738

 

 

 

 

 

 

 

 

160,125

 

 

 

93,316

 

Less: accumulated depreciation

 

 

 

 

 

 

(72,724

)

 

 

(56,646

)

Property and equipment, net

 

 

 

 

 

$

87,401

 

 

$

36,670

 

Intangible assets, net

Intangible assets, net consist of the following (in thousands, except as indicated):

 

 

 

Remaining Avg.

Useful lives

 

 

Gross

 

 

Accumulated

 

 

Intangible

 

December 31, 2021:

 

(in years)

 

 

Amount

 

 

Amortization

 

 

Assets, net

 

Developed product technology

 

 

12

 

 

$

74,543

 

 

$

(5,768

)

 

$

68,775

 

Trademarks and trade names

 

 

10

 

 

 

5,732

 

 

 

(477

)

 

 

5,255

 

Customer relationships

 

 

5

 

 

 

14,732

 

 

 

(5,264

)

 

 

9,468

 

Distribution network

 

 

3

 

 

 

2,413

 

 

 

(1,840

)

 

 

573

 

In-process research and development

 

n/a

 

 

 

1,203

 

 

 

 

 

 

1,203

 

Total

 

 

 

 

 

$

98,623

 

 

$

(13,349

)

 

$

85,274

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining Avg.

Useful lives

 

 

Gross

 

 

Accumulated

 

 

Intangible

 

December 31, 2020:

 

(in years)

 

 

Amount

 

 

Amortization

 

 

Assets, net

 

Developed product technology

 

 

12

 

 

$

35,376

 

 

$

(23,056

)

 

$

12,320

 

License agreements

 

 

1

 

 

 

5,536

 

 

 

(965

)

 

 

4,571

 

Trademarks and trade names

 

 

 

 

 

792

 

 

 

(119

)

 

 

673

 

Customer relationships

 

 

3

 

 

 

7,458

 

 

 

(3,968

)

 

 

3,490

 

Distribution network

 

 

2

 

 

 

4,027

 

 

 

(1,639

)

 

 

2,388

 

In-process research and development

 

n/a

 

 

 

1,278

 

 

 

 

 

 

1,278

 

Total

 

 

 

 

 

$

54,467

 

 

$

(29,747

)

 

$

24,720

 

Schedule of intangible assets, future expected amortization expense

Future amortization expense related to intangible assets as of December 31, 2021 is as follows (in thousands):

 

Year Ending December 31,

 

 

 

 

2022

 

$

9,436

 

2023

 

 

9,436

 

2024

 

 

9,333

 

2025

 

 

8,748

 

2026

 

 

8,748

 

Thereafter

 

 

39,573

 

Total

 

$

85,274

 

Schedule of Goodwill

The change in the carrying amount of goodwill during the year ended December 31, 2021 included the following (in thousands):

 

December 31, 2020

 

$

13,897

 

Additions

 

 

27,841

 

Foreign currency fluctuation

 

 

(2,049

)

December 31, 2021

 

$

39,689

 

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Payroll and payroll related

 

$

18,449

 

 

$

13,552

 

Commissions and sales milestones

 

 

12,420

 

 

 

7,038

 

Professional fees

 

 

4,684

 

 

 

3,551

 

Litigation settlement obligation

 

 

4,400

 

 

 

4,000

 

Royalties

 

 

3,466

 

 

 

2,293

 

Other taxes payable

 

 

3,004

 

 

 

248

 

Inventory in-transit

 

 

2,089

 

 

 

1,771

 

Administration fees

 

 

1,698

 

 

 

442

 

Interest

 

 

1,045

 

 

 

619

 

Other

 

 

4,294

 

 

 

1,750

 

Total accrued expenses and other current liabilities

 

$

55,549

 

 

$

35,264

 

Schedule of Other Long-Term Liabilities

Other long-term liabilities consist of the following (in thousands):

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Royalties

 

$

5,833

 

 

$

1,678

 

Litigation settlement obligation - long-term portion

 

 

3,587

 

 

 

7,634

 

Income tax-related liabilities

 

 

1,522

 

 

 

373

 

Contract liability

 

 

2,897

 

 

 

 

Other

 

 

3,222

 

 

 

1,703

 

Other long-term liabilities

 

$

17,061

 

 

$

11,388