Segment and Geographic Information

12 Months Ended

Dec. 31, 2024

Segment and Geographic Information [Abstract]

Segment and Geographic Information

NOTE 16. SEGMENT AND GEOGRAPHIC INFORMATION

The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer, who manages our business globally within one operating and reportable segment. The CODM evaluates operating performance based on consolidated net loss. The CODM considers the performance of these measures against planned and forecasted amounts to make investing and resource allocation decisions. For information about how the Company derives revenue, as well as the Company’s accounting policies, refer to Note 2 to our Consolidated Financial Statements.

The following table sets forth significant expense categories and other specified amounts included in consolidated net loss that are reviewed by the CODM, or are otherwise regularly provided to the CODM, for the years ended December 31, 2024, 2023, and 2022:

	Year Ended December 31,
	2024		2023		2022
Net revenue	$	256,182	$	216,389	$	181,383
Standard cost of goods sold		39,009		30,870		20,571
Shipping costs		10,234		10,861		9,637
Excess and obsolete inventory		10,094		4,037		485
Other cost of goods sold(1)		5,356		6,186		1,424
Gross profit		191,489		164,435		149,266
Research and development		27,066		30,078		24,650
Commissions		70,259		58,733		50,731
Marketing and medical education		23,536		24,907		22,455
General and administrative		75,686		65,046		59,580
Depreciation and amortization		18,546		15,542		13,728
Other segment expenses(2)		17,174		15,794		12,829
Legal settlement		—		—		27,000
Operating loss		(40,778)		(45,665)		(61,707)
Other income (expense), net		(1,171)		(1,183)		123
Loss on early extinguishment of debt		—		(5,308)		—
Interest income		1,798		1,891		—
Interest expense		(13,329)		(7,056)		(4,129)
Income tax expense (benefit)		1,159		213		(64)
Net loss	$	(54,639)	$	(57,534)	$	(65,649)

(1) Other cost of goods sold include costs associated with inventory adjustments and royalties

(2) Other segment expenses include bonus, salaries and management support related to selling functions

Product sales attributed to a country or region include product sales to hospitals, physicians and distributors. No individual customer accounted for more than 10% of total product sales for any of the periods presented. No customer accounted for more than 10% of consolidated accounts receivable as of December 31, 2024 and 2023.

The following table represents total net revenue by geographic area, based on the location of the customer for the years ended December 31, 2024, 2023 and 2022, respectively:

	Year Ended December 31,
	2024		2023		2022
United States	$	212,145	$	183,505	$	158,105
International		44,037		32,884		23,278
Total net revenue	$	256,182	$	216,389	$	181,383

No individual country with net revenue originating outside of the United States accounted for more than 10% of consolidated net revenue for the years ended December 31, 2024, 2023 and 2022.

The following table represents total non-current assets, excluding deferred taxes, by geographic area for the years ended December 31, 2024 and 2023, respectively:

	Year Ended December 31,
	2024		2023
United States	$	87,118	$	89,531
Finland		25,069		25,032
Other International		8,986		9,616
Total assets	$	121,173	$	124,179