Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies

Schedule of Inventory

Inventory consists of purchased materials, primarily finished goods and is identified and tracked by lot and stated at the lower of cost or net realizable value, with cost being determined on a first-in, first-out basis. Inventories consisted of the following (in thousands):

	December 31,
	2023		2022
Finished goods	$	13,102	$	11,792
Raw materials		60		—
Total inventory	$	13,162	$	11,792

Disaggregation of Revenue

The following table presents revenue disaggregated (in thousands):

	Year ended December 31,
	2023		2022		2021
OviTex	$	39,416	$	28,879	$	22,990
OviTex PRS		18,736		12,431		6,473
Other		301		108		—
Total revenue	$	58,453	$	41,418	$	29,463

Schedule of fair value of assets and liabilities measured on recurring basis

The following fair value hierarchy table presents information about each major category of the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands):

	Fair value measurement at reporting date using
	Quoted prices in
	active markets		Significant other		Significant
	for identical		observable		unobservable
	assets		inputs		inputs
	(Level 1)		(Level 2)		(Level 3)
December 31, 2023:
Cash equivalents – money market fund	$	41,561	$	—	$	—
December 31, 2022:
Cash equivalents – money market fund	$	39,010	$	—	$	—

Schedule of allowance for credit losses

The following table presents a rollforward of the allowance of credit losses (in thousands):

		Balance at Beginning of Period	Bad Debt Expense Recognized	Write-offs of Uncollectible Balances		Balance at End of Period
Year ended December 31, 2021	$	(46)	(12)	6	$	(52)
Year ended December 31, 2022	$	(52)	(116)	25	$	(143)
Year ended December 31, 2023	$	(143)	(306)	33	$	(416)

Schedule of dilutive securities excluded

	December 31,
	2023	2022	2021
Stock options (including shares subject to repurchase)	2,162,453	2,071,848	1,706,438
Unvested restricted stock units	907,203	311,991	163,043
Common stock warrants	88,556	88,556	88,556
Total	3,158,212	2,472,395	1,958,037