Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2025

Summary of Significant Accounting Policies

Summary of the items included within net loss regularly provided to the CODM

	Three months ended March 31,
	2025		2024
Revenue	$	18,520	$	16,603
Cost of revenue (excluding amortization of intangible assets)		5,913		5,172
Amortization of intangible assets		95		95
Gross profit		12,512		11,336
Sales and marketing:
Sales and sales management		11,614		11,567
International		1,357		1,405
Other sales and marketing (a)		3,637		4,548
Total sales and marketing		16,608		17,520
General and Administrative:
Finance and Legal		1,951		2,021
Other General and administrative (b)		1,885		1,808
Total general and administrative		3,836		3,829
Research and Development:
Clinical		939		1,139
Regulatory and quality		440		367
Other research and development (c)		1,161		887
Total research and development		2,540		2,393
Gain on sale of product line		—		7,580
Other segment items (d)		(792)		(835)
Net loss	$	(11,264)	$	(5,661)
(a) Other sales and marketing includes strategy, analytics and allocated facility expenses.
(b) Other general and administrative includes executive, human resources, information technology and allocated facility expenses.
(c) Other research and development includes engineering and allocated facility expenses.
(d) Other segment items include other operating income and other expenses as disclosed in the consolidated statements of operations and comprehensive loss; interest expense, other income and income tax expense.

Schedule of reconciliation of all captions of cash, cash equivalents and restricted cash

	March 31,		March 31,
	2025		2024
Cash and cash equivalents	$	42,833	$	37,143
Restricted cash		265		265
Total cash and cash equivalents and restricted cash shown in statements of cash flows	$	43,098	$	37,408

Disaggregation of Revenue

The following table presents revenue disaggregated by the Company’s portfolio of products (in thousands):

	Three months ended March 31,
	2025		2024
OviTex	$	12,109	$	10,535
OviTex PRS		6,044		5,945
Other		367		123
Total revenue	$	18,520	$	16,603

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)
March 31, 2025:
Cash equivalents – money market fund	$	40,135	$	—	$	—
December 31, 2024:
Cash equivalents – money market fund	$	48,131	$	—	$	—

Schedule of dilutive securities excluded

	Three months ended March 31,
	2025	2024
Stock options	2,535,298	2,281,313
Unvested restricted stock units	1,211,483	1,079,141
Common stock warrants	88,556	88,556
Total	3,835,337	3,449,010