XML 32 R18.htm IDEA: XBRL DOCUMENT v3.25.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2025
Summary of Significant Accounting Policies  
Summary of the items included within net loss regularly provided to the CODM

​

​

​

​

​

​

​

​

​

​

Six months ended June 30, 

​

​

2025

​

2024

Revenue

​

$

38,717

​

$

32,694

Cost of revenue (excluding amortization of intangible assets)

​

 

11,910

​

 

10,095

Amortization of intangible assets

​

 

190

​

 

190

Gross profit

​

 

26,617

​

 

22,409

Sales and marketing:

​

 

  

​

 

  

Sales and sales management

​

 

22,830

​

 

22,421

International

​

 

2,808

​

 

2,426

Other sales and marketing (a)

​

 

7,827

​

 

9,372

Total sales and marketing

​

 

33,465

​

 

34,219

General and Administrative:

​

 

​

​

 

​

Finance and Legal

​

​

3,919

​

​

3,862

Other General and administrative (b)

​

 

4,043

​

 

3,588

Total general and administrative

​

 

7,962

​

 

7,450

Research and Development:

​

​

​

​

​

​

Clinical

​

​

1,780

​

​

2,136

Regulatory and quality

​

 

867

​

​

761

Other research and development (c)

​

​

2,096

​

​

1,819

Total research and development

​

​

4,743

​

​

4,716

Gain on sale of product line

​

​

—

​

​

7,580

Other segment items (d)

​

​

(1,634)

​

​

(1,865)

Net loss

​

$

(21,187)

​

$

(18,261)

​

​

​

​

​

​

​

(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

​

​

​

​

​

​

​

​

​

​

June 30, 

​

June 30, 

​

    

2025

    

2024

Cash and cash equivalents

​

$

34,977

​

$

26,496

Restricted cash

​

 

265

​

 

265

Total cash and cash equivalents and restricted cash shown in statements of cash flows

​

$

35,242

​

$

26,761

Disaggregation of Revenue

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended June 30, 

​

Six months ended June 30, 

​

​

2025

​

2024

​

2025

​

2024

OviTex

​

$

12,487

​

$

11,124

​

$

24,596

​

$

21,659

OviTex PRS

​

​

7,333

​

​

4,796

​

​

13,377

​

​

10,741

Other

​

​

377

​

​

171

​

​

744

​

​

294

Total revenue

​

$

20,197

​

$

16,091

​

$

38,717

​

$

32,694

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)

June 30, 2025:

​

​

​

​

​

​

​

​

​

Cash equivalents – money market fund

​

$

33,035

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

December 31, 2024:

​

​

​

​

​

​

​

​

​

Cash equivalents – money market fund

​

$

48,131

​

$

—

​

$

—

Schedule of dilutive securities excluded

​

​

​

​

​

​

​

​

Six months ended June 30, 

​

​

2025

​

2024

Stock options

​

2,817,979

 

2,239,140

Unvested restricted stock units

​

1,359,116

​

991,391

Common stock warrants

​

88,556

​

88,556

Total

 

4,265,651

 

3,319,087