Commitments and Contingencies

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

7. Commitments and Contingencies

License and Royalty Commitments

As of June 30, 2022 and December 2021, the Company has royalty agreements with certain members of its surgeon advisory board. The Company recognized royalty expense of $1.3 million and $0.8 million for the three months ended June 30, 2022 and 2021, respectively, and $2.7 million and $1.6 million for the six months ended June 30, 2022 and 2021,

respectively. For the three and six month periods ended June 30, 2022 and 2021, the aggregate royalty rate was 4.6% and 4.1%, respectively.

Contingencies

From time to time, the Company may be a party to various litigation claims in the normal course of business. Legal fees and other costs associated with such actions are expensed as incurred. The Company assesses, in conjunction with legal counsel, the need to record a liability for litigation and contingencies. Accrual estimates are recorded when and if it is determinable that such a liability for litigation and contingencies are both probable and reasonably estimable. There were no accrued contingent liabilities as of June 30, 2022 and December 31, 2021.