v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Disclosure Text Block [Abstract]  
Segment Information

14. Segment Information

The Company offers a comprehensive portfolio of regenerative medicine products. The Company organizes its products into two product categories, Advanced Wound Care (“AWC”) and Surgical & Sports Medicine (“SSM”), which serve two adjacent markets. Many of the Company’s products are clinically interchangeable and certain products are categorized as both AWC and SSM products. The Company’s products all contain regenerative medicine technologies and have the same customers and target market, require similar raw materials and commercial infrastructure, and exist within the same regulatory environment.

The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM reviews consolidated gross profit and operating results to assess the overall performance of the Company and make decisions to allocate resources among the consolidated entity. The CODM uses both gross profit and net income (loss) for the consolidated entity in the annual budget and forecasting process, and considers budget-to-actual variances in gross profit and operating expenses on a quarterly basis when making decisions about the allocation of operating and capital resources to each predominant business activity (research and development, capital expenditure, and employee headcount and compensation).

 

 

Three months ended March 31,

 

 

 

2025

 

 

2024

 

Net revenue

 

$

86,693

 

 

$

109,976

 

Less:

 

 

 

 

 

 

Cost of goods sold

 

 

23,723

 

 

 

28,696

 

Clinical expense

 

 

4,027

 

 

 

5,876

 

Sales and marketing

 

 

48,033

 

 

 

50,282

 

General and administrative

 

 

23,634

 

 

 

21,139

 

Other segment items (a)

 

 

6,119

 

 

 

6,083

 

Segment net loss

 

 

(18,843

)

 

 

(2,100

)

 

 

 

 

 

 

 

Reconciliation of segment net income:

 

 

 

 

 

 

Reconciling items

 

 

—

 

 

 

—

 

Consolidated net loss

 

$

(18,843

)

 

$

(2,100

)

 

(a) Other segment items include: payroll taxes and benefits, rent and other facilities expense, depreciation and amortization, write-down to fair value for asset held for sale, interest income, net, and income tax benefit.