SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
Accounting Policies [Abstract] |
|
SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER SHARE |
The
following table summarizes the shares of common stock that were potentially issuable but were excluded from the computation of diluted
net loss per share for the six months ended June 30, 2025 and 2024 as such shares would have had an anti-dilutive effect:
SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER SHARE
| |
2025 | | |
2024 | |
| |
As of June 30, | |
| |
2025 | | |
2024 | |
Stock options(a) | |
| 31,013 | | |
| 31,013 | |
Warrants(b) | |
| - | | |
| 16,725 | |
Unvested restricted stock | |
| 260,377 | | |
| 230,277 | |
Anti-dilutive securities | |
| 260,377 | | |
| 230,277 | |
|
(a) |
Shares underlying stock options assumed pursuant to the merger agreement with Precision Healing, Inc. (“Precision Healing”)
in April 2022. |
|
|
|
|
(b)
|
Shares underlying warrants assumed
pursuant to the merger agreement with Precision Healing in April 2022. |
|
SCHEDULE OF REVENUE FROM PRODUCT SALES AND ROYALTIES |
Revenue
streams from product sales, software as a service (“SaaS”), and royalties for the three and six months
ended June 30, 2025 and 2024 are summarized below.
SCHEDULE OF REVENUE FROM PRODUCT SALES AND ROYALTIES
| |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| |
Three
Months Ended June 30, | | |
Six
Months Ended June 30, | |
| |
2025 | | |
2024 | | |
2025 | | |
2024 | |
Soft tissue repair products | |
$ | 22,661,457 | | |
$ | 17,641,318 | | |
$ | 43,193,897 | | |
$ | 33,723,610 | |
Bone fusion products | |
| 3,142,795 | | |
| 2,516,599 | | |
| 6,044,451 | | |
| 4,970,945 | |
SaaS | |
| 26,582 | | |
| - | | |
| 26,582 | | |
| - | |
Royalties | |
| - | | |
| 906 | | |
| - | | |
| 906 | |
Total Net Revenue | |
$ | 25,830,834 | | |
$ | 20,158,823 | | |
$ | 49,264,930 | | |
$ | 38,695,461 | |
|
SCHEDULE OF PROPERTY AND EQUIPMENT |
SCHEDULE OF PROPERTY AND EQUIPMENT
| |
Useful
Life | |
June 30, 2025 | | |
December 31, 2024 | |
Computers | |
3-5 years | |
$ | 245,381 | | |
$ | 295,963 | |
Office equipment | |
3-7 years | |
| 231,557 | | |
| 216,491 | |
Furniture and fixtures | |
5-10 years | |
| 335,108 | | |
| 346,508 | |
Leasehold improvements | |
2-5 years | |
| 180,668 | | |
| 181,968 | |
Developed technology | |
5 years | |
| 5,127,749 | | |
| - | |
Internal use software (in development) | |
5 years | |
| 3,368,324 | | |
| - | |
| |
| |
| | | |
| | |
Property and equipment, gross | |
| |
| 9,488,787 | | |
| 1,040,930 | |
Less accumulated depreciation | |
| |
| (588,908 | ) | |
| (608,613 | ) |
| |
| |
| | | |
| | |
Property and equipment, net | |
| |
$ | 8,899,879 | | |
$ | 432,317 | |
|
SCHEDULE OF CHANGES IN FAIR VALUE FOR CONTINGENT EARNOUT CONSIDERATION |
SCHEDULE OF CHANGES IN FAIR VALUE FOR CONTINGENT EARNOUT CONSIDERATION
| |
| | |
Balance at December 31, 2024 | |
$ | 748,001 | |
Additions | |
| 1,355,603 | |
Revaluation of earnout liabilities | |
| 47,000 | |
Balance at June 30, 2025 | |
$ | 2,150,604 | |
|