Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Summary of Revenue Disaggregated by Segment, Product and Geography |
The following table presents the Company's revenue disaggregated by segment, product, and geography (in thousands, except percentages): LCT:
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Three Months Ended June 30, 2025 |
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Six Months Ended June 30, 2025 |
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Total |
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% of Total |
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Total |
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% of Total |
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Domestic |
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International |
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Revenues |
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Revenues |
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Domestic |
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International |
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Revenues |
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Revenues |
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Biomedical products |
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Media |
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$ |
1,405 |
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$ |
141 |
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$ |
1,546 |
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67 |
% |
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$ |
2,531 |
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$ |
299 |
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$ |
2,830 |
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66 |
% |
Cells |
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530 |
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227 |
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757 |
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33 |
% |
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1,182 |
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286 |
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1,468 |
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34 |
% |
Total |
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$ |
1,935 |
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$ |
368 |
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$ |
2,303 |
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100 |
% |
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$ |
3,713 |
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$ |
585 |
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$ |
4,298 |
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100 |
% |
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Three Months Ended June 30, 2024 |
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Six Months Ended June 30, 2024 |
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Total |
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% of Total |
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Total |
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% of Total |
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Domestic |
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International |
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Revenues |
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Revenues |
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Domestic |
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International |
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Revenues |
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Revenues |
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Biomedical products |
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Media |
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$ |
1,381 |
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$ |
168 |
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$ |
1,549 |
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73 |
% |
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$ |
2,685 |
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$ |
331 |
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$ |
3,016 |
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75 |
% |
Cells |
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414 |
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157 |
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571 |
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27 |
% |
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739 |
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288 |
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1,027 |
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25 |
% |
Total |
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$ |
1,795 |
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$ |
325 |
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$ |
2,120 |
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100 |
% |
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$ |
3,424 |
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$ |
619 |
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$ |
4,043 |
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100 |
% |
LSC:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Skin care products |
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$ |
144 |
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$ |
211 |
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$ |
278 |
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$ |
417 |
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| Schedule of Computation of Basic and Diluted Net Income (Loss) per Common Share |
The following table details the composition of basic and diluted income (loss) per common share as follows ($ in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Net income (loss) |
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$ |
129 |
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$ |
119 |
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$ |
(127 |
) |
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$ |
(95 |
) |
Less: undistributed earnings allocated to participating securities |
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(62 |
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(57 |
) |
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— |
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— |
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Net income (loss) attributable to common stockholders, basic and diluted |
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$ |
67 |
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$ |
62 |
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$ |
(127 |
) |
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$ |
(95 |
) |
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Weighted-average number of common shares outstanding, basic and diluted |
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8,004,389 |
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8,004,389 |
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8,004,389 |
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8,004,389 |
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Net income (loss) per share attributable to common stockholders, basic and diluted |
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$ |
0.01 |
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$ |
0.01 |
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$ |
(0.02 |
) |
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$ |
(0.01 |
) |
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| Summary of Antidilutive Securities not Included in Diluted Net Loss Per Share Calculation |
For the three and six months ended June 30, 2025 and 2024, the following common stock options and convertible preferred stock were not included in the diluted net loss per share calculation because the effect would have been anti-dilutive:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Employee stock options |
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12,695,374 |
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11,970,329 |
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12,609,554 |
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11,888,912 |
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Redeemable convertible preferred stock |
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2,457,143 |
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2,457,143 |
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2,457,143 |
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2,457,143 |
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Non-redeemable convertible preferred stock |
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5,061,687 |
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5,061,687 |
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5,061,687 |
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5,061,687 |
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Total |
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20,214,204 |
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19,489,159 |
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20,128,384 |
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19,407,742 |
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