Inventory and Other Deferred Costs

3 Months Ended

Mar. 31, 2026

Inventory And Other Deferred Costs Disclosure [Abstract]

3. Inventory and Other Deferred Costs

Inventory and other deferred costs consisted of the following:


	March 31, 2026		December 31, 2025
	(in thousands)
Raw materials	$	21,173	$	20,892
Work-in-process		1,729		2,922
Finished products		34,865		34,432
Other deferred costs		13,053		12,176
Total inventory and other deferred costs	$	70,820	$	70,422

The Company had inventory on consignment at customer sites of $1.5 million and $1.6 million as of March 31, 2026, and December 31, 2025, respectively.

In connection with the Company’s RestoreFlow allograft business, other deferred costs include costs incurred for the preservation of human tissues available for shipment, tissues currently in active processing, and tissues held in quarantine pending release to implantable status. By federal law, human tissues cannot be bought or sold. Therefore, the tissues the Company preserves are not held as inventory, and the costs the Company incurs to procure and process vascular tissues are instead accumulated and deferred. These costs include fixed and variable overhead costs associated with the cryopreservation process, including primarily direct labor costs, tissue recovery fees, inbound freight charges, indirect materials, and facilities costs. The Company expenses general and administrative expenses and selling expenses associated with the provision of these services as incurred.