Related Party Transactions |
3 Months Ended |
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Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions On October 22, 2020, the Company entered into a software license agreement with Genesis Software which was amended and restated on January 1, 2023 and subsequently amended on June 10, 2025. Robert Ball, the Company’s Chief Executive Officer and Executive Chairman, is a co-founder and director of Genesis Software. Mr. Ball and Matthew Ahearn, the Company’s Chief Operating Officer and a director, are directors of Genesis Investment Holdings, LLC, which has an ownership interest in Genesis Software. In addition, cultivate(MD) Capital Accelerator Fund L.P. and Genesis Investment Holdings, LLC are investors in Genesis Software. The software licensing agreement has a 5-year term. The agreement required an upfront payment of $1,000, an incremental $500 payment when Food and Drug Administration clearance was obtained, and quarterly payments of royalties equal to 4% of the net sales price of each licensed product sold, until such time we have paid Genesis Software an aggregate of $7,000 under the software license agreement. For the three months ended March 31, 2026 and March 31, 2025, the Company paid Genesis Software $575 and $343, respectively, pursuant to the license agreement. Amounts owed under the agreement of $666 and $575 are included in accrued liabilities on the condensed balance sheets at March 31, 2026, and December 31, 2025, respectively. For the three months ended March 31, 2026 and March 31, 2025, the Company paid $2,336 and $571, respectively, for software development to Genesis Software. Amounts payable of $754 and $863 are included in accounts payable on the condensed balance sheets at March 31, 2026 and December 31, 2025, respectively. The Company has entered into a consulting agreement with Genesis Innovation Group, an entity under common ownership. The consulting agreement is currently on a year-to-year basis. The agreement requires compensation for services performed. If services performed are on an hourly basis, the Company shall be responsible to pay for hours actually worked by the consultant’s employees. The Company will reimburse the consultant for all reasonable expenses incurred in connection with performing services for the Company. For the three months ended March 31, 2026 and March 31, 2025, the Company paid Genesis Innovation Group $1,138 and $1,235, respectively. Amounts payable of $422 and $357 are included in accounts payable on the condensed balance sheets at March 31, 2026 and December 31, 2025, respectively.
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