Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 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 Innovations, LLC (“Genesis Software”), which was amended and restated on January 1, 2023, and subsequently amended on June 10, 2025 (the “License Agreement”). 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. The License Agreement has a 5-year term and 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 License Agreement. As of June 30, 2026, the Company has made all payments under the License Agreement and has no future payment obligations pursuant to the agreement. For the three and six months ended June 30, 2026, the Company paid Genesis Software $666 and $1,241, respectively, pursuant to the License Agreement. For the three and six months ended June 30, 2025, the Company paid Genesis Software $398 and $741, respectively, pursuant to the License Agreement. Amounts owed under the agreement of $0 and $575 are included in accrued liabilities on the condensed balance sheets at June 30, 2026, and December 31, 2025, respectively. For the three and six months ended June 30, 2026, the Company paid $1,994 and $4,330, respectively, for software development to Genesis Software. For the three and six months ended June 30, 2025, the Company paid $453 and $1,024, respectively for software development to Genesis Software. Amounts payable of $982 and $863 are included in accounts payable on the condensed balance sheets at June 30, 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 and six months ended June 30, 2026, the Company paid Genesis Innovation Group $1,261 and $2,399, respectively. For the three and six months ended June 30, 2025, the Company paid Genesis Innovation Group $1,060 and $2,295, respectively. Amounts payable of $396 and $357 are included in accounts payable on the condensed balance sheets at June 30, 2026 and December 31, 2025, respectively.
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