v3.26.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2026
Summary of Significant Accounting Policies  
Schedule of the items included within net loss regularly provided to the CODM

Three months ended June 30, 

Six months ended June 30, 

2026

2025

2026

2025

Revenue

$

19,291

$

20,197

$

38,350

$

38,717

Cost of revenue (excluding amortization of intangible assets)

 

5,253

 

5,997

 

11,697

 

11,910

Amortization of intangible assets

 

95

 

95

 

190

 

190

Gross profit

 

13,943

 

14,105

 

26,463

 

26,617

Sales and marketing:

 

  ​

 

  ​

 

  ​

 

  ​

Sales and sales management

 

10,165

 

11,216

 

20,961

 

22,830

International

 

2,062

 

1,451

 

4,021

 

2,808

Other sales and marketing (a)

 

4,215

 

4,190

 

7,997

 

7,827

Total sales and marketing

 

16,442

 

16,857

 

32,979

 

33,465

General and Administrative:

 

 

 

 

Finance and Legal

1,996

1,968

4,022

3,919

Other general and administrative (b)

 

2,065

 

2,158

 

4,205

 

4,043

Total general and administrative

 

4,061

 

4,126

 

8,227

 

7,962

Research and Development:

Clinical

1,164

872

2,223

1,780

Regulatory and quality

 

547

427

 

1,087

867

Other research and development (c)

1,012

904

1,756

2,096

Total research and development

2,723

2,203

5,066

4,743

Other segment items (d)

(1,979)

(842)

(3,726)

(1,634)

Net loss

$

(11,262)

$

(9,923)

$

(23,535)

$

(21,187)

(a) Other sales and marketing includes strategy, analytics and allocated facility expenses.

(b) Other general and administrative includes executive, human resources, information technology and allocated facility expenses.

(c) Other research and development includes engineering and allocated facility expenses.

(d) Other segment items include other operating income and other expenses as disclosed in the consolidated statements of operations and comprehensive loss; interest expense, loss on extinguishment of debt, other income and income tax expense.

Schedule of reconciliation of all captions of cash, cash equivalents and restricted cash

June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

Cash and cash equivalents

$

30,424

$

34,977

Restricted cash

 

200

 

265

Total cash and cash equivalents and restricted cash shown in statements of cash flows

$

30,624

$

35,242

Schedule of Disaggregation of Revenue

The following table presents revenue disaggregated by the Company’s portfolio of products (in thousands):

Three months ended June 30, 

Six months ended June 30, 

2026

2025

2026

2025

OviTex

$

13,308

$

12,487

$

25,927

$

24,596

OviTex PRS

5,460

7,333

11,341

13,377

Other

523

377

1,082

744

Total revenue

$

19,291

$

20,197

$

38,350

$

38,717

Schedule of fair value of assets and liabilities measured on recurring basis

The following fair value hierarchy table presents information about each major category of the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands):

Fair value measurement at reporting date using

Quoted prices in

active markets

Significant other

Significant

for identical

observable

unobservable

assets

inputs

inputs

  ​ ​ ​

(Level 1)

  ​ ​ ​

(Level 2)

  ​ ​ ​

(Level 3)

June 30, 2026:

Cash equivalents – money market fund

$

29,279

$

$

December 31, 2025:

Cash equivalents – money market fund

$

47,068

$

$

Schedule of dilutive securities excluded

Six months ended June 30, 

2026

2025

Stock options

3,485,351

 

2,817,979

Unvested restricted stock units

2,015,615

1,359,116

Common stock warrants

88,556

88,556

Common stock warrants issued with credit agreement

2,000,000

Total

 

7,589,522

 

4,265,651