v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in one reportable segment engaged in the design and sale of medical devices.
The accounting policies of the reportable segment are the same as those described in the summary of significant accounting policies. The Chief Operating Decision Maker (“CODM”) assesses performance for the reportable segment and decides how to allocate resources primarily based on gross margin that is also reported on the condensed consolidated statements of comprehensive income (loss). The measure of segment assets is reported on the condensed consolidated balance sheets as total assets.
The CODM uses gross profit to evaluate income (loss) generated from segment assets (return on assets) in deciding whether to reinvest profits or to apply them to other parts of the entity.
Net income (loss) is used to monitor budget versus actual results. The CODM also uses net income (loss) in competitive analysis by benchmarking to competitors. The competitive analysis along with the monitoring of budgeted versus actual results are used in assessing performance of the segment and in establishing management’s compensation.
Management has determined that Morgan Frank, CEO, is the CODM.
The following table sets forth our condensed consolidated statements of comprehensive income (loss) used by the CODM:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2025202420252024
Revenue$11,451 $9,360 $30,957 $22,308 
Cost of Revenues2,526 2,293 6,690 5,799 
Gross Margin8,925 7,067 24,267 16,509 
Operating Expenses:
General and administrative4,810 2,545 13,316 8,059 
Selling and marketing2,081 2,202 5,286 4,468 
Research and development345 161 747 519 
Depreciation and amortization222 206 588 568 
Operating Income1,467 1,953 4,330 2,895 
Total Other Income (Expense)8,858 (22,610)1,374 (21,519)
Net Income (Loss)$10,325 $(20,657)$5,704 $(18,624)