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Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Summary of Disaggregation of Revenue
The following table sets forth the Company’s revenue for disposables, systems and service/other for the three and nine months ended September 30, 2024 and 2023 (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(unaudited)(unaudited)
Disposables$5,266 $1,862 $12,499 $4,106 
Service/Other— 198 528 710 
Total revenue$5,266 $2,060 $13,027 $4,816 
The following table sets forth the breakdown of the Company’s discontinued operations revenue for disposables and service/other for the three and nine months ended September 30, 2023 (in thousands):
Three Months EndedNine Months Ended
September 30, 2023September 30, 2023
Disposables$2,845 $8,632 
    Service/Other3331,248
Total revenue$3,178 $9,880 
Summary of Accounts, Notes, Loans and Financing Receivable
Accounts receivable recorded on the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023 consists of the following (in thousands):

September 30,
2024
December 31,
2023
(unaudited)
Trade accounts receivable$5,492 $1,993 
Earnouts receivable from Medtronic4,478 9,360 
Total accounts receivable$9,970 $11,353 
Summary of Fair Value, Liabilities Measured on Recurring Basis
The following tables classify the Company’s financial assets and liabilities measured at fair value on a recurring basis into the fair value hierarchy as of September 30, 2024 and December 31, 2023 (in thousands):

Fair Value Measurements as of September 30, 2024
(unaudited)
Quoted
Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Assets included in:
Cash and cash equivalents
Money market securities$11,788 $— $— $11,788 
Marketable securities at fair value
Commercial paper— — — — 
Total fair value$11,788 $— $— $11,788 
Liabilities included in:
Warrant liability$— $— $302 $302 
Total fair value$— $— $302 $302 
Fair Value Measurements as of December 31, 2023
Quoted
Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Assets included in:
Cash and cash equivalents
Money market securities$16,911 $— $— $16,911 
Marketable securities at fair value
U.S. treasury securities— 1,978 — 1,978 
Commercial paper— 497 — 497 
Yankee debt securities— 758 — 758 
Total fair value$16,911 $3,233 $— $20,144 
Liabilities included in:
Warrant liability$— $— $409 $409 
Total fair value$— $— $409 $409 
Summary of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents changes in Level 3 liabilities measured at fair value for the nine months ended September 30, 2024 (in thousands):
Warrant Liability
Balance, December 31, 2023$409 
Change in fair value(107)
Balance, September 30, 2024 (unaudited)$302 
Summary of Weighted-Average Unobservable Inputs to Measure Warranty Liability The fair value was estimated to be $0.0799 per warrant as of September 30, 2024 and the significant inputs used in the estimation of the fair value were as follows:
September 30, 2024
(unaudited)
Risk-free interest rate3.58%
Expected term in years5.8
Expected volatility200.0%
As of September 30, 2024 and December 31, 2023, the outstanding warrants to purchase the Company’s common stock consisted of the following:
Exercise PriceExpiration DateSeptember 30,
2024
December 31,
2023
(unaudited)
Warrants issued in 2015$5.25 1/30/253,808 3,808 
Warrants issued with 2018 Convertible Notes$0.10 6/7/28346,689 346,689 
Warrants issued with 2018 Term Loan$16.67 7/31/2826,998 26,998 
Warrants issued with 2019 Credit Agreement$16.67 5/20/29419,992 419,992 
Warrants issued with 2022 Credit Agreement$1.11 6/30/303,779,018 3,779,018 
Total Warrants4,576,505 4,576,505