XML 22 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100 Investment Based on:
YearSummary Compensation Table Total for PEO
($)(1)
Compensation Actually Paid to PEO
($)(2)(5)
Average Summary Compensation Table Total for Non-PEO NEOs ($)(1)Average Compensation Actually Paid to Non-PEO NEOs
($)(2)
Company Total Shareholder Return
($)(3)
Peer Group Index Total Shareholder Return
($)(3)
Net Income
($)(in ’000s)
Revenue ($)(in ’000s)(4)
20246,521,87617,834,8492,809,6496,743,619191.9996.62(91,413)224,498
20236,088,8132,287,7002,492,8012,141,18999.9387.09(105,897)136,191
20224,131,45219,431,4861,109,2423,438,12899.0579.87(87,154)75,014
20211,374,74523,117,713834,6105,787,29359.6398.43(59,853)34,473
     
Company Selected Measure Name Revenue      
Named Executive Officers, Footnote Amounts reported in these columns represent the total compensation as reported in the Summary Compensation Table for Dr. Zadno, our PEO for each year and the average of the total compensation as reported in the Summary Compensation Table for our remaining NEOs for the relevant fiscal year, which captures the individuals indicated in the table below for each fiscal year:
YearPEONon-PEO NEOs
2024Reza Zadno, Ph.DKevin Waters, Hisham Shiblaq, and Alaleh Nouri
2023Reza Zadno, Ph.DKevin Waters, Hisham Shiblaq, and Alaleh Nouri
2022Reza Zadno, Ph.D
Kevin Waters, Hisham Shiblaq, and Alaleh Nouri
2021Reza Zadno, Ph.DKevin Waters and Hisham Shiblaq
     
PEO Total Compensation Amount $ 6,521,876 $ 6,088,813 $ 4,131,452 $ 1,374,745
PEO Actually Paid Compensation Amount $ 17,834,849 2,287,700 19,431,486 23,117,713
Adjustment To PEO Compensation, Footnote Amounts reported in these columns represent compensation actually paid (calculated in accordance with SEC rules) to Dr. Zadno for each year and average of the compensation actually paid to the remaining NEOs and reflects the following adjustments from total compensation reported in the Summary Compensation Table:
2024
AdjustmentsPEO ($)Average Non-PEO NEOs ($)
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY
(5,210,326)(2,074,959)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End
7,763,5353,091,802
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date
189,32475,410
Increase/deduction for Awards Granted during Prior FYs that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End (5)
6,615,3982,136,510
Increase/deduction for Awards Granted during Prior FYs that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date

1,955,042705,207
TOTAL ADJUSTMENTS11,312,9733,933,970
The fair value valuation adjustments outlined above to calculate the compensation actually paid included assumptions that differed from those used in the Company’s grant date fair value calculations. For stock options, the fair value is measured using Black-Scholes option pricing model as of each measurement date including updated assumptions based on an analysis of the historical volatility of a peer group of publicly traded companies, the expected term for options that are expected to remain outstanding based on the simplified method, the measurement date stock price, and the risk-free interest rate based on U.S. Treasury yield for zero-coupon U.S. Treasury notes. For RSUs, the fair value is measured based on the closing fair market value of the Company’s common stock as of each measurement date. For PSUs, the fair value is measured based on the closing fair market value of the Company’s common stock as of each measurement date assuming the target performance level.
     
Non-PEO NEO Average Total Compensation Amount $ 2,809,649 2,492,801 1,109,242 834,610
Non-PEO NEO Average Compensation Actually Paid Amount $ 6,743,619 2,141,189 3,438,128 5,787,293
Adjustment to Non-PEO NEO Compensation Footnote Amounts reported in these columns represent compensation actually paid (calculated in accordance with SEC rules) to Dr. Zadno for each year and average of the compensation actually paid to the remaining NEOs and reflects the following adjustments from total compensation reported in the Summary Compensation Table:
2024
AdjustmentsPEO ($)Average Non-PEO NEOs ($)
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY
(5,210,326)(2,074,959)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End
7,763,5353,091,802
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date
189,32475,410
Increase/deduction for Awards Granted during Prior FYs that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End (5)
6,615,3982,136,510
Increase/deduction for Awards Granted during Prior FYs that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date

1,955,042705,207
TOTAL ADJUSTMENTS11,312,9733,933,970
The fair value valuation adjustments outlined above to calculate the compensation actually paid included assumptions that differed from those used in the Company’s grant date fair value calculations. For stock options, the fair value is measured using Black-Scholes option pricing model as of each measurement date including updated assumptions based on an analysis of the historical volatility of a peer group of publicly traded companies, the expected term for options that are expected to remain outstanding based on the simplified method, the measurement date stock price, and the risk-free interest rate based on U.S. Treasury yield for zero-coupon U.S. Treasury notes. For RSUs, the fair value is measured based on the closing fair market value of the Company’s common stock as of each measurement date. For PSUs, the fair value is measured based on the closing fair market value of the Company’s common stock as of each measurement date assuming the target performance level.
     
Compensation Actually Paid vs. Total Shareholder Return
PVP Chart (1).jpg
     
Compensation Actually Paid vs. Net Income
PVP Chart (2).jpg
     
Compensation Actually Paid vs. Company Selected Measure
PVP Chart (3).jpg
     
Total Shareholder Return Vs Peer Group Assumes $100 invested on September 15, 2021, the closing price on the first day of trading of our common stock, including reinvestment of dividends. Peer Group Index Total Shareholder Return represents the cumulative Total Shareholder Return of the S&P Health Care Equipment Index.      
Tabular List, Table
Pay Versus Performance Tabular List

We believe the following performance measures represent the most important performance measures used by us to link compensation actually paid to our executive officers for 2024:

a.Revenue
b.Adjusted EBITDA
c.US procedures completed using our robotic systems
     
Total Shareholder Return Amount $ 191.99 99.93 99.05 59.63
Peer Group Total Shareholder Return Amount 96.62 87.09 79.87 98.43
Net Income (Loss) $ (91,413) $ (105,897) $ (87,154) $ (59,853)
Company Selected Measure Amount 224,498 136,191 75,014 34,473
PEO Name Reza Zadno, Ph.D Reza Zadno, Ph.D Reza Zadno, Ph.D Reza Zadno, Ph.D
Additional 402(v) Disclosure Reflects the adjustments calculated in accordance with the methodology above to the value of options granted prior to our initial public offering in September 2021.      
Measure:: 1        
Pay vs Performance Disclosure        
Non-GAAP Measure Description The Company selected Revenue as the Company-Selected Measure due to it being an important financial measure that helps link Compensation Actually Paid to the Company’s executive officers for the most recently completed fiscal year. Specifically, Revenue is the largest component of the formula to determine annual incentive cash compensation.      
PEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 11,312,973      
PEO | Measure:: 1        
Pay vs Performance Disclosure        
Name Revenue      
PEO | Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted EBITDA      
PEO | Measure:: 3        
Pay vs Performance Disclosure        
Name US procedures completed using our robotic systems      
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (5,210,326)      
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 7,763,535      
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 6,615,398      
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 189,324      
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,955,042      
Non-PEO NEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,933,970      
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,074,959)      
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,091,802      
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,136,510      
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 75,410      
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 705,207