Balance Sheet Components

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

5. Balance Sheet Components

Cash and Cash Equivalents

The Company’s cash and cash equivalents consisted of the following (in thousands):

	December 31,
	2022		2021
Cash	$	3,262	$	613
Cash equivalents:
Money market funds		13,141		105,220
Commercial paper		323		—
Corporate debt		2,197		—
Yankee CD		550		—
Total cash and cash equivalents	$	19,473	$	105,833

Included in cash as of December 31, 2022 is $0.9 million pledged to Silicon Valley Bank (“SVB”) as collateral for the Company's corporate credit card program and is restricted from use by the Company. There was no cash pledged to SVB as of December 31, 2021.

Marketable Securities

The Company’s available-for-sale marketable securities consisted of the following (in thousands):

	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Marketable securities - short-term
U.S. treasury and government agencies	$	16,472	$	11	$	(40	)	$	16,443
Corporate debt		23,376		31		(35	)		23,372
Asset-backed securities		13,892		27		(23	)		13,896
Yankee CD		8,066		10		(8	)		8,068
Total marketable securities - short-term	$	61,806	$	79	$	(106	)	$	61,779

Property and Equipment, Net

The company’s property and equipment, net consisted of the following (in thousands):

	December 31,
	2022			2021
Furniture and fixtures, and equipment	$	1,577		$	180
Construction in progress		705			126
Machinery and equipment		928			274
Capitalized surgical equipment		9,248			4,442
Computer equipment		571			160
Leasehold improvements		6,434			268
Software		138			138
Total property and equipment		19,601			5,588
Less: accumulated depreciation and amortization		(4,263	)		(2,739	)
Property and equipment, net	$	15,338		$	2,849

Depreciation and amortization expense was $2.1 million, $0.7 million and $1.2 million for the years ended December 31, 2022, 2021 and 2020, respectively.

In the fourth quarter of 2022, the Company recognized a $0.3 million impairment on a group of assets consisting of $0.2 million of property and equipment and $0.1 million related to the right-of-use asset associated with the lease of its previous corporate headquarters. The impairment loss is presented as a component of interest and other income, net in the statements of operations and comprehensive loss. The Company did not record impairment charges for its property and equipment, net for the years ended December 31, 2021 and 2020.

Accrued Liabilities

Accrued liabilities consist of the following (in thousands):

	December 31,
	2022		2021
Accrued royalties expense	$	2,299	$	1,522
Accrued interest		412		975
Accrued professional services		1,727		941
Other accrued expense		1,778		1,080
Total accrued liabilities	$	6,216	$	4,518