Balance Sheet Components

6 Months Ended

Jun. 30, 2023

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

6. Balance Sheet Components

Cash and Cash Equivalents

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

	June 30,		December 31,
	2023		2022
Cash	$	2,951	$	3,262
Cash equivalents:
Money market funds		9,084		13,141
Commercial paper		—		323
Corporate debt		—		2,197
Yankee CD		—		550
Total cash and cash equivalents	$	12,035	$	19,473

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 June 30, 2023.

Marketable Securities

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

	June 30, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Marketable securities - short-term
U.S. treasury and government agencies	$	55,305	$	—	$	(144	)	$	55,161
Commercial paper		347		—		—			347
Corporate debt		28,391		22		(29	)		28,384
Asset-backed securities		30,876		20		(76	)		30,820
Yankee CD		12,744		—		(12	)		12,732
Total marketable securities - short-term	$	127,663	$	42	$	(261	)	$	127,444

	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):

	June 30,			December 31,
	2023			2022
Furniture and fixtures, and equipment	$	1,586		$	1,577
Construction in progress		3,067			705
Machinery and equipment		2,079			928
Capitalized surgical equipment		11,511			9,248
Computer equipment		697			571
Leasehold improvements		6,351			6,434
Software		138			138
Total property and equipment		25,429			19,601
Less: accumulated depreciation and amortization		(5,994	)		(4,263	)
Property and equipment, net	$	19,435		$	15,338

Depreciation and amortization expense on property and equipment were $1.1 million and $0.4 million for the three months ended June 30, 2023 and 2022, respectively. Depreciation and amortization expense on property and equipment were $2.0 million and $0.8 million for the six months ended June 30, 2023 and 2022, respectively.

Accrued liabilities

Accrued liabilities consist of the following (in thousands):

	June 30,		December 31,
	2023		2022
Accrued royalties expense	$	1,740	$	2,299
Accrued interest		398		412
Accrued professional services		930		1,727
Other accrued expense		4,004		1,778
Total accrued liabilities	$	7,072	$	6,216

Other liabilities

Other liabilities consist of the following (in thousands):

	June 30,		December 31,
	2023		2022
Current portion of operating lease liabilities	$	961	$	339
Contingent consideration		2,814		—
Total other liabilities	$	3,775	$	339