Redeemable Non-controlling Interest

12 Months Ended

Dec. 31, 2023

(15) Redeemable Non-controlling Interest

Upon consummation of the Company's acquisition of Kumovis, existing shareholders of Kumovis retained a 6.25% ownership interest in Kumovis that the Company reports as RNCI due to put and call terms that could result in the Company redeeming this remaining ownership interest at a future date (see Note 3). The following table shows changes in the reported RNCI balance during the year ended December 31, 2023:


(in thousands)	Year Ended December 31, 2023
Balance at December 31, 2022	$	1,760
Net loss	(265)
Redemption value in excess of carrying value	479
Translation adjustments	32
Balance at December 31, 2023	$	2,006

The following table shows changes in the reported RNCI balance during the year ended December 31, 2022:


(in thousands)	Year Ended December 31, 2022
Balance at January 1, 2022	$	—
Fair value at the date of acquisition	1,559
Net loss	(238)
Redemption value in excess of carrying value	596
Translation adjustments	(157)
Balance at December 31, 2022	$	1,760