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Balance Sheet Details (Tables) | 12 Months Ended
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Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract] |
Inventories | Inventories consist of the following (in thousands):
|  | December 31, |
|  | 2024 |  |  | 2023 |
Raw materials |  | $ | 19,378 |  |  | $ | 23,394 |
Work-in-process |  |  | — |  |  |  | 950 |
Finished goods |  |  | 155,886 |  |  |  | 112,498 |
Inventories |  | $ | 175,264 |  |  | $ | 136,842 |
Property and Equipment, Net | Property and equipment, net consist of the following (in thousands, except as indicated):
|  | Useful Life |  | December 31, |
|  | (in years) |  | 2024 |  |  | 2023 |
Surgical instruments |  | 4 |  | $ | 283,597 |  |  | $ | 224,357 |
Machinery and equipment |  | 7 |  |  | 12,710 |  |  |  | 11,633 |
Computer equipment |  | 3 |  |  | 32,082 |  |  |  | 5,778 |
Office furniture and equipment |  | 5 |  |  | 6,759 |  |  |  | 6,225 |
Leasehold improvements |  | various |  |  | 4,321 |  |  |  | 3,986 |
Construction in progress |  | n/a |  |  | 541 |  |  |  | 24,732 |
|  |  |  |  | 340,010 |  |  |  | 276,711 |
Less: accumulated depreciation |  |  |  |  | (183,616 | ) |  |  | (126,876 | )
Property and equipment, net |  |  |  | $ | 156,394 |  |  | $ | 149,835 |
Schedule of Goodwill | The change in the carrying amount of goodwill during the year ended December 31, 2024 included the following (in thousands):
December 31, 2023 |  | $ | 73,003 |
Foreign currency fluctuation |  |  | (2,027 | )
December 31, 2024 |  | $ | 70,976 |
Intangible Assets, Net | Intangible assets, net consist of the following (in thousands, except as indicated):
|  | Remaining Weighted Avg. Useful Life |  | Gross |  |  | Accumulated |  |  | Intangible |
December 31, 2024: |  | (in years) |  | Amount |  |  | Amortization |  |  | Assets, net |
Developed product technology |  | 5 |  | $ | 102,412 |  |  | $ | (38,055 | ) |  | $ | 64,357 |
Internally developed software |  | 3 |  |  | 4,283 |  |  |  | (1,515 | ) |  |  | 2,768 |
Trademarks and trade names |  | 7 |  |  | 5,267 |  |  |  | (1,991 | ) |  |  | 3,276 |
Customer relationships |  | 2 |  |  | 13,996 |  |  |  | (10,094 | ) |  |  | 3,902 |
Distribution network |  | – |  |  | 2,413 |  |  |  | (2,410 | ) |  |  | 3 |
Total amortized intangible assets |  |  |  |  | 128,371 |  |  |  | (54,065 | ) |  |  | 74,306 |
Software in development |  | n/a |  |  | 12,927 |  |  |  | — |  |  |  | 12,927 |
In-process research and development |  | n/a |  |  | 6,285 |  |  |  | — |  |  |  | 6,285 |
Total intangible assets |  |  |  | $ | 147,583 |  |  | $ | (54,065 | ) |  | $ | 93,518 |
|  |  |  | . |  |  |  |  |  |  |
|  | Remaining Weighted Avg. Useful Life |  | Gross |  |  | Accumulated |  |  | Intangible |
December 31, 2023: |  | (in years) |  | Amount |  |  | Amortization |  |  | Assets, net |
Developed product technology |  | 6 |  | $ | 106,782 |  |  | $ | (26,560 | ) |  | $ | 80,222 |
Trademarks and trade names |  | 7 |  |  | 5,588 |  |  |  | (1,561 | ) |  |  | 4,027 |
Customer relationships |  | 3 |  |  | 14,504 |  |  |  | (8,692 | ) |  |  | 5,812 |
Distribution network |  | 1 |  |  | 2,413 |  |  |  | (2,242 | ) |  |  | 171 |
Total amortized intangible assets |  |  |  |  | 129,287 |  |  |  | (39,055 | ) |  |  | 90,232 |
Software in development |  | n/a |  |  | 7,934 |  |  |  | — |  |  |  | 7,934 |
In-process research and development |  | n/a |  |  | 4,285 |  |  |  | — |  |  |  | 4,285 |
Total intangible assets |  |  |  | $ | 141,506 |  |  | $ | (39,055 | ) |  | $ | 102,451 |
Schedule of Intangible Assets, Future Expected Amortization Expense | Future amortization expense related to intangible assets as of December 31, 2024 is as follows (in thousands):
Year Ending December 31, |  |  |
2025 |  | $ | 15,561 |
2026 |  |  | 15,573 |
2027 |  |  | 13,351 |
2028 |  |  | 11,166 |
2029 |  |  | 9,640 |
Thereafter |  |  | 9,015 |
Total |  | $ | 74,306 |
Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consist of the following (in thousands):
|  | December 31, |
|  | 2024 |  |  | 2023 |
Payroll and payroll related |  | $ | 29,103 |  |  | $ | 29,207 |
Commissions and sales milestones |  |  | 25,778 |  |  |  | 21,414 |
Royalties |  |  | 6,703 |  |  |  | 7,968 |
Accrued legal expenses |  |  | 5,587 |  |  |  | 10,994 |
Taxes and fees |  |  | 2,505 |  |  |  | 1,985 |
Inventory in-transit |  |  | 2,418 |  |  |  | 2,251 |
Admin fees and rebates |  |  | 2,300 |  |  |  | 2,732 |
Interest |  |  | 1,402 |  |  |  | 1,753 |
Professional fees |  |  | 1,353 |  |  |  | 1,384 |
Other |  |  | 4,317 |  |  |  | 8,024 |
Total accrued expenses |  | $ | 81,466 |  |  | $ | 87,712 |
Schedule of Other Long-Term Liabilities | Other long-term liabilities consist of the following (in thousands):
|  | December 31, |
|  | 2024 |  |  | 2023 |
Income tax-related liabilities |  | $ | 5,077 |  |  | $ | 5,838 |
Contract liabilities |  |  | 3,131 |  |  |  | 2,561 |
Royalties |  |  | 1,532 |  |  |  | 1,065 |
Other |  |  | 1,684 |  |  |  | 1,739 |
Other long-term liabilities |  | $ | 11,423 |  |  | $ | 11,203 |

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