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Related Party Transactions
 9 Months Ended
Sep. 30, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
On October 22, 2020, the Company entered into a software license agreement with Genesis Software which was amended and restated on June 10, 2025. Robert Ball, the Company’s Chief Executive Officer and Executive Chairman, is a co-founder and director of Genesis Software. Mr. Ball and Matthew Ahearn, the Company’s Chief Operating Officer and a director, are directors of Genesis Investment Holdings, LLC, which has an ownership interest in Genesis Software. In addition, cultivate(MD) Capital Accelerator Fund L.P. and Genesis Investment Holdings, LLC, each beneficial owners of more than 5% of our capital stock, are investors in Genesis Software. The software licensing agreement has a 5-year term. The agreement required an upfront payment of $1,000, an incremental $500 payment when Food and Drug Administration (“FDA”) clearance was obtained, and quarterly payments of royalties equal to 4% of the net sales price of each licensed product sold, until such time we have paid Genesis Software an aggregate of $7,000 under the software license agreement. For the three and nine months ended September 30, 2025, the Company paid Genesis Software $433 and $1,174, respectively, pursuant to the license agreement. For the three and nine months ended September 30, 2024, the Company paid Genesis Software $325 and $877, respectively, pursuant to the license agreement.
For the three and nine months ended September 30, 2025, the Company paid $302 and $1,326, respectively, for software development to Genesis Software. For the three and nine months ended September 30, 2024, the Company paid $506 and $1,649, respectively, for software development to Genesis Software. Amounts payable of $445 and $276 are included in accounts payable on the Condensed Balance Sheets at September 30, 2025 and December 31, 2024, respectively.
The Company has entered into a consulting agreement with Genesis Innovation Group, an entity under common ownership. The consulting agreement is currently on a year-to-year basis. The agreement requires compensation for services performed. If services performed are on an hourly basis, the Company shall be responsible to pay for hours actually worked by the consultant’s employees. The Company will reimburse the consultant for all reasonable expenses incurred in connection with performing services for the Company. For the three and nine months ended September 30, 2025, the Company paid Genesis Innovation Group $1,093 and $3,388, respectively. For the three and nine months ended September 30, 2024, the Company paid Genesis Innovation Group $1,136 and $2,983, respectively. Amounts payable of $588 and $537 are included in accounts payable on the Condensed Balance Sheets at September 30, 2025 and December 31, 2024, respectively.
During the first quarter of 2024, Robert Ball, the Company’s Chief Executive Officer and Executive Chairman, was an investor in Revelation Medical Devices (“RMD”), which manufactures surgical instruments used during procedures involving our systems. After the first quarter of 2024, Mr. Ball is no longer an investor in RMD. For the nine months ended September 30, 2024, the Company paid RMD $859.