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Commitments and Contingencies | 9 Months Ended
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Sep. 30, 2022
Commitments And Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Note 8. Commitments and Contingencies Purchase Obligation LENSAR is a party to various supply agreements for the manufacture and supply of certain components. The supply agreements commit LENSAR to a minimum purchase obligation of approximately $7,495 by December 31, 2023. LENSAR expects to meet these requirements. Royalty and Milestone Payments In connection with the acquisition of certain intellectual property, the Company paid $1,200 and $2,400 in milestone payments during the three and nine months ended September 30, 2022, respectively. The milestone payments were contingent upon regulatory clearance and commercialization of the ALLY System. In addition, the Company acquired certain intellectual property, which would result in additional royalty payments at a rate of 3% of certain revenue upon the phacoemulsification features being cleared for commercialization and operational in the ALLY System. Legal Matters The medical device market in which LENSAR participates is largely technology driven. As a result, intellectual property rights, particularly patents and trade secrets, play a significant role in product development and differentiation. The Company makes provisions for liabilities when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Management believes that there are currently no claims or legal actions that would reasonably be expected to have a material adverse effect on the Company’s results of operations, financial condition or cash flows.

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