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BALANCE SHEET COMPONENTS | 3 Months Ended
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Mar. 31, 2025
BALANCE SHEET COMPONENTS |
BALANCE SHEET COMPONENTS |
| 3. | BALANCE SHEET COMPONENTS
Inventories The Company had the following major classes of inventories: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2025 |  | December 31, 2024
Raw materials | ​ | $ | 546,805 | ​ | $ | 569,824
Work in process | ​ |  | 621,556 | ​ |  | 502,525
Finished goods | ​ |  | 1,850,163 | ​ |  | 1,660,558
Inventories | ​ | $ | 3,018,524 | ​ | $ | 2,732,907
​ Property and equipment The Company’s property and equipment consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Depreciation/
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Amortization
​ |  | March 31, 2025 |  | December 31, 2024 |  | Period
Furniture and fixtures | ​ | $ | 1,526,262 | ​ | $ | 1,453,623 |  | 7 years
Equipment and computers | ​ |  | 5,494,323 | ​ |  | 5,491,048 |  | 3 to 7 years
Leasehold improvements | ​ |  | 6,291,166 | ​ |  | 6,282,710 |  | Lesser of term of lease or estimated useful life
​ | ​ |  | 13,311,751 | ​ |  | 13,227,381 | ​ | ​
Less accumulated depreciation and amortization | ​ |  | 4,588,798 | ​ |  | 4,224,998 |  |
Property and Equipment, Net | ​ | $ | 8,722,953 | ​ | $ | 9,002,383 |  |
​ Depreciation expense for the three months ended March 31, 2025 and 2024, amounted to $305,700 and $342,200, respectively. Other assets Other assets consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2025 |  | December 31, 2024
Patent applications pending | ​ | $ | 1,626,895 | ​ | $ | 1,612,118
Patents issued | ​ |  | 3,390,538 | ​ |  | 3,390,768
Less accumulated amortization of patents issued | ​ |  | (1,312,727) | ​ |  | (1,254,850)
Patents, net | ​ |  | 3,704,706 | ​ |  | 3,748,036
Other | ​ |  | 50,323 | ​ |  | 22,645
Other Assets | ​ | $ | 3,755,029 | ​ | $ | 3,770,681
​ Patent amortization expenses amounted to $62,800 and $55,100 for the three months ended March 31, 2025 and 2024, respectively. Patent amortization expense for the next five years and thereafter is scheduled as follows: ​
​ | ​ | ​ | ​
2025 |  | $ | 193,471
2026 | ​ |  | 256,820
2027 | ​ |  | 251,295
2028 | ​ |  | 238,426
2029 | ​ |  | 238,426
Thereafter | ​ |  | 899,373
Scheduled amortization of patents issued | ​ | $ | 2,077,811
​ Accrued expenses and other current liabilities Accrued expenses and other current liabilities consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2025 |  | December 31, 2024
Accrued salaries and commissions | ​ | $ | 3,117,548 | ​ | $ | 3,387,675
Clinical studies | ​ |  | 609,398 | ​ |  | 589,577
Deferred revenue | ​ |  | 546,028 | ​ |  | 419,331
Professional fees | ​ | ​ | 462,425 | ​ | ​ | 769,577
Royalties | ​ | ​ | 257,883 | ​ | ​ | 275,409
Goods received not invoiced | ​ | ​ | 146,584 | ​ | ​ | 86,516
Other | ​ |  | 796,925 | ​ |  | 503,585
Accrued expenses and other current liabilities | ​ | $ | 5,936,791 | ​ | $ | 6,031,670
​

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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