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BALANCE SHEET COMPONENTS

3 Months Ended

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

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