0000950170-25-029137 | 10-K | XBRL Viewer | Organogenesis Holdings INC

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Goodwill and Intangible Assets - Estimated future annual amortization expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 3,323
2026	3,043
2027	2,283
2028	1,968
2029	1,094
Thereafter	757
Net Book Value	$ 12,468	$ 15,871

Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information


	Year Ended December 31,
	2024		2023		2022
Net revenue	$	482,043	$	433,140	$	450,893
Less:
Cost of goods sold		115,741		106,481		105,019
Clinical expense		23,614		19,377		15,156
Salaries, wages, and other compensation (a)		181,773		177,396		179,947
Other segment items (b)		160,054		124,941		135,239
Segment net income		861		4,945		15,532

Reconciliation of segment net income:
Reconciling items		—		—		—
Consolidated net income	$	861	$	4,945	$	15,532

(a) Salaries, wages, and other compensation includes: commissions, share-based compensation, and payroll taxes and benefits.

(b) Other segment items includes: impairment of property and construction, write down of capitalized internal-use software costs, internal technology, rent and other facilities expense, royalty expense, travel and entertainment expense, marketing expense, depreciation and amortization, and interest expense.

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Unvested Restricted Stock Units

The activity of restricted stock units is set forth below:


				Weighted
				Average
	Number			Grant Date
	of Shares			Fair Value
Unvested at December 31, 2023		3,898,331		$	3.54
Granted		2,156,874		$	3.36
Vested		(1,434,809	)	$	3.67
Canceled/Forfeited		(91,066	)	$	4.16
Unvested at December 31, 2024		4,529,330		$	3.40

Schedule of Fair Value of Stock Options Granted to Employees and Directors

The assumptions that the Company used to determine the grant-date fair value of stock options granted during these periods are as follows, presented on a weighted-average basis:


	Year Ended
	December 31,
	2024			2023

Risk-free interest rate		4.27	%		4.00	%
Expected term (in years)		6.21			6.25
Expected volatility		52.24	%		51.00	%
Expected dividend yield		0.0	%		0.0	%
Underlying stock price	$	3.43		$	2.47

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity since December 31, 2023:


						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
	Number of			Exercise		Contractual		Intrinsic
	Shares			Price		Term		Value
						(in years)
Options outstanding as of December 31, 2023		9,340,046		$	4.60		6.66	$	10,267
Granted		2,640,601		$	3.43
Exercised		(1,225,435	)	$	1.02			$	3,044
Canceled / forfeited		(191,332	)	$	3.65
Outstanding as of December 31, 2024		10,563,880		$	4.74		7.26	$	2,521
Options exercisable as of December 31, 2024		4,419,875		$	5.89		5.68	$	715
Options vested or expected to vest as of December 31, 2024		9,709,088		$	4.86		7.14	$	2,278

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

3. Revenue from Contracts with Customers

The following table sets forth revenue by product category:


	Year Ended December 31,
	2024		2023		2022
Advanced Wound Care	$	453,639	$	405,514	$	422,231
Surgical and Sports Medicine		28,404		27,626		28,662
Total revenue	$	482,043	$	433,140	$	450,893

For all periods presented, net revenue generated outside the United States represented less than 1% of total net revenue.

For the years ended December 31, 2024, 2023, and 2022, the Company recorded GPO fees of $6,102, $5,623 and $6,654, respectively, as a direct reduction of revenue.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Allowance for credit losses	$ 9,576	$ 6,860
Series A redeemable convertible preferred stock, par value	$ 0.0001	$ 0.0001
Series A redeemable convertible preferred stock, shares authorized	130,000	0
Series A redeemable convertible preferred stock, shares issued	130,000	0
Series A redeemable convertible preferred stock, shares outstanding	130,000	0
Series A redeemable convertible preferred stock, liquidation preference	$ 131,387	$ 0
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	870,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	126,458,784	132,044,944
Common stock, shares outstanding	125,730,236	131,316,396

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 861,000	$ 4,945,000	$ 15,532,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	13,623,000	10,448,000	5,845,000
Amortization of intangible assets	3,403,000	4,918,000	4,883,000
Reduction in the carrying value of right-of-use assets	8,348,000	8,083,000	7,303,000
Non-cash interest expense	394,000	427,000	434,000
Deferred interest expense	305,000	490,000	501,000
Deferred tax expense (benefit)	(10,719,000)	2,012,000	1,980,000
Loss on disposal of property and equipment	1,140,000	235,000	4,482,000
Loss on lease termination	0	559,000	0
Loss on extinguishment of term loan	215,000	0	0
Provision recorded for credit losses	3,938,000	1,297,000	1,781,000
Adjustment for excess and obsolete inventories	8,210,000	6,580,000	9,648,000
Stock-based compensation	10,578,000	8,996,000	6,552,000
Impairment of property and construction (Note 8)	18,842,000	0	0
Write down of capitalized internal-use software costs (Note 8)	3,959,000	0	0
Changes in operating assets and liabilities:
Accounts receivable	(31,800,000)	5,539,000	(8,770,000)
Inventories	(6,204,000)	(8,179,000)	(9,410,000)
Prepaid expenses and other current and other assets	(2,549,000)	(10,115,000)	(378,000)
Operating leases	(14,066,000)	(8,439,000)	(7,006,000)
Accounts payable	(2,372,000)	(108,000)	3,260,000
Accrued expenses and other current liabilities	9,164,000	3,138,000	(11,850,000)
Other liabilities	(1,062,000)	91,000	72,000
Net cash provided by operating activities	14,208,000	30,917,000	24,859,000
Cash flows from investing activities:
Purchases of property and equipment	(10,032,000)	(24,364,000)	(33,898,000)
Net cash used in investing activities	(10,032,000)	(24,364,000)	(33,898,000)
Cash flows from financing activities:
Term loan repayments under the 2021 Credit Agreement	(66,563,000)	(4,688,000)	(2,813,000)
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs	120,688,000	0	0
Payments for the repurchase of common stock	(25,479,000)	0	0
Principal repayments of finance lease obligations	(1,081,000)	(485,000)	(200,000)
Proceeds from the exercise of stock options	1,247,000	0	2,070,000
Payments of withholding taxes in connection with RSUs vesting	(1,175,000)	(332,000)	(648,000)
Payments of deferred acquisition consideration	0	0	(608,000)
Net cash provided by (used in) financing activities	27,637,000	(5,505,000)	(2,199,000)
Change in cash, cash equivalents and restricted cash	31,813,000	1,048,000	(11,238,000)
Cash, cash equivalents and restricted cash, beginning of year	104,338,000	103,290,000	114,528,000
Cash, cash equivalents and restricted cash, end of year	136,151,000	104,338,000	103,290,000
Supplemental disclosure of cash flow information:
Cash paid for interest	4,970,000	5,436,000	2,649,000
Cash paid for income taxes	6,965,000	3,052,000	1,201,000
Supplemental disclosure of non-cash investing and financing activities:
Cumulative effect adjustment for adoption of ASU No. 2016-13	0	615,000	0
Deferred acquisition consideration and earnout liability recorded for business acquisition	0	0	828,000
Change in purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities	(432,000)	841,000	1,928,000
Right-of-use assets obtained through operating lease obligations	5,109,000	5,869,000	1,350,000
Right-of-use assets obtained through finance lease obligations	0	3,454,000	0
Redeemable convertible preferred stock issuance costs included in accrued expenses	67,000	0	0
Prepaid rent reclassified to right-of-use assets	230,000
Accretion to redemption value and cumulative dividends on redeemable convertible preferred stock	$ 1,798,000	$ 0	$ 0

Related Party Transactions

12 Months Ended

Dec. 31, 2024

Related Party Transactions

1. Related Party Transactions

Lease obligations to affiliates, including accrued but unpaid lease obligations, purchase of an asset under a finance lease with an affiliate, and renewal of leases with affiliates are further described in Note 19, Leases.

In November 2024, the Company repurchased 7,921,731 shares of Class A common stock from certain existing stockholders of the Company, including certain of its directors and their affiliates. These transactions are further described in Note 14, Stockholders’ Equity.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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+ Details

Long-Term Debt Obligations - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Aug. 06, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Loss on the extinguishment of debt		$ (215)	$ 0	$ 0
Secured debt		0	66,563
Term payment		66,563	4,688	$ 2,813
2021 Credit Agreement
Financial covenants	Under the 2021 Credit Agreement as amended by the 2024 Amendment, the Company is required to comply with certain financial covenants including the Consolidated Fixed Charge Coverage Ratio and Consolidated Total Net Leverage Ratio, tested quarterly. In addition, the Company is also required to make representations and warranties and comply with certain non-financial covenants that are customary in loan agreements of this type, including restrictions on the payment of dividends, repurchase of stock, incurrence of indebtedness, dispositions and acquisitions.
Debt Instrument, Description of Variable Rate Basis	For SOFR Loans, the interest rate was a per annum interest rate equal to the Adjusted Term SOFR plus an Applicable Margin between 2.00% to 3.25% based on the Total Net Leverage Ratio. For ABR Loans, the interest rate was equal to (1) the highest of (a) the Wall Street Journal Prime Rate, (b) the Federal Funds Rate plus 0.50% and (c) the Adjusted Term SOFR rate plus 1.0%, plus (2) an Applicable Margin between 1.00% to 2.25% based on the Total Net Leverage Ratio.
2021 Credit Agreement \| Maximum [Member] \| ABR Loans [Member]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Applicable Margin [Member]
Debt instrument interest and applicable margin rate percentage	2.25%
2021 Credit Agreement \| Maximum [Member] \| SOFR Loans
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Applicable Margin [Member]
Debt instrument interest and applicable margin rate percentage	3.25%
2021 Credit Agreement \| Minimum [Member] \| ABR Loans [Member]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Applicable Margin [Member]
Debt instrument interest and applicable margin rate percentage	1.00%
2021 Credit Agreement \| Minimum [Member] \| SOFR Loans
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Applicable Margin [Member]
Debt instrument interest and applicable margin rate percentage	2.00%
Term Loan [Member] \| 2021 Credit Agreement
Loss on the extinguishment of debt		215
Secured debt		0	$ 66,563
Debt Issuance Costs, Net	$ 604
Debt instrument face amount	75,000
Term Loan [Member] \| 2021 Credit Agreement \| September 30, 2021 through and including June 30, 2022
Debt instrument quarterly installment payment to original principal amount	469
Term Loan [Member] \| 2021 Credit Agreement \| September 30, 2022 through and including June 30, 2023
Debt instrument quarterly installment payment to original principal amount	938
Term Loan [Member] \| 2021 Credit Agreement \| September 30, 2023 through and including June 30, 2025
Debt instrument quarterly installment payment to original principal amount	1,406
Term Loan [Member] \| 2021 Credit Agreement \| September 30, 2025 and the last day of each quarter thereafter until August 6, 2026
Debt instrument quarterly installment payment to original principal amount	1,875
Revolving Credit Facility [Member] \| 2021 Credit Agreement
Line of credit		0
Maximum borrowing capacity	125,000	$ 125,000
Debt Issuance Costs, Net	$ 1,223
Revolving Credit Facility [Member] \| 2021 Credit Agreement \| Maximum [Member]
Line of credit facility unused capacity commitment fee percentage	0.45%
Revolving Credit Facility [Member] \| 2021 Credit Agreement \| Minimum [Member]
Line of credit facility unused capacity commitment fee percentage	0.25%

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

10. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	December 31,
	2024		2023
Personnel costs	$	23,836	$	18,287
Royalties		7,381		3,075
Accrued but unpaid lease obligations and interest (Note 17)		—		2,326
Accrued milestone payment (Note 20)		2,500		2,500
Accrued taxes		4,286		2,799
Other		1,450		1,087
	$	39,453	$	30,074

Acquisition - Additional Information (Detail)	12 Months Ended
Acquisition - Additional Information (Detail)	Dec. 31, 2022 shares
Common Stock \| CPN Biosciences, LLC
Issuance of common stock associated with business acquisition	203,485

Leases - Summary of Maturities of Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Operating leases, 2025	$ 11,119
Operating leases, 2026	11,955
Operating leases, 2027	13,586
Operating leases, 2028	9,210
Operating leases, 2029	9,475
Operating leases, Thereafter	91,341
Operating leases, Total lease payments	146,686
Operating leases, Less: interest	(8,330)
Operating leases, Total lease liabilities	138,356
Finance leases, 2025	1,278
Finance leases, 2026	737
Finance leases, Total lease payments	2,015
Finance leases, Less: interest	(127)
Finance leases, Total lease liabilities	$ 1,888	$ 2,969

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
Federal valuation allowance	0.00%	0.00%	0.00%
State valuation allowance	0.00%	0.00%	0.00%
Return to provision and other adjustments	34.10%	(1.40%)	(1.60%)
Prior period correction	0.00%	0.00%	(8.50%)
Executive compensation limited by 162(m)	(24.80%)	12.00%	3.10%
State and local income taxes	3.80%	8.80%	6.80%
Meals and entertainment	(3.80%)	5.90%	0.00%
Nondeductible lobbying expenses	(6.40%)	1.70%	0.40%
Stock-based compensation	11.80%	1.30%	0.30%
Foreign rate differential	0.40%	(0.10%)	0.10%
Uncertain tax position reserves	22.10%	0.70%	0.30%
Nondeductible fringe benefits	(4.50%)	1.00%	0.40%
State credits	0.00%	1.10%	0.90%
Other nondeductible expenses	(0.90%)	0.40%	0.20%
Research and development credits	147.90%	0.00%	0.00%
Nondeductible transaction costs	(70.20%)	0.00%	0.00%
Effective income tax rate	130.50%	52.40%	23.40%

Commitments and Contingencies

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure

. Commitments and Contingencies

License and Manufacturing Agreement

In November 2023, the Company entered into a trademark license and manufacturing agreement with Vivex Biologics, Inc. (Vivex) to sell its CYGNUS Dual (Dual) and CYGNUS Matrix (Matrix) products, with the option to license the VIA Matrix (VIA) products. In March 2024, the Company exercised the option to license VIA, and accordingly in July 2024, entered into the first amendment to the trademark license and manufacturing agreement (together with the original agreement, the Vivex Agreement).

The Company paid an upfront licensing fee to Vivex to sell Dual and Matrix, and also agreed to pay a fixed milestone payment for Dual in the event that its average sales price (ASP) is published by certain government agencies for a specified period of time, which the Company determined was probable. Additionally, the Company pays a low double-digit royalty on the Net Sales of Dual and VIA, and a high single-digit royalty on the Net Sales of Matrix, respectively, during the royalty term, as defined in the Vivex Agreement. The royalty term is commensurate with the initial term of the contract and will continue for each subsequent renewal period. The initial term of the agreement expires on December 31, 2026 and can be renewed for up to five additional one-year terms.

The Company recorded $5,000 in prepaid and other current assets and other assets for the payment of the upfront licensing fee, which is recognized as expense on a straight-line basis over the estimated life of the arrangement, which the Company determined to be three years, commensurate with the initial term of the contract. In December 2023, the Company recorded $2,500 in prepaid and other current assets, other assets, and accrued expenses and other current liabilities for the milestone payment, which it remitted in

January 2025. The Company remitted the option payment of $5,000 for VIA in April 2024. As of December 31, 2024 and 2023, $3,158 and $3,158 is recorded in prepaid and other current assets and $2,368 and $4,737 is recorded in other assets, respectively, in the accompanying consolidated balance sheets for the upfront licensing fees and milestone payment.

Royalties

The Company entered into a license agreement with a university for certain patent rights related to the development, use and production of one of its advanced wound care products. Under this agreement, the Company incurred a royalty based on a percentage of net product sales, for the use of these patents until the patents expired, which was in November 2006. In December 2024, the Company no longer contractually owed the royalties of $1,187 it had accrued, and accordingly at such time recorded an adjustment of $(1,187) in selling, general and administrative expenses in the consolidated statements of operations and comprehensive income. As of December 31, 2024 and 2023, accrued royalties totaled $0 and $1,187 respectively, and were classified as part of accrued expenses and other current liabilities on the Company’s consolidated balance sheets. There was no royalty expense incurred during the years ended December 31, 2023, and 2022, related to this agreement.

In October 2017, the Company entered into a license agreement with a third party. Under the license agreement, the Company is required to pay royalties based on a percentage of net sales of the licensed product that occur, after December 31, 2017, through the expiration of the underlying patent in October 2026, subject to minimum royalty payment provisions.

The Company recorded $24,736, $5,456, and $7,279 in total royalty expense for the years ended December 31, 2024, 2023, and 2022, respectively, within selling, general and administrative expenses on the consolidated statements of operations and comprehensive income.

Legal Matters

In conducting its activities, the Company, from time to time, is subject to various claims and also has claims against others. In management’s opinion, the ultimate resolution of such claims would not have a material effect on the financial position, operating results or cash flows of the Company. The Company accrues for these claims when amounts due are probable and estimable.

Other Commitments

As of December 31, 2024, we had commitments totaling $26,303 that are legally binding and enforceable. These commitments include purchase obligations for goods and services.

Share-Based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Number of Shares Outstanding	9,340,046
Number of Shares Granted	2,640,601	3,554,528
Number of Shares Exercised	(1,225,435)
Number of Shares Canceled / forfeited	(191,332)
Number of Shares Outstanding	10,563,880	9,340,046
Number of Shares Options Exercisable	4,419,875
Number of Shares Options vested or expected to vest	9,709,088
Weighted Average Exercise Price Outstanding	$ 4.6
Weighted Average Exercise Price Granted	3.43
Weighted Average Exercise Price Exercised	1.02
Weighted Average Exercise Price Cancelled / forfeited	3.65
Weighted Average Exercise Price Outstanding	4.74	$ 4.6
Weighted Average Exercise Price Options Exercisable	5.89
Weighted Average Exercise Price Options Vested or Expected to Vest	$ 4.86
Weighted Average Remaining Contractual Term (in years) Outstanding	7 years 3 months 3 days	6 years 7 months 28 days
Weighted Average Remaining Contractual Term (in years) Options Exercisable	5 years 8 months 4 days
Weighted Average Remaining Contractual Term (in years) Options Vested or Expected to Vest	7 years 1 month 20 days
Aggregate Intrinsic Value Outstanding	$ 2,521	$ 10,267
Aggregate Intrinsic Value Options Exercised	3,044
Aggregate Intrinsic Value Options Exercisable	715
Aggregate Intrinsic Value Options Vested or Expected to Vest	$ 2,278

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Nov. 30, 2024	Mar. 24, 2019	Dec. 31, 2024
Cash dividend			$ 0
Common Class A
Number of shares repurchase	7,921,731
Company issued acquisition of shares		728,548
Common stock voting rights			one
Common Class A \| Directors and Their Affiliates
Number of shares repurchase	7,421,731
Purchase price per share	$ 3.1597
Repurchase agreement date	Nov. 12, 2024
Common Class A \| Member of the Board of Directors
Number of shares repurchase	500,000
Purchase price per share	$ 4.057
Repurchase agreement date	Nov. 27, 2024

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) consisted of the following for the years ended December 31, 2024, 2023, and 2022:


	Year Ended December 31,
	2024			2023			2022
Income tax expense (benefit):
Current tax expense (benefit)
Federal	$	5,127		$	1,275		$	178
State		1,913			2,157			2,575
Foreign		11			3			17
Total current tax expense		7,051			3,435			2,770
Deferred tax expense (benefit)
Federal		(8,193	)		3,311			5,446
State		(2,553	)		(1,312	)		(3,466	)
Foreign		27			13			—
Total deferred tax expense (benefit)		(10,719	)		2,012			1,980
Total income tax expense (benefit)	$	(3,668	)	$	5,447		$	4,750

Component of Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows:


	December 31,
	2024			2023
Net operating loss carryforwards
Federal	$	—		$	2,455
State		489			665
Foreign		—			4
Capitalized research and development		24,250			17,608
Operating leases		10,326			12,503
Property and equipment		4,084			—
Tax credit carryforwards		1,078			—
Stock-based compensation		2,661			1,699
Other		7,107			6,404
Net deferred tax assets before valuation allowance		49,995			41,338
Property and equipment		—			(1,493	)
Right-of-use assets		(9,251	)		(10,002	)
Intangibles		(1,282	)		(1,841	)
Net deferred tax assets	$	39,462		$	28,002

Schedule of Effective Income Tax Rate Reconciliation

The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% and the reported consolidated income tax benefit (expense) are summarized as follows:


	December 31,
	2024			2023			2022
U.S. federal statutory income tax rate		21.0	%		21.0	%		21.0	%
Federal valuation allowance		0.0	%		0.0	%		0.0	%
State valuation allowance		0.0	%		0.0	%		0.0	%
Return to provision and other adjustments		34.1	%		(1.4	%)		(1.6	%)
Prior period correction		0.0	%		0.0	%		(8.5	%)
Executive compensation limited by 162(m)		(24.8	%)		12.0	%		3.1	%
State and local income taxes		3.8	%		8.8	%		6.8	%
Meals and entertainment		(3.8	%)		5.9	%		0.0	%
Nondeductible lobbying expenses		(6.4	%)		1.7	%		0.4	%
Stock-based compensation		11.8	%		1.3	%		0.3	%
Foreign rate differential		0.4	%		(0.1	%)		0.1	%
Uncertain tax position reserves		22.1	%		0.7	%		0.3	%
Nondeductible fringe benefits		(4.5	%)		1.0	%		0.4	%
State credits		0.0	%		1.1	%		0.9	%
Other nondeductible expenses		(0.9	%)		0.4	%		0.2	%
Research and development credits		147.9	%		0.0	%		0.0	%
Nondeductible transaction costs		(70.2	%)		0.0	%		0.0	%
Effective income tax rate		130.5	%		52.4	%		23.4	%

Schedule of Unrecognized Tax Benefits Roll Forward

A tabular roll forward of the Company’s uncertainties in its income tax provision liability is presented below:


	Year Ended December 31,
	2024			2023			2022
Gross balance at beginning of year	$	1,619		$	1,632		$	1,612
Additions based on tax positions related to the current period		—			113			206
Reductions for tax positions of prior years		(746	)		(126	)		(186	)
Gross balance at end of year	$	873		$	1,619		$	1,632

Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Personnel costs	$ 23,836	$ 18,287
Royalties	7,381	3,075
Accrued but unpaid lease obligations and interest (Note 17)	0	2,326
Accrued milestone payment (Note 20)	2,500	2,500
Accrued taxes	4,286	2,799
Other	1,450	1,087
Total Accrued Expenses and Other Current Liabilities	$ 39,453	$ 30,074

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Raw materials	$ 13,252	$ 12,988
Work in process	923	810
Finished goods	12,044	14,455
Inventory	$ 26,219	$ 28,253

Revenue from Contracts with Customers - Schedule of Revenue by Product Category (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Total revenue	$ 482,043	$ 433,140	$ 450,893
Advanced Wound Care
Total revenue	453,639	405,514	422,231
Surgical & Sports Medicine
Total revenue	$ 28,404	$ 27,626	$ 28,662

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

Accounts receivable, net - Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Accounts receivable	$ 119,437	$ 88,859
Less - allowance for credit losses	(9,576)	(6,860)
Accounts receivable	$ 109,861	$ 81,999

Nature of Business and Basis of Presentation

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Business and Basis of Presentation

1. Nature of Business and Basis of Presentation

Organogenesis Holdings Inc. (ORGO or the Company) is a leading regenerative medicine and tissue innovations company focused on empowering healing through the development, manufacturing, and sale of products for the advanced wound care, and surgical and sports medicine markets. Several of the existing and pipeline products in the Company’s portfolio have Premarket Application (PMA) approval, or Premarket Notification 510(k) clearance from the United States Food and Drug Administration (FDA). The Company’s customers include hospitals, wound care centers, government facilities, ambulatory surgery centers (ASCs) and physician offices. The Company has one operating and reportable segment.

The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and include the accounts and results of operations of Organogenesis Holdings Inc., and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Inventories - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Inventory reserve and obsolescence charged to cost of goods	$ 8,210	$ 6,580	$ 9,648

Restructuring

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring

11. Restructuring

In order to reduce the Company’s cost structure and improve operating efficiency, the Company consolidated its manufacturing operations in various locations into Massachusetts facilities.

On October 21, 2020, the Company committed to a plan to restructure the workforce and operations in its La Jolla, California facilities. The restructuring involved 65 employees and was substantially completed as of December 31, 2021, with certain facility and storage activities continuing through 2024. On March 9, 2022, the Company committed to a plan to restructure the workforce and operations in its Birmingham, Alabama facilities. The restructuring involved approximately 25 employees and was substantially completed as of December 31, 2022, with minimal expenses incurred in 2023.

On February 3, 2023, the Company committed to a plan to restructure its workforce to increase productivity and enhance profitability. The reduction in force reduced the Company’s headcount by 71 employees, or approximately 7% of all employees. The Company incurred total employee-related charges of $1,609 in connection with the restructuring, primarily consisting of severance payments. It was substantially completed as of March 31, 2023.

On October 27, 2023, the Company committed to a plan to restructure its workforce to increase productivity and enhance profitability. The reduction in force reduced the Company’s headcount by 49 employees, or approximately 5% of all employees. The Company incurred a total charge of $1,820 in the fourth quarter of 2023, primarily consisting of severance payments.

As a result of the restructuring activities, the Company incurred pre-tax charges of $0, $3,796 and $2,268 in the years ended December 31, 2024, 2023, and 2022, respectively. These charges were included in selling, general and administrative expenses in the consolidated statements of operations and comprehensive income. The liability related to the restructuring activities was $0 and $904 as of December 31, 2024 and 2023, respectively, and was included in accrued expenses and other current liabilities in the consolidated balance sheets. The following table provides a rollforward of the restructuring liability.


	Employee			Other			Total
Liability balance as of December 31, 2022		1,010			182			1,192
Expenses		3,429			367			3,796
Cash distributions		(3,535	)		(549	)		(4,084	)
Liability balance as of December 31, 2023		904			—			904
Cash distributions and other adjustments		(904	)		—			(904	)
Liability balance as of December 31, 2024	$	—		$	—		$	—

CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Series A Convertible Preferred Stock
Stock issuance costs	$ 9,379

Segment Information - Additional Information (Details)	12 Months Ended
Segment Information - Additional Information (Details)	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	srt:ChiefExecutiveOfficerMember
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description	The CODM reviews consolidated gross profit and operating results to assess the overall performance of the Company, and make decisions to allocate resources among the consolidated entity. The CODM uses both gross profit and net income (loss) for the consolidated entity in the annual budget and forecasting process, and considers budget-to-actual variances in gross profit and operating expenses on a quarterly basis when making decisions about the allocation of operating and capital resources to each predominant business activity (research and development, capital expenditure, and employee headcount and compensation).

Share-Based Compensation

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

15. Share-Based Compensation

Stock Incentive Plans-the 2018 Plan

On November 28, 2018, the Board of Directors of the Company adopted, and on December 10, 2018, the Company’s stockholders approved, the Organogenesis 2018 Equity and Incentive Plan (the 2018 Plan). The purposes of the 2018 Plan are to provide long-term incentives and rewards to the Company’s employees, officers, directors and other key persons (including consultants), to attract and retain persons with the requisite experience and ability, and to more closely align the interests of such employees, officers, directors and other key persons with the interests of the Company’s stockholders.

The 2018 Plan authorizes the Company’s Board of Directors or a committee of not less than two independent directors (in either case, the Administrator) to grant the following types of awards: non-statutory stock options; incentive stock options; restricted stock awards; restricted stock units; stock appreciation rights; unrestricted stock awards; performance share awards; and dividend equivalent rights. The 2018 Plan is administered by the Company’s Board of Directors.

At the adoption of the 2018 Plan, a total of 9,198,996 shares of Class A common stock was authorized to be issued (subject to adjustment in the case of any stock dividend, stock split, reverse stock split, or similar change in capitalization of the Company). In June 2022, the 2018 Plan was amended to increase the number of shares of Class A common stock reserved for issuance by 7,826,970 shares. In June 2024, the 2018 Plan was amended to increase the number of shares of Class A common stock reserved for issuance by 15,900,000 shares.

Stock Incentive Plans-the 2003 Plan

The Organogenesis 2003 Stock Incentive Plan (the 2003 Plan), provided for the Company to issue restricted stock awards, or to grant incentive stock options or non-statutory stock options. Incentive stock options were granted only to the Company’s employees. Restricted stock awards and non-statutory stock options were granted to employees, members of the Board of Directors, outside advisors and consultants of the Company.

Effective December 10, 2018, no additional awards may be made under the 2003 Plan and as a result (i) any shares in respect of stock options that are expired or terminated under the 2003 Plan without having been fully exercised will not be available for future awards; (ii) any shares in respect of restricted stock that are forfeited to, or otherwise repurchased by the Company, will not be available for future awards; and (iii) any shares of Class A common stock that are tendered to the Company by a participant to exercise an award will not be available for future awards.

Stock-Based Compensation Expense

Stock options awarded under the stock incentive plans expire 10 years after the grant date and typically vest over four or five years. Restricted stock units awarded typically vest over four years.

During the years ended December 31, 2024, 2023, and 2022, the Company recorded stock-based compensation expense of $10,578, $8,996 and $6,552, respectively, within selling, general and administrative expenses on the consolidated statements of operations and comprehensive income.

Restricted Stock Units (RSUs)

During the years ended December 31, 2024 and 2023, the Company granted 2,156,874 and 3,192,372 time-based restricted stock units to its employees, executives and the Board of Directors. Each restricted stock unit represents the contingent right to receive one share of the Company’s Class A common stock. The fair value of the restricted stock units is based on the fair market value of the Company’s stock on the date of grant.

The activity of restricted stock units is set forth below:


				Weighted
				Average
	Number			Grant Date
	of Shares			Fair Value
Unvested at December 31, 2023		3,898,331		$	3.54
Granted		2,156,874		$	3.36
Vested		(1,434,809	)	$	3.67
Canceled/Forfeited		(91,066	)	$	4.16
Unvested at December 31, 2024		4,529,330		$	3.40

As of December 31, 2024, the total unrecognized compensation cost related to unvested restricted stock units expected to vest was $8,316 and the weighted average remaining recognition period for unvested awards was 2.46 years.

Stock Options

The stock options granted during the years ended December 31, 2024 and 2023 were 2,640,601 and 3,554,528, respectively. The assumptions that the Company used to determine the grant-date fair value of stock options granted during these periods are as follows, presented on a weighted-average basis:


	Year Ended
	December 31,
	2024			2023

Risk-free interest rate		4.27	%		4.00	%
Expected term (in years)		6.21			6.25
Expected volatility		52.24	%		51.00	%
Expected dividend yield		0.0	%		0.0	%
Underlying stock price	$	3.43		$	2.47

These assumptions resulted in an estimated weighted-average grant-date fair value per share of stock options granted during the years ended December 31, 2024 and 2023 of $1.89 and $1.32, respectively.

The following table summarizes the Company’s stock option activity since December 31, 2023:


						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
	Number of			Exercise		Contractual		Intrinsic
	Shares			Price		Term		Value
						(in years)
Options outstanding as of December 31, 2023		9,340,046		$	4.60		6.66	$	10,267
Granted		2,640,601		$	3.43
Exercised		(1,225,435	)	$	1.02			$	3,044
Canceled / forfeited		(191,332	)	$	3.65
Outstanding as of December 31, 2024		10,563,880		$	4.74		7.26	$	2,521
Options exercisable as of December 31, 2024		4,419,875		$	5.89		5.68	$	715
Options vested or expected to vest as of December 31, 2024		9,709,088		$	4.86		7.14	$	2,278

The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s Class A common stock for those stock options that have exercise prices lower than the fair value of the Company’s Class A common stock.

The total fair value of options vested during the years ended December 31, 2024 and 2023 was $4,136 and $3,117, respectively.

As of December 31, 2024, the total unrecognized stock compensation expense was $6,514 and is expected to be recognized over a weighted-average period of 2.33 years.

CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Series A Convertible Preferred Stock	CPN	Cumulative Effect of Adoption	Common Stock	Common Stock CPN	Additional Paid-in Capital	Additional Paid-in Capital CPN	Accumulated Deficit	Accumulated Deficit Cumulative Effect of Adoption
Balance at Dec. 31, 2021	$ 241,335				$ 13		$ 302,155		$ (60,833)
Balance (in shares) at Dec. 31, 2021					128,680,192
Exercise of stock options	2,070						2,070
Exercise of stock options (in shares)					1,864,961
Vesting of RSUs, net of shares surrendered to pay taxes	(648)						(648)
Vesting of RSUs, net of shares surrendered to pay taxes (in shares)					170,491
Issuance of common stock associated with acquisition			$ 828					$ 828
Issuance of common stock associated with acquisition (in shares)						203,485
Stock-based compensation expense	6,552						6,552
Net income	15,532								15,532
Balance at Dec. 31, 2022	$ 265,669			$ (615)	$ 13		310,957		(45,301)	$ (615)
Balance (in shares) at Dec. 31, 2022					130,919,129
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate201613Member
Vesting of RSUs, net of shares surrendered to pay taxes	$ (332)						(332)
Vesting of RSUs, net of shares surrendered to pay taxes (in shares)					397,267
Stock-based compensation expense	8,996						8,996
Net income	4,945								4,945
Balance at Dec. 31, 2023	$ 278,663				$ 13		319,621		(40,971)
Balance (in shares) at Dec. 31, 2023	131,316,396				131,316,396
Balance at Dec. 31, 2023
Balance (in shares) at Dec. 31, 2023	0
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate202307Member
Issuance of Series A redeemable convertible preferred stock, net of issuance costs		$ 120,621
Issuance of Series A redeemable convertible preferred stock, net of issuance costs (in shares)		130,000
Accretion to redemption value and cumulative dividends on redeemable convertible preferred stock		$ 1,798
Accretion to redemption value and cumulative dividends on redeemable convertible preferred stock	$ (1,798)						(1,798)
Exercise of stock options	1,247				$ 1		1,246
Exercise of stock options (in shares)					1,225,435
Repurchase of common shares	(25,479)				$ (1)		(25,478)
Repurchase of common shares (in shares)					(7,921,731)
Vesting of RSUs, net of shares surrendered to pay taxes	(1,175)						(1,175)
Vesting of RSUs, net of shares surrendered to pay taxes (in shares)					1,110,136
Stock-based compensation expense	10,578						10,578
Net income	861								861
Balance at Dec. 31, 2024	$ 262,897				$ 13		$ 302,994		$ (40,110)
Balance (in shares) at Dec. 31, 2024	125,730,236				125,730,236
Balance at Dec. 31, 2024	$ 122,419	$ 122,419
Balance (in shares) at Dec. 31, 2024	130,000	130,000

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

Prepaid Expenses and Other Current Assets

7. Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	December 31,
	2024		2023
Subscriptions	$	4,866	$	4,800
Prepaid research and development expenses		2,929		1,066
Prepaid licensing fee (Note 18)		3,301		2,368
Conferences and marketing expenses		1,477		945
Prepaid taxes		445		—
Deposits		309		872
Other		228		318
Insurance		155		85
	$	13,710	$	10,454

Deposits are funds held by vendors which are expected to be released within twelve months and therefore they are recorded as current assets.

Fair Value Measurement - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge		$ 18,842,000	$ 0	$ 0
Fair value		140,190,000	$ 130,347,000
Building and Associated Unfinished Construction Work
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	$ 18,842,000
Fair value		$ 13,600,000

Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Subscriptions	$ 4,866	$ 4,800
Prepaid research and development expenses	2,929	1,066
Prepaid licensing fee (Note 18)	3,301	2,368
Conferences and marketing expenses	1,477	945
Prepaid taxes	445
Deposits	309	872
Other	228	318
Insurance	155	85
Prepaid Expense	$ 13,710	$ 10,454

Restructuring (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Summary of liability related to the restructuring activities

The following table provides a rollforward of the restructuring liability.


	Employee			Other			Total
Liability balance as of December 31, 2022		1,010			182			1,192
Expenses		3,429			367			3,796
Cash distributions		(3,535	)		(549	)		(4,084	)
Liability balance as of December 31, 2023		904			—			904
Cash distributions and other adjustments		(904	)		—			(904	)
Liability balance as of December 31, 2024	$	—		$	—		$	—

Related Party Transactions - Additional Information (Detail) - Common Class A	1 Months Ended
	Nov. 30, 2024 shares
Number of shares repurchase	7,921,731
Directors and Their Affiliates
Number of shares repurchase	7,921,731

- Definition

+ References + Details

Leases - Summary of Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 14,962	$ 10,401
Operating cash flows for finance leases	197	137
Financing cash flows for finance leases	1,081	485	$ 200
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$ 5,109	$ 5,869	$ 1,350
Weighted-average remaining lease term
Finance leases	1 year 6 months 29 days	2 years 6 months 29 days
Operating leases	7 years 14 days	6 years 5 months 26 days
Weighted-average discount rate
Finance leases	7.91%	7.91%
Operating leases	4.91%	4.71%

Property and Equipment, Net - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Depreciation expense		$ 13,623,000	$ 10,448,000	$ 5,845,000
Write down of capitalized internal-use software costs	$ 3,959,000	3,959,000	0	0
Impairment charge		$ 18,842,000	0	0
Sale and donation charges of equipment related to construction in progress				4,200,000
Cancellation fees to vendors				$ 632,000
Asset impairment charges			$ 0
Construction in Progress
Estimated useful life	5 years
Building and Associated Unfinished Construction Work
Impairment charge	$ 18,842,000

Long-Term Debt Obligations (Tables)

12 Months Ended

Dec. 31, 2024

Long-Term Debt, Unclassified [Abstract]

Schedule of long-term debt obligations


	December 31,
	2024		2023
Term loan		—		66,563
Less debt discount and debt issuance cost		—		(332	)
Term loan, net of debt discount and debt issuance cost	$	—	$	66,231

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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+ Details

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2024	Feb. 24, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Document Transition Report	false
Entity Registrant Name	ORGANOGENESIS HOLDINGS INC.
Entity Central Index Key	0001661181
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Public Float			$ 199.9
Trading Symbol	ORGO
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Address, State or Province	MA
Title of 12(b) Security	Class A Common Stock, $0.0001 par value
Security Exchange Name	NASDAQ
Document Annual Report	true
Entity Common Stock, Shares Outstanding		126,828,092
ICFR Auditor Attestation Flag	true
Securities Act File Number	001-37906
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	85 Dan Road
Entity Address, City or Town	Canton
Entity Address, Postal Zip Code	02021
Entity Tax Identification Number	98-1329150
City Area Code	781
Local Phone Number	575-0775
Auditor Name	RSM US LLP
Auditor Firm ID	49
Auditor Location	Boston, Massachusetts
Document Financial Statement Error Correction [Flag]	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Certain information required to be provided in Part III of this Annual Report on Form 10-K will be provided by a Definitive Proxy Statement for our 2024 Annual Meeting of Stockholders (the "Proxy Statement") to be filed with the Securities and Exchange Commission on or before April 30, 2025.
Auditor Opinion	Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Organogenesis Holdings Inc. and its subsidiaries (the Company) as of December 31, 2024 and 2023, the related consolidated statements of operations and comprehensive income, redeemable convertible preferred stock and stockholders' equity and cash flows for each of the three years in the period ended December 31, 2024, and the related notes to the consolidated financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024 in conformity with accounting principles generally accepted in the United States of America. We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013, and our report dated February 27, 2025, expressed an unqualified opinion on the effectiveness of the Company's internal control over financial reporting.

Stockholders' Equity

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Stockholders' Equity

14. Stockholders’ Equity

In November 2024, the Company repurchased 7,421,731 shares of Class A common stock from certain existing stockholders of the Company, including certain of its directors and their affiliates, at a price per share equal to $3.1597, which represents the 10-day trailing volume weighted average price of the Class A common stock as of market close on November 11, 2024, pursuant to stock repurchase agreements entered into on November 12, 2024 between the Company and such stockholders (Stock Repurchase Agreements and each stock repurchase thereunder, a Repurchase). Also in November 2024, the Company repurchased 500,000 shares of Class A common stock from an existing stockholder, an entity beneficially owned by a member of the Board of Directors of the Company, at a price per share equal to $4.057, which represents the 10-day trailing volume weighted average price of the Common Stock as of market close on November 26, 2024, pursuant to a stock repurchase agreement entered into on November 27, 2024 between the Company and such stockholder (Additional Stock Repurchase Agreement).

As of December 31, 2024 and 2023, the issued shares of Class A common stock include 728,548 treasury shares that were reacquired in connection with the redemption of redeemable shares in March 2019. The 7,921,731 shares of Class A common stock repurchased in November 2024 pursuant to the Stock Repurchase Agreements and the Additional Stock Repurchase Agreement were retired and returned to authorized and unissued status.

Each share of Class A common stock entitles the holder to one vote on all matters submitted to the stockholders for a vote. Class A common stockholders are entitled to receive dividends, as may be declared by the Board of Directors to the extent permissible under the 2021 Credit Agreement as amended by the 2024 Amendment. Through December 31, 2024, no cash dividends have been declared or paid.

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

Schedule of prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following:


	December 31,
	2024		2023
Subscriptions	$	4,866	$	4,800
Prepaid research and development expenses		2,929		1,066
Prepaid licensing fee (Note 18)		3,301		2,368
Conferences and marketing expenses		1,477		945
Prepaid taxes		445		—
Deposits		309		872
Other		228		318
Insurance		155		85
	$	13,710	$	10,454

Fair Value Measurements - Schedule of Significant Unobservable Quantitative Inputs to the Fair Value (Details) - Fair Value, Inputs, Level 3 - Nonrecurring Basis - Building	Dec. 31, 2024
Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable input	8
Terminal Capitalization Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable input	6.5
Maximum \| Operating Expense Ratio
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable input	32.9
Minimum \| Operating Expense Ratio
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable input	24.3

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Accrued But Unpaid Lease Obligations

The accrued but unpaid lease obligations as well as the related accrued interest with respect to the remaining three Related-Party Leases are shown below:


	December 31,
	2024		2023
Principal portion of rent in arrears	$	—	$	5,273
Accrued interest on accrued but unpaid lease obligations	$	—	$	2,326

Schedule of Lease Cost

The components of lease cost were as follows:


	Classification	Year Ended December 31, 2024		Year Ended December 31, 2023
Finance lease
Amortization of right-of-use assets	COGS and SG&A	$	1,151	$	479
Interest on lease liabilities	Interest Expense		197		137
Total finance lease cost			1,348		616
Operating lease cost	COGS, R&D, SG&A		9,474		10,052
Short-term lease cost	COGS, R&D, SG&A		2,893		2,921
Variable lease cost	COGS, R&D, SG&A		6,615		5,595
Total lease cost		$	20,330	$	19,184

Summary of Balance Sheet Information Related To Finance Leases

Supplemental balance sheet information related to finance leases was as follows:


	December 31,			December 31,
	2024			2023
Property and equipment, gross	$	3,454		$	3,454
Accumulated depreciation		(1,631	)		(479	)
Property and equipment, net	$	1,823		$	2,975

Current portion of finance lease obligations	$	1,170		$	1,081
Finance lease obligations, net of current portion		718			1,888
Total finance lease liabilities	$	1,888		$	2,969

Summary of Cash Flow Information Related To Leases

Supplemental cash flow information related to leases was as follows:


	Year Ended December 31, 2024		Year Ended December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	14,962	$	10,401
Operating cash flows for finance leases	$	197	$	137
Financing cash flows for finance leases	$	1,081	$	485


	December 31,			December 31,
	2024			2023
Weighted-average remaining lease term
Finance leases		1.58			2.58
Operating leases		7.04			6.49

	December 31,			December 31,
	2024			2023
Weighted-average discount rate
Finance leases		7.91	%		7.91	%
Operating leases		4.91	%		4.71	%

Summary of Maturities of Lease Liabilities

As of December 31, 2024, the maturities of lease liabilities were as follows:


	Operating leases			Finance leases
2025	$	11,119		$	1,278
2026		11,955			737
2027		13,586			—
2028		9,210			—
2029		9,475
Thereafter		91,341			—
Total lease payments		146,686			2,015
Less: interest		(8,330	)		(127	)
Total lease liabilities	$	138,356		$	1,888

Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

19. Leases

The Company’s leases consist primarily of real estate, equipment and vehicle leases.

The Company leases real estate for office, lab, warehouse and production space under noncancelable leases that expire at various dates through 2041, subject to the Company’s options to terminate or renew certain leases for an additional five to ten years.

The Company leases vehicles under operating leases for certain employees and has fleet services agreements for service on these vehicles. The minimum lease term for each newly leased vehicle is 367 days with renewal options. The Company may terminate the vehicle lease after the minimum lease term upon thirty days’ prior notice.

The Company also leases other equipment under noncancelable operating leases that expire at various dates through 2025, and certain equipment required for its cleanroom facilities under finance leases that expire in 2026.

On January 1, 2013, the Company entered into finance lease arrangements with 65 Dan Road SPE, LLC, 85 Dan Road Associates, LLC, Dan Road Equity I, LLC and 275 Dan Road SPE, LLC for office and laboratory space in Canton, Massachusetts (the Related-Party Leases). 65 Dan Road SPE, LLC, 85 Dan Road Associates, LLC, Dan Road Equity I, LLC and 275 Dan Road SPE, LLC are related parties as the owners of these entities are also directors, former directors and / or stockholders of the Company.

In August 2021, the Company purchased the building (the 275 Dan Road Building) under the lease with 275 Dan Road SPE, LLC for $6,013 and the lease was terminated. The Company recorded an asset of $4,943 to buildings within property and equipment, net, on the accompanying consolidated balance sheets.

The remaining three Related-Party Leases were set to terminate on December 31, 2022 and each contained a renewal option for a five-year period with a rental rate at the greater of (i) rent for the last year of the prior term, or (ii) the then fair market value. In November 2021, the Company exercised the option to extend the leases for an additional five years, and at such time, remeasured the right of use assets and lease liabilities based on its best estimate of the market rental rate in the renewal period and reassessed the classification for these leases. As a result, these leases were reclassified from finance leases to operating leases on the consolidated balance sheets as of December 31, 2021. In December 2022, the Company and the landlord finalized the market rental rate in the renewal period for these properties, resulting in an additional $8,060 to be recorded as variable lease expenses over the renewal period.

Effective April 1, 2019, the Company agreed to accrue interest on accrued but unpaid lease obligations owed for rent in arrears to the owners of the buildings subject to the Related-Party Leases, at an interest rate equal to the rate charged under the 2019 Credit Agreement. The Company repaid the remaining accrued but unpaid lease obligations and associated accrued interest in installments throughout 2024. The accrued but unpaid lease obligations as well as the related accrued interest with respect to the remaining three Related-Party Leases are shown below:


	December 31,
	2024		2023
Principal portion of rent in arrears	$	—	$	5,273
Accrued interest on accrued but unpaid lease obligations	$	—	$	2,326

The accrued but unpaid lease obligations owed for rent in arrears was included in current portion of operating lease obligations, other than the balance related to the 275 Dan Road Building, which was included in accrued expenses and other current liabilities on the consolidated balance sheets, as of December 31, 2023. The accrued interest on the accrued but unpaid lease obligations was included in accrued expenses and other current liabilities on the consolidated balance sheets as of December 31, 2023.

In November 2024, the Company entered into a lease for a facility in Smithfield, Rhode Island, comprising manufacturing and office space (Smithfield Facility). The initial lease term is approximately sixteen years, with two ten-year renewal options, not considered probable of exercise at lease inception, and a right of first offer to purchase the Smithfield Facility in the event that its owner markets it for sale. The undiscounted minimum lease payments are $102,645, and the Company is entitled to a tenant improvement allowance of up to $18,376 for its planned build out of the manufacturing space, expected to be completed in fiscal 2027. The lease of the office space commenced at lease inception, and in connection therewith, the Company recorded a right-of-use asset and associated lease liability of $3,425. The Company has unilateral right to terminate the lease for a payment to the landlord of $1,250 in the event it does not secure certain anticipated state and local tax incentives by March 31, 2025.

During the year ended December 31, 2023, the Company terminated an existing agreement for the rental of certain medical garments. The Company recorded a loss of $559 in connection with the lease termination.

The components of lease cost were as follows:


	Classification	Year Ended December 31, 2024		Year Ended December 31, 2023
Finance lease
Amortization of right-of-use assets	COGS and SG&A	$	1,151	$	479
Interest on lease liabilities	Interest Expense		197		137
Total finance lease cost			1,348		616
Operating lease cost	COGS, R&D, SG&A		9,474		10,052
Short-term lease cost	COGS, R&D, SG&A		2,893		2,921
Variable lease cost	COGS, R&D, SG&A		6,615		5,595
Total lease cost		$	20,330	$	19,184

Supplemental balance sheet information related to finance leases was as follows:


	December 31,			December 31,
	2024			2023
Property and equipment, gross	$	3,454		$	3,454
Accumulated depreciation		(1,631	)		(479	)
Property and equipment, net	$	1,823		$	2,975

Current portion of finance lease obligations	$	1,170		$	1,081
Finance lease obligations, net of current portion		718			1,888
Total finance lease liabilities	$	1,888		$	2,969

Supplemental cash flow information related to leases was as follows:


	Year Ended December 31, 2024		Year Ended December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	14,962	$	10,401
Operating cash flows for finance leases	$	197	$	137
Financing cash flows for finance leases	$	1,081	$	485


	December 31,			December 31,
	2024			2023
Weighted-average remaining lease term
Finance leases		1.58			2.58
Operating leases		7.04			6.49

	December 31,			December 31,
	2024			2023
Weighted-average discount rate
Finance leases		7.91	%		7.91	%
Operating leases		4.91	%		4.71	%

As of December 31, 2024, the maturities of lease liabilities were as follows:


	Operating leases			Finance leases
2025	$	11,119		$	1,278
2026		11,955			737
2027		13,586			—
2028		9,210			—
2029		9,475
Thereafter		91,341			—
Total lease payments		146,686			2,015
Less: interest		(8,330	)		(127	)
Total lease liabilities	$	138,356		$	1,888

Leases - Summary of Balance Sheet Information Related To Finance Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Property and equipment, gross	$ 3,454	$ 3,454
Accumulated depreciation	(1,631)	(479)
Property and equipment, net	1,823	2,975
Current portion of finance lease obligations	1,170	1,081
Finance lease obligations, net of current portion	718	1,888
Total lease liabilities	$ 1,888	$ 2,969
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Product Category

The following table sets forth revenue by product category:


	Year Ended December 31,
	2024		2023		2022
Advanced Wound Care	$	453,639	$	405,514	$	422,231
Surgical and Sports Medicine		28,404		27,626		28,662
Total revenue	$	482,043	$	433,140	$	450,893

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Federal corporate income tax rate	21.00%	21.00%	21.00%
Unrecognized tax benefits	$ 2,030	$ 2,837	$ 2,642
Description of tax benefits upon ultimate settlement	The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.
Income tax penalities and interest expense	$ 11	$ 500
State and Local Jurisdiction [Member] \| Expiration December 31, 2027 through 2038
Operating Loss Carryforwards	7,441
State and Local Jurisdiction [Member] \| Expiration December 31, 2038 \| Research and Development Tax Credit
Tax credit carryforward	$ 1,078

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 861	$ 4,945	$ 15,532

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/exampleRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Income Taxes - Component of Company's Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Federal		$ 2,455
State	$ 489	665
Foreign		4
Capitalized research and development	24,250	17,608
Operating leases	10,326	12,503
Property and equipment	4,084
Tax credit carryforwards	1,078
Stock-based compensation	2,661	1,699
Other	7,107	6,404
Net deferred tax assets before valuation allowance	49,995	41,338
Property and equipment		(1,493)
Right-of-use assets	(9,251)	(10,002)
Intangibles	(1,282)	(1,841)
Net deferred tax assets	$ 39,462	$ 28,002

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported results of operations during the reporting periods. In preparing the consolidated financial statements, the estimates and assumptions that management considers to be significant and that present the greatest amount of uncertainty include: recognition and measurement of current and deferred income tax assets and liabilities; and the assessment of recoverability of long-lived assets, including impairment and write-downs. Actual results and outcomes may differ significantly from those estimates and assumptions.

Foreign Currency

The Company’s functional currency, including that of the Company’s Swiss subsidiary, Organogenesis GmbH, is the United States dollar. Foreign currency gains and losses resulting from remeasurement of assets and liabilities held in foreign currencies and transactions settled in a currency other than the functional currency are included separately as non-operating income or expense in the consolidated statements of operations and comprehensive income (loss) as a component of other expense, net. The foreign currency amounts recorded for all periods presented were insignificant.

Segment Reporting

Operating segments are defined as components of an enterprise about which discrete financial information is available that is evaluated regularly by the chief operating decision maker (CODM), or decision-making group, in making decisions on how to allocate resources and assess performance for the organization. The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions. The Company’s portfolio includes regenerative medicine products in various stages, ranging from preclinical to late-stage development, and commercialized advanced wound care and surgical and sports medicine products which support healing across a wide variety of wound types at many different types of facilities. The Company has determined that it has a single operating segment—regenerative medicine.

The Company’s measure of segment profit and loss is reported as consolidated net income on the accompanying consolidated statements of operations and comprehensive income, and the Company’s measure of segment assets is reported as consolidated assets on the accompanying consolidated balance sheets. The accounting policies of the regenerative medicine segment are the same as those described in this summary of significant accounting policies.

Cash and Cash Equivalents

The Company primarily maintains its cash in bank deposit accounts in the United States which, at times, may exceed the federally insured limits. The Company has not experienced losses in such accounts and believes it is not exposed to significant credit

risk on cash. The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Restricted Cash

The Company had restricted cash of $580 and $498 as of December 31, 2024 and 2023, respectively. Restricted cash represents employee deposits in connection with the Company’s health benefit plan.

Accounts Receivable, Net

Accounts receivable are stated at invoice value less estimated allowances for credit losses. The Company evaluates expected credit losses on accounts receivable considering historical experience, credit quality, age of the accounts receivable balances, geography-related risks and current and expected economic conditions that may affect a customer’s ability to pay. The Company continually monitors customer payments and in cases where there are circumstances that may impair a specific customer’s ability to meet its financial obligations, a specific allowance is recorded against amounts due, thereby reducing the net recognized receivable to the amount reasonably believed to be collectible. Accounts receivable are charged against the allowance when deemed uncollectible. Recoveries of accounts receivables previously written off are recorded when received.

Inventories

Inventories are stated at the lower of cost (determined using the first-in first-out method) or net realizable value. Work in process and finished goods include materials, labor and allocated overhead. Inventories also include cell banks and the cost of tests mandated by regulatory agencies of the materials to qualify them for production.

The Company regularly reviews inventory quantities on hand and records a provision to write down excess and obsolete inventory to its estimated net realizable value based upon management’s assumptions of future material usage, yields and obsolescence, which are based primarily on analysis of historical usage and sales information, as well as market conditions and the effective life of certain inventory items.

The Company also tests other components of its inventory for future growth projections. The Company determines the average yield of the component and compares it to projected revenue to ensure it is properly reserved.

Property and Equipment, Net

Property and equipment are stated at cost less accumulated depreciation. As of December 31, 2024 and 2023, the Company’s property and equipment consisted of leasehold improvements, building, furniture and computers, and equipment. Depreciation expense is recognized using the straight-line method over the useful lives of the assets, which are as follows:


Leasehold improvements		Lesser of the life of the lease or the economic life of the asset
Building		30 years
Furniture and computers		3 - 5 years
Equipment		5 - 10 years

Construction in progress costs are capitalized when incurred until the assets are placed in service, at which time the costs will be transferred to the related property and equipment, and depreciated over their respective useful lives. Upon retirement or sale, the cost and related accumulated depreciation of assets disposed of are removed from the accounts and any resulting gain or loss is included in the consolidated statements of operations and comprehensive income. Expenditures for repairs and maintenance are charged to expense as incurred. Expenditures for major improvements that extend the useful lives of the related asset are capitalized and depreciated over their remaining estimated useful lives.

Internal Use Software

The Company capitalizes costs to purchase and develop internal-use software. These costs are capitalized from the time that the preliminary project stage is completed, and it is considered probable that the software will be used to perform the function intended, until the time the software is placed in service for its intended use. Any costs incurred during subsequent efforts to upgrade and

enhance the functionality of the software are also capitalized. Costs incurred for maintenance activities relating to the software are expensed as incurred.

When the Company places the software in service, it begins amortizing the capitalized costs over the estimated useful life of the software, generally three to five years.

Goodwill

Goodwill represents the excess of the purchase price of an acquired business over the fair value of the identifiable assets acquired and liabilities assumed. Goodwill is not amortized, but is tested for impairment at least annually (as of December 31), or more frequently if events or circumstances indicate the carrying value may no longer be recoverable and that an impairment loss may have occurred. Circumstances that could trigger an impairment test include, but are not limited to, a significant adverse change in the business climate or legal factors, an adverse action or assessment by a regulator, or unanticipated competition. The Company operates as one segment, which is considered to be the sole reporting unit, and therefore goodwill is tested for impairment at the consolidated level.

The Company may first assess qualitative factors to determine whether it is necessary to perform the quantitative goodwill impairment test, or the Company can bypass the qualitative assessment and proceed directly to the quantitative test. The quantitative goodwill impairment test requires the Company to estimate and compare the fair value of the reporting unit with its carrying value. If the fair value of the reporting unit exceeds the carrying value of the net assets, goodwill is not impaired. If the fair value of the reporting unit is less than the carrying value, the difference is recorded as an impairment loss up to the amount of goodwill. At December 31, 2024 and 2023, the Company elected to perform a quantitative analysis directly, and used its market capitalization to approximate the fair value of the reporting unit. The fair value of the reporting unit exceeded its carrying value at December 31, 2024 and 2023, and accordingly the Company did not record any impairment on its goodwill.

Intangible Assets Subject to Amortization

Intangible assets include intellectual property either owned by the Company or to which the Company has a license. Intangible assets acquired in a business combination are recognized at fair value using generally accepted valuation methods deemed appropriate for the type of intangible asset acquired. Intangible assets are reported net of accumulated amortization, separately from goodwill. Intangible assets with finite lives are amortized over their estimated useful lives. Intangible assets include developed technology and patents, trade names, trademarks, customer relationships and non-compete agreements obtained through business acquisitions. Amortization of intangible assets with finite lives is calculated on a straight-line basis or using an accelerated method based on the following estimated useful lives:


Trade names and trademarks		1-12 years
Developed technology		6-12 years
Customer relationships		10 years
Non-compete agreements		5 years

Impairment of Long-Lived Assets

Long-lived assets include property and equipment, definite-lived intangible assets, and right-of-use assets associated with the Company’s lease agreements. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Factors that the Company considers in deciding when to perform an impairment review include, but are not limited to, significant underperformance of the business in relation to expectations, significant negative industry or economic trends, and significant changes or planned changes in the use of the assets. When such an event occurs, the Company determines whether there has been impairment by comparing the anticipated undiscounted future net cash flows to the related asset group’s carrying value. If an asset is determined to be impaired, the asset is written down to fair value, which is determined based on discounted cash flows or appraised value, depending on the nature of the asset. The Company recorded impairment of $18,842 during the year ended December 31, 2024, and did not record any impairment of long-lived assets during the years ended December 31, 2023 or 2022.

Revenue Recognition

Product Revenue

The Company generates revenue through the sale of Advanced Wound Care and Surgical & Sports Medicine products. There is a single performance obligation in all of the Company’s contracts, which is the Company’s promise to transfer the Company’s product to customers based on specific payment and shipping terms in the arrangement. The entire transaction price is allocated to this single performance obligation. Product revenue is recognized when a customer obtains control of the Company’s product which occurs at a point in time and may be upon shipment, procedure date, or delivery, based on the terms of the contract.

Reserves for Variable Consideration

Revenues from product sales are recorded net of reserves for variable consideration which includes but is not limited to product return, discounts, rebates and GPO fees that are offered within contracts between the Company and its customers relating to the Company’s sales of its products. These reserves are based on the amounts earned or to be claimed by its customers on the related sales and are recorded as a reduction of accounts receivable or an establishment of a liability. Where appropriate, these estimates take into consideration a range of possible outcomes which are probability-weighted for relevant factors such as the Company’s historical experience, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract and is included in the net sales price to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. Actual amounts of consideration ultimately paid may differ from the Company’s estimates. If actual results vary from the Company’s estimates, the Company adjusts these estimates, which would affect net product revenue and earnings in the period such variances become known.

Product Returns

Consistent with industry practice, the Company generally offers customers a limited right of return for product purchased. The Company estimates the amount of its product sales that may be returned by its customers and records this estimate as a reduction of revenue in the period in which the related product revenue is recognized. The Company currently estimates product return reserves using its historical return rates as well as factors that it becomes aware of that it believes could significantly impact its expected returns, including product recalls, pricing changes, or changes in reimbursement rates. The Company does not record an asset for the returned product as the product is discarded upon receipt.

Rebates and Allowances

The Company provides certain customers with rebates and allowances that are explicitly stated in the Company’s contracts, resulting in a reduction of revenue and the establishment of a liability that is included in accrued expenses in the accompanying consolidated balance sheets in the period the related product revenue is recognized.

GPO Fees

The Company pays fees to GPOs for administrative services that the GPOs perform in connection with the purchases of the product by the GPO members. These fees are based on a contractually-determined percentage of the Company’s applicable sales. The Company classifies these GPO fees as a reduction of revenue based on the substance of the relationship of all parties involved in the transaction.

Other Revenue Policies

Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue. The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the associated products. The Company records the related costs as part of the cost of goods sold.

The Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised products to the customer will be one year or less, which is the case with substantially all customers. The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. These costs are included in selling, general, and administrative expenses.

License and Manufacturing Agreement

License and manufacturing agreement

The Company licenses the rights to sell certain of its products, which are manufactured by third parties, including the trademarks and other license rights associated with such products. Payments to the third parties under these arrangements typically include one or more of the following: non-refundable, upfront license fees; manufacturing supply services and associated purchase commitments at specified prices; milestone payments; and royalties on future product sales. The Company allocates payments in these arrangements based on the relative fair value of the goods and services received, and recognizes the expenses associated with each good or service as it receives the associated benefit.

Stock-Based Compensation

The Company measures stock-based awards granted to employees, non-employees, and directors based on the fair value of the awards on the date of grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. Generally, the Company issues stock options, restricted stock units and restricted stock awards with only service-based vesting conditions and records the expense for these awards using the straight-line method. The Company has not issued any stock-based awards with performance-based vesting conditions.

Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company recognizes stock-based compensation expense within selling, general and administrative expenses in the consolidated statements of operations and comprehensive income for all share-based payments based upon the estimated grant-date fair value for the awards expected to ultimately vest.

The fair value of each restricted stock unit grant is based on the fair market value of the Company’s Class A common stock on the date of grant. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The Company has been a public company for a short period of time, has limited public float and lacks company-specific historical and implied volatility information for its Class A common stock. Therefore, it estimates its expected stock price volatility based on the historical volatility of publicly traded peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company’s stock options has been determined utilizing the "simplified" method for awards that qualify as "plain-vanilla" options. The risk-free interest rate is determined by reference to the United States Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on its Class A common stock and does not expect to pay any cash dividends in the foreseeable future.

Advertising

Advertising costs are expensed as incurred and are included in selling, general and administrative expenses in the consolidated statements of operations and comprehensive income. Advertising costs were approximately $3,825, $5,225, and $4,812, for the years ended December 31, 2024, 2023, and 2022, respectively.

Research and Development Costs

Research and development expenses include personnel costs for the Company’s research and development personnel, expenses related to improvements in manufacturing processes, enhancements to the Company’s currently available products, and additional investments in the product and platform development pipeline. Research and development expenses also include expenses for clinical trials. The Company expenses research and development costs as incurred.

Income Taxes

The Company accounts for income taxes using the asset and liability method which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the consolidated financial statements or in the Company’s tax returns. Deferred tax assets and liabilities are determined on the basis of the differences between the consolidated financial statement and the tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. The Company quarterly assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent it believes, based upon the weight of available evidence, that it is more likely than not that all or a portion of the deferred tax assets will not be realized, a valuation allowance is established through a charge to income tax expense. In determining whether a valuation allowance for deferred tax assets is necessary, the Company analyzes both positive and negative evidence related to the realization of deferred tax assets, including projected future taxable income, recent financial results and estimates of future reversals of deferred tax assets and liabilities. In addition, the Company considers whether it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position.

The Company accounts for uncertain income tax positions recognized in the consolidated financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the consolidated financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. The provision for income taxes includes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate as well as the related net interest and penalties.

Fair Value of Financial Instruments

Certain assets and liabilities of the Company are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

•

Level 1—Quoted prices in active markets for identical assets or liabilities.

•

Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

•

Level 3—Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The carrying values of accounts receivable, inventories, prepaid expenses and other current assets, accounts payable and accrued expenses and other assets and liabilities approximate their fair values due to the short-term nature of these assets and liabilities. The carrying values of outstanding borrowings under the Company’s debt arrangements (see Note 12, Long-Term Debt Obligations) approximate their fair values as determined based on a discounted cash flow model, which represents a Level 3 measurement.

Nonrecurring Fair Value Measurements of Nonfinancial Assets

The Company estimates fair value to perform impairment tests on long-lived asset groups when required. The methodologies used to determine fair value in these circumstances are primarily based upon discounted cash flow models and the inputs to such models are classified within Level 3 of the fair value hierarchy. If impaired, these assets or asset groups are measured and recorded at fair value within the accompanying consolidated financial statements.

Classification and Accretion of Series A Redeemable Convertible Preferred Stock

The Company has classified the Series A Redeemable Convertible Preferred Stock (Convertible Preferred Stock) outside of stockholders’ equity on the Company’s consolidated balance sheets because the holders of such stock have certain redemption and liquidation rights that, in certain situations, are not solely within the control of the Company and would require the redemption of the then-outstanding Convertible Preferred Stock. The Convertible Preferred Stock is redeemable in an amount equal to the original issue price per share plus all declared but unpaid dividends thereon, as specified in the Convertible Preferred Stock certificate of designation. The Company records periodic accretion to the values of its outstanding Convertible Preferred Stock such that its carrying value will be equal to the redemption value at the earliest redemption date. Adjustments to the carrying value of the Convertible Preferred Stock at each reporting date reduce additional paid-in capital. See Note 13, Convertible Preferred Stock.

Earnings per Share (EPS)

The Company applies the two-class method when computing net income (loss) per share attributable to common stockholders as the Company has issued shares that meet the definition of participating securities. The two-class method determines net income (loss) per share for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income (loss) available to common stockholders for the period to be allocated between common and participating securities based upon their respective rights to share in the undistributed earnings as if all income (loss) for the period had been distributed. The Company considers its Convertible Preferred Stock to be participating securities

as, in the event a dividend is paid on its Class A common stock (common shares), the holders of Convertible Preferred Stock would be entitled to receive dividends on a basis consistent with the common stockholders. The holders of the Convertible Preferred Stock are also entitled to residual value in liquidation. There is no allocation required under the two-class method during periods of loss since the participating securities do not have a contractual obligation to share in the losses of the Company.

Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common shares outstanding for the period, excluding potentially dilutive common shares. Diluted net income (loss) per share attributable to common stockholders is computed by adjusting net income (loss) attributable to common stockholders to reallocate undistributed earnings based on the potential impact of dilutive securities. Diluted net income (loss) per share attributable to common stockholders is computed by dividing the diluted net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding for the period, including potentially dilutive common shares. For purposes of this calculation, Convertible Preferred Stock, unvested RSUs and options to purchase common stock are considered common stock equivalents. In periods in which the Company reports a net loss available to common stockholders, diluted net loss per share available to common stockholders is the same as basic net loss per share available to common stockholders, since dilutive common shares are not assumed to have been issued as their effect is anti-dilutive. The Company calculates diluted net income (loss) per share using the treasury stock method which includes consideration of unrecognized compensation expense as additional proceeds.

Leases

The Company determines if an arrangement is a lease at lease inception. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company classifies leases at the lease commencement date as operating or finance leases and records a right-of-use asset and a lease liability on the consolidated balance sheets for all leases with an initial lease term of greater than 12 months. Leases with an initial term of 12 months or less are not recorded on the balance sheet, but payments are recognized as expense on a straight-line basis over the lease term. The Company has elected not to record a right-of-use asset or lease liability for leases with terms of 12 months or less.

A lease qualifies as a finance lease if any of the following criteria are met at the inception of the lease: (i) there is a transfer of ownership of the leased asset to the Company by the end of the lease term, (ii) the Company holds an option to purchase the leased asset that it is reasonably certain to exercise, (iii) the lease term is for a major part of the remaining economic life of the leased asset, (iv) the present value of the sum of lease payments equals or exceeds substantially all of the fair value of the leased asset, or (v) the nature of the leased asset is specialized to the point that it is expected to provide the lessor no alternative use at the end of the lease term.

The Company enters into contracts that contain both lease and non-lease components. Non-lease components may include maintenance, utilities, and other operating costs. The Company combines the lease and non-lease components of fixed costs in its lease arrangements as a single lease component. When a contract contains more than one lease component, the Company allocates consideration in the contract to the separate lease and associated non-lease components based on the relative standalone selling price of the lease components within the contract.

Variable costs, such as utilities, common area maintenance, and maintenance programs for leased vehicles are not included in the measurement of right-of-use assets and lease liabilities, but rather are expensed when the event determining the amount of variable consideration to be paid occurs.

The options to extend or terminate a lease are included in the lease terms when it is reasonably certain that the Company will exercise the options. Operating leases are included in operating lease right-of-use assets and operating lease obligations on the consolidated balance sheets. Finance lease right-of-use assets are included in property and equipment, net, and the related liabilities are included in finance lease obligations on the consolidated balance sheets.

Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the leases. Right-of-use assets and lease liabilities are recognized based on the present value of the fixed lease payments over the lease term at the commencement date. The right-of-use assets also include any initial direct costs incurred and lease payments made at or before the commencement date and are reduced by lease incentives. The Company uses its incremental borrowing rate as the discount rate to determine the present value of the lease payments for leases that do not have a readily determinable implicit discount rate. The Company’s incremental borrowing rate is the rate of interest that it would have to borrow on a collateralized basis over a similar term and amount in a similar economic environment. The Company determines the incremental borrowing rates for its leases by adjusting the risk-free interest rate with a credit risk premium corresponding to the Company’s credit rating, in consideration of the collateral and lease term.

The Company records rent expense for its operating leases on a straight-line basis from the lease commencement date until the end of the lease term. The Company records finance lease cost as a combination of the amortization expense for the leased assets and interest expense for the outstanding lease liabilities using the discount rate discussed above.

Recently Adopted Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 for the year ended December 31, 2024. See Note 15, Segment Information.

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities to disclose specific categories in the effective tax rate reconciliation, as well as additional information for reconciling items that exceed a quantitative threshold. ASU 2023-09 also requires all entities to disclose income taxes paid disaggregated by federal, state and foreign taxes, and further disaggregated for specific jurisdictions that exceed 5% of total income taxes paid, among other expanded disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09 on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This standard requires entities to provide additional disclosure regarding certain expenses presented within the statements of operations, and aims to improve such disclosures and address requests from investors for more detailed information about the types of expenses incurred by public entities. The standard is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of the adoption of ASU 2024-03 on its consolidated financial statements and related disclosures.

Correction of Immaterial Classification Error

Subsequent to the issuance of the consolidated financial statements as of and for the year ended December 31, 2023, the Company determined that as of December 31, 2023, it had incorrectly classified $5,273 of accrued but unpaid lease obligations as current portion of operating lease obligations instead of as current portion of operating lease obligations - related party. As a result, the Company also incorrectly classified $5,273 of operating lease obligations, net of current portion as operating lease obligations, net of current portion - related party. These misclassifications have been corrected in the accompanying condensed consolidated balance sheets and conform to the current period presentation of operating lease obligations. These reclassifications had no impact on reported results of operations, stockholders’ equity, cash flows, total current liabilities, or total liabilities.

Property and Equipment, Net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

8. Property and Equipment, Net

Property and equipment consisted of the following:


	December 31,
	2024			2023
Leasehold improvements	$	63,342		$	60,819
Building		13,600			4,943
Furniture, computers and equipment		63,248			64,585
		140,190			130,347
Accumulated depreciation		(72,949	)		(73,186	)
Construction in progress		21,887			59,067
	$	89,128		$	116,228

Depreciation expense was $13,623, $10,448 and $5,845, for the years ended December 31, 2024, 2023, and 2022, respectively.

Construction in progress primarily represents improvements at the Company’s leased facilities in Canton and Norwood, Massachusetts, as well as costs incurred to implement the remaining modules of the company-wide enterprise resource planning (ERP) system.

During the second quarter of 2024, the Company placed certain modules of its ERP system into service, the costs of which had previously been capitalized as construction in progress and will be expensed over their anticipated useful life, currently estimated to be five years. At such time, the Company determined that certain other modules within the ERP system and other internal-use software had no future use, and accordingly the Company recorded a write down of $3,959 of costs related to this internal-use software.

During the second quarter of 2024, the Company decided to pursue the potential sale of a purchased building, located on the Company’s Canton, Massachusetts campus, on which it had previously paused construction work. The Company identified this change in expectation regarding the use of the building as an impairment indicator. The Company determined the asset group to be comprised of the building and associated construction, and performed the impairment assessment at the asset group level. The Company determined the impairment charge by comparing the fair value of the asset group to its book value and recorded an impairment charge of $18,842 related to the building and associated unfinished construction work, allocated to each asset class within the asset group based on its relative carrying value. See Note 4, Fair Value Measurements.

During the year ended December 31, 2023, the Company identified certain impairment triggers relating to its asset groups, which included incurred expenses in excess of planned expenses for the ERP implementation. The impairment triggers indicated that the Company’s long-lived assets might be impaired. The Company performed recoverability tests during the year ended December 31,

2023. The estimated undiscounted cash flows directly attributable to the asset group exceeded the carrying value of the asset group. Therefore, the Company did not record any impairment related to its asset group as of December 31, 2023.

During the year ended December 31, 2022, the Company recorded a charge of $4,200 for the sale and donation of some equipment related to the construction in progress in one of its Canton, Massachusetts facilities. The disposal was the result of a change in the design of the construction plan for the manufacturing facility and the determination that this equipment was no longer compatible with the ongoing design. During 2022, the Company decided to temporarily pause the construction of this manufacturing facility due to inflation and market conditions that adversely impacted construction projects across the biotechnology and life sciences industries. In connection with this decision, the Company recorded a charge of $632 as cancellation fees to various vendors. These charges were included in selling, general and administrative expenses on the consolidated statements of operations and comprehensive income for the year ended December 31, 2022.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

9. Goodwill and Intangible Assets

Goodwill was $28,772 as of December 31, 2024 and 2023. There was no impairment of goodwill recorded during the years ended December 31, 2024, 2023, or 2022.

Identifiable intangible assets consisted of the following as of December 31, 2024:


	Original		Accumulated			Net Book
	Cost		Amortization			Value
Developed technology	$	32,620	$	(26,708	)	$	5,912
Customer relationship		10,690		(4,588	)		6,102
Patent		7,623		(7,623	)		—
Independent sales agency network		4,500		(4,500	)		—
Trade names and trademarks		2,080		(1,733	)		347
Non-compete agreements		1,010		(903	)		107
Total	$	58,523	$	(46,055	)	$	12,468

Identifiable intangible assets consisted of the following as of December 31, 2023:


	Original		Accumulated			Net Book
	Cost		Amortization			Value
Developed technology	$	32,620	$	(24,666	)	$	7,954
Customer relationship		10,690		(3,519	)		7,171
Patent		7,623		(7,623	)		—
Independent sales agency network		4,500		(4,500	)		—
Trade names and trademarks		2,080		(1,590	)		490
Non-compete agreements		1,010		(754	)		256
Total	$	58,523	$	(42,652	)	$	15,871

Amortization of intangible assets, calculated on a straight-line basis or using an accelerated method, which reflects the pattern in which the economic benefits of the intangible assets are consumed, was $3,403, $4,918 and $4,883 for the years ended December 31, 2024, 2023, and 2022, respectively. Estimated future annual amortization expense related to these intangible assets is as follows:


2025	$	3,323
2026		3,043
2027		2,283
2028		1,968
2029		1,094
Thereafter		757
Total	$	12,468

Restructuring - Additional Information (Detail) $ in Thousands			3 Months Ended	12 Months Ended
	Oct. 27, 2023 Employees	Feb. 03, 2023 USD ($) Employees	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 09, 2022 Employees	Oct. 21, 2020 Employees
Restructuring Cost and Reserve [Line Items]
Number of reduction in employees \| Employees	49	71
Percentage of reduction in employees	5.00%	7.00%
Employee-related charges \| $		$ 1,609	$ 1,820
Restructuring Charges \| $				$ 0	$ 3,796	$ 2,268
Restructuring Reserve Current \| $			$ 904	$ 0	$ 904
Birmingham Restructuring
Restructuring Cost and Reserve [Line Items]
Number of employees to retention Benefits \| Employees							25
La Jolla Restructuring
Restructuring Cost and Reserve [Line Items]
Number of employees to retention Benefits \| Employees								65

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill	$ 28,772,000	$ 28,772,000
Impairment of goodwill	0	0	$ 0
Amortization of Intangible Assets	$ 3,403,000	$ 4,918,000	$ 4,883,000

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Restructuring - Summary of liability related to the restructuring activities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Liability balance as of beginning	$ 904	$ 1,192
Expenses	0	$ 3,796	$ 2,268
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Selling, General and Administrative Expense
Cash distributions and other adjustments	(904)	$ (4,084)
Liability balance as of ending	0	904	1,192
Employee
Restructuring Cost and Reserve [Line Items]
Liability balance as of beginning	904	1,010
Expenses		3,429
Cash distributions and other adjustments	(904)	(3,535)
Liability balance as of ending	0	904	1,010
Other
Restructuring Cost and Reserve [Line Items]
Liability balance as of beginning	0	182
Expenses		367
Cash distributions and other adjustments	0	(549)
Liability balance as of ending	$ 0	$ 0	$ 182

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Long-Term Debt Obligations

12 Months Ended

Dec. 31, 2024

Long-Term Debt, Unclassified [Abstract]

Long-Term Debt Obligations

12. Long-Term Debt Obligations


	December 31,
	2024		2023
Term loan		—		66,563
Less debt discount and debt issuance cost		—		(332	)
Term loan, net of debt discount and debt issuance cost	$	—	$	66,231

2021 Credit Agreement

In August 2021, the Company, as borrower, its subsidiaries, as guarantors, and Silicon Valley Bank (SVB), and the several other lenders thereto (collectively, the Lenders) entered into a credit agreement, as amended (the 2021 Credit Agreement), providing for a term loan facility not to exceed $75,000 (the Term Loan Facility) and a revolving credit facility not to exceed $125,000 (the Revolving Facility and, together with the Term Loan Facility, the Facilities). In November 2024, the Company and the Lenders amended the 2021 Credit Agreement to allow for the issuance of the Convertible Preferred Stock, and to require the repayment of the Term Loan Facility within one business day of such issuance, among other terms (the 2024 Amendment).

The Company’s obligations to the Lenders are secured by substantially all of the Company’s assets, including intellectual property. Capitalized terms used herein and not otherwise defined are defined as set forth in the 2021 Credit Agreement, as amended by the 2024 Amendment.

Advances made under the 2021 Credit Agreement were either SOFR Loans or ABR Loans, at the Company’s option. For SOFR Loans, the interest rate was a per annum interest rate equal to the Adjusted Term SOFR plus an Applicable Margin between 2.00% to 3.25% based on the Total Net Leverage Ratio. For ABR Loans, the interest rate was equal to (1) the highest of (a) the Wall Street Journal Prime Rate, (b) the Federal Funds Rate plus 0.50% and (c) the Adjusted Term SOFR rate plus 1.0%, plus (2) an Applicable Margin between 1.00% to 2.25% based on the Total Net Leverage Ratio.

The 2021 Credit Agreement required the Company to make consecutive quarterly installment payments equal to the following: (a) from September 30, 2021 through and including June 30, 2022, $469; (b) from September 30, 2022 through and including June 30, 2023, $938; (c) from September 30, 2023 through and including June 30, 2025, $1,406 and (d) from September 30, 2025 and the last day of each quarter thereafter until August 6, 2026 (the Term Loan Maturity Date), $1,875. The Company prepaid the Term Loan Facility in November 2024, and amounts borrowed under the Term Loan Facility may not be re-borrowed.

The Company must pay in arrears, on the first day of each quarter prior to August 6, 2026 (the Revolving Termination Date) and on the Revolving Termination Date, a fee for the Company’s non-use of available funds (the Commitment Fee). The Commitment Fee rate is between 0.25% to 0.45% based on the Total Net Leverage Ratio. The Company may elect to reduce or terminate the Revolving Facility in its entirety at any time by repaying all outstanding principal and unpaid accrued interest.

Under the 2021 Credit Agreement as amended by the 2024 Amendment, the Company is required to comply with certain financial covenants including the Consolidated Fixed Charge Coverage Ratio and Consolidated Total Net Leverage Ratio, tested quarterly. In addition, the Company is also required to make representations and warranties and comply with certain non-financial covenants that are customary in loan agreements of this type, including restrictions on the payment of dividends, repurchase of stock, incurrence of indebtedness, dispositions and acquisitions.

The Company recorded debt issuance costs and related fees of $604 in connection with entering into the Term Loan Facility, which were recorded as a reduction of the carrying value of the Term Loan Facility on the Company’s consolidated balance sheets, and amortized to interest expense over the expected term of the Term Loan Facility. Upon repayment of the Term Loan Facility, the remaining balance of these debt issuance costs of $215 was recorded as a loss on debt extinguishment in the consolidated statements of operations and comprehensive income. In connection with entering into the Revolving Facility, the Company recorded debt issuance costs and related fees of $1,223, which are recorded as other assets and are being amortized to interest expense through the maturity date of the Revolving Facility.

As of December 31, 2024 and 2023, the Company had outstanding borrowings of $0 and $66,563 under the Term Loan Facility, respectively, and $0 under the Revolving Facility with $125,000 available for future revolving borrowings.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (a)(1)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1B
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (g)
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accounts receivable, net

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Accounts receivable, net

5. Accounts receivable, net

Accounts receivable consisted of the following:


	December 31,
	2024			2023
Accounts receivable	$	119,437		$	88,859
Less - allowance for credit losses		(9,576	)		(6,860	)
	$	109,861		$	81,999

The Company’s allowance for credit losses is comprised of the following:


Balance as of December 31, 2022	$	6,362
Cumulative-effect adjustment from adoption of ASU 2016-13, net of tax		615
Additions		1,297
Write-offs		(1,414	)
Balance as of December 31, 2023	$	6,860
Additions		3,938
Write-offs		(1,222	)
Balance as of December 31, 2024	$	9,576

Segment Information - Schedule of Segment Reporting Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	$ 482,043	$ 433,140	$ 450,893
Cost of goods sold	115,741	106,481	105,019
Net income and comprehensive income	861	4,945	15,532
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	482,043	433,140	450,893
Cost of goods sold	115,741	106,481	105,019
Clinical expense	23,614	19,377	15,156
Salaries, wages, and other compensation	181,773	177,396	179,947
Other segment items	160,054	124,941	135,239
Net income and comprehensive income	861	4,945	15,532
Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net income and comprehensive income	$ 0	$ 0	$ 0

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Nature of the Business and Basis of Presentation - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2024 Segments
Business Acquisition [Line Items]
Number of Operating Segments	1
Number of Reportable Segments	1

Share-Based Compensation - Schedule of Fair Value of Stock Options Granted to Employees and Directors (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Risk-free interest rate	4.27%	4.00%
Expected term (in years)	6 years 2 months 15 days	6 years 3 months
Expected volatility	52.24%	51.00%
Expected dividend yield	0.00%	0.00%
Underlying stock price	$ 3.43	$ 2.47

Significant Accounting Policies -Schedule of Finite-Lived Intangible Assets (Detail)	Dec. 31, 2024
Trade names and trademarks \| Minimum
Significant Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year
Trade names and trademarks \| Maximum
Significant Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	12 years
Developed technology \| Minimum
Significant Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years
Developed technology \| Maximum
Significant Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	12 years
Customer relationships
Significant Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Non-compete agreements
Significant Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years

Fair Value Measurement

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurement

4. Fair Value Measurement

During the second quarter of 2024, the Company determined that a purchased building and unfinished construction work had been impaired and recorded an impairment charge of $18,842 to record the building and unfinished construction work at its then fair value of $13,600 for impairment purposes. The Company determined the fair value of the building by estimating rental income, net of expenses to maintain the building over an anticipated lease term, as well as costs estimated to complete construction prior to commencement of the lease; these cash flows were then discounted over an anticipated lease term. The significant unobservable quantitative inputs to the fair value of the building at the time of the impairment are as follows:


Unobservable input	Range
Discount rate		8.0	%
Terminal capitalization rate		6.5	%
Operating expense ratio	24.3% - 32.9%

For more information, see Note 8, Property and Equipment, Net.

Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 140,190	$ 130,347
Accumulated depreciation	(72,949)	(73,186)
Construction in progress	21,887	59,067
Property and Equipment, Net, Total	89,128	116,228
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	63,342	60,819
Building
Property, Plant and Equipment [Line Items]
Property and equipment, gross	13,600	4,943
Furniture, computers and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 63,248	$ 64,585

Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

16. Segment Information

The Company offers a comprehensive portfolio of regenerative medicine products. The Company organizes its products into two product categories, Advanced Wound Care (AWC) and Surgical & Sports Medicine (SSM), which serve two adjacent markets. Many of the Company’s products are clinically interchangeable and certain products are categorized as both AWC and SSM products. The Company’s products all contain regenerative medicine technologies and have the same customers and target market, require similar raw materials and commercial infrastructure, and exist within the same regulatory environment.

The Company’s CODM is the Chief Executive Officer. The CODM reviews consolidated gross profit and operating results to assess the overall performance of the Company, and make decisions to allocate resources among the consolidated entity. The CODM uses both gross profit and net income (loss) for the consolidated entity in the annual budget and forecasting process, and considers budget-to-actual variances in gross profit and operating expenses on a quarterly basis when making decisions about the allocation of operating and capital resources to each predominant business activity (research and development, capital expenditure, and employee headcount and compensation).


	Year Ended December 31,
	2024		2023		2022
Net revenue	$	482,043	$	433,140	$	450,893
Less:
Cost of goods sold		115,741		106,481		105,019
Clinical expense		23,614		19,377		15,156
Salaries, wages, and other compensation (a)		181,773		177,396		179,947
Other segment items (b)		160,054		124,941		135,239
Segment net income		861		4,945		15,532

Reconciliation of segment net income:
Reconciling items		—		—		—
Consolidated net income	$	861	$	4,945	$	15,532

(a) Salaries, wages, and other compensation includes: commissions, share-based compensation, and payroll taxes and benefits.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Share-Based Compensation - Summary of Restricted Stock Units (Detail) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at December 31, 2022	3,898,331
Unvested Granted	2,156,874	3,192,372
Unvested Vested	(1,434,809)
Unvested Canceled/Forfeited	(91,066)
Unvested at December 31, 2023	4,529,330	3,898,331
Unvested at December 31, 2022	$ 3.54
Unvested Granted	3.36
Unvested Vested	3.67
Unvested Canceled/Forfeited	4.16
Unvested at December 31, 2023	$ 3.40	$ 3.54

Leases - Schedule of Lease Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Finance lease Amortization of right-of-use assets	$ 1,151	$ 479
Finance lease Interest on lease liabilities	197	137
Total finance lease cost	1,348	616
Operating lease cost	9,474	10,052
Short-term lease cost	2,893	2,921
Variable lease cost	6,615	5,595
Total lease cost	$ 20,330	$ 19,184

Goodwill and Intangible Assets - Identifiable intangible assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Original Cost	$ 58,523	$ 58,523
Accumulated Amortization	(46,055)	(42,652)
Net Book Value	12,468	15,871
Developed technology
Original Cost	32,620	32,620
Accumulated Amortization	(26,708)	(24,666)
Net Book Value	5,912	7,954
Trade names and trademarks
Original Cost	2,080	2,080
Accumulated Amortization	(1,733)	(1,590)
Net Book Value	347	490
Customer relationship
Original Cost	10,690	10,690
Accumulated Amortization	(4,588)	(3,519)
Net Book Value	6,102	7,171
Independent sales agency network
Original Cost	4,500	4,500
Accumulated Amortization	(4,500)	(4,500)
Patent
Original Cost	7,623	7,623
Accumulated Amortization	(7,623)	(7,623)
Non-compete agreements
Original Cost	1,010	1,010
Accumulated Amortization	(903)	(754)
Net Book Value	$ 107	$ 256

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

17. Income Taxes

The components of the income tax expense (benefit) consisted of the following for the years ended December 31, 2024, 2023, and 2022:


	Year Ended December 31,
	2024			2023			2022
Income tax expense (benefit):
Current tax expense (benefit)
Federal	$	5,127		$	1,275		$	178
State		1,913			2,157			2,575
Foreign		11			3			17
Total current tax expense		7,051			3,435			2,770
Deferred tax expense (benefit)
Federal		(8,193	)		3,311			5,446
State		(2,553	)		(1,312	)		(3,466	)
Foreign		27			13			—
Total deferred tax expense (benefit)		(10,719	)		2,012			1,980
Total income tax expense (benefit)	$	(3,668	)	$	5,447		$	4,750

On a periodic basis, the Company reassesses the valuation allowance on its deferred income tax assets, weighing positive and negative evidence to assess the recoverability of the deferred tax assets. The Company determined that its net U.S. deferred tax assets did not require a valuation allowance as of December 31, 2024 and 2023.

As of December 31, 2024, the Company had state net operating loss carry-forwards of approximately $7,441, expiring from the year ended December 31, 2027 through 2038. The Company had state research and development tax credits of approximately $1,078, expiring in the year ended December 31, 2038.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows:


	December 31,
	2024			2023
Net operating loss carryforwards
Federal	$	—		$	2,455
State		489			665
Foreign		—			4
Capitalized research and development		24,250			17,608
Operating leases		10,326			12,503
Property and equipment		4,084			—
Tax credit carryforwards		1,078			—
Stock-based compensation		2,661			1,699
Other		7,107			6,404
Net deferred tax assets before valuation allowance		49,995			41,338
Property and equipment		—			(1,493	)
Right-of-use assets		(9,251	)		(10,002	)
Intangibles		(1,282	)		(1,841	)
Net deferred tax assets	$	39,462		$	28,002

The Company has not recorded withholding taxes on the undistributed earnings of its Swiss subsidiary because it is the Company’s intent to reinvest such earnings indefinitely.

Ownership changes, as defined in the Internal Revenue Code, may limit the amount of net operating losses and research and development tax credit carryforwards that can be utilized annually to offset future taxable income. Subsequent ownership changes could further affect the limitation in future years. The Company completed an analysis and determined that it had not experienced an ownership change during the periods 2001 through 2024.

The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% and the reported consolidated income tax benefit (expense) are summarized as follows:


	December 31,
	2024			2023			2022
U.S. federal statutory income tax rate		21.0	%		21.0	%		21.0	%
Federal valuation allowance		0.0	%		0.0	%		0.0	%
State valuation allowance		0.0	%		0.0	%		0.0	%
Return to provision and other adjustments		34.1	%		(1.4	%)		(1.6	%)
Prior period correction		0.0	%		0.0	%		(8.5	%)
Executive compensation limited by 162(m)		(24.8	%)		12.0	%		3.1	%
State and local income taxes		3.8	%		8.8	%		6.8	%
Meals and entertainment		(3.8	%)		5.9	%		0.0	%
Nondeductible lobbying expenses		(6.4	%)		1.7	%		0.4	%
Stock-based compensation		11.8	%		1.3	%		0.3	%
Foreign rate differential		0.4	%		(0.1	%)		0.1	%
Uncertain tax position reserves		22.1	%		0.7	%		0.3	%
Nondeductible fringe benefits		(4.5	%)		1.0	%		0.4	%
State credits		0.0	%		1.1	%		0.9	%
Other nondeductible expenses		(0.9	%)		0.4	%		0.2	%
Research and development credits		147.9	%		0.0	%		0.0	%
Nondeductible transaction costs		(70.2	%)		0.0	%		0.0	%
Effective income tax rate		130.5	%		52.4	%		23.4	%

The Company recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The amount of unrecognized tax benefits is $2,030, $2,837 and $2,642, as of December 31, 2024, 2023, and 2022, respectively.

A tabular roll forward of the Company’s uncertainties in its income tax provision liability is presented below:


	Year Ended December 31,
	2024			2023			2022
Gross balance at beginning of year	$	1,619		$	1,632		$	1,612
Additions based on tax positions related to the current period		—			113			206
Reductions for tax positions of prior years		(746	)		(126	)		(186	)
Gross balance at end of year	$	873		$	1,619		$	1,632

The Company files income tax returns in the United States federal and state jurisdictions and Switzerland. With limited exceptions, the Company is no longer subject to federal, state, local or foreign examinations for years prior to December 31, 2020. However, carryforward attributes that were generated prior to December 31, 2020 may still be adjusted upon examination by state or local tax authorities if they either have been or will be used in a future period.

The Company recognizes interest and penalty-related expenses in tax expenses. The Company recorded $11 and $500 of interest for uncertain tax positions for the years ended December 31, 2024 and 2023, respectively, which is classified in accrued expenses and other current liabilities in the consolidated balance sheets. These amounts are not reflected in the reconciliation above.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

Accrued expenses and other current liabilities consisted of the following:


	December 31,
	2024		2023
Personnel costs	$	23,836	$	18,287
Royalties		7,381		3,075
Accrued but unpaid lease obligations and interest (Note 17)		—		2,326
Accrued milestone payment (Note 20)		2,500		2,500
Accrued taxes		4,286		2,799
Other		1,450		1,087
	$	39,453	$	30,074

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

Identifiable intangible assets consisted of the following as of December 31, 2024:


	Original		Accumulated			Net Book
	Cost		Amortization			Value
Developed technology	$	32,620	$	(26,708	)	$	5,912
Customer relationship		10,690		(4,588	)		6,102
Patent		7,623		(7,623	)		—
Independent sales agency network		4,500		(4,500	)		—
Trade names and trademarks		2,080		(1,733	)		347
Non-compete agreements		1,010		(903	)		107
Total	$	58,523	$	(46,055	)	$	12,468

Identifiable intangible assets consisted of the following as of December 31, 2023:


	Original		Accumulated			Net Book
	Cost		Amortization			Value
Developed technology	$	32,620	$	(24,666	)	$	7,954
Customer relationship		10,690		(3,519	)		7,171
Patent		7,623		(7,623	)		—
Independent sales agency network		4,500		(4,500	)		—
Trade names and trademarks		2,080		(1,590	)		490
Non-compete agreements		1,010		(754	)		256
Total	$	58,523	$	(42,652	)	$	15,871

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future annual amortization expense related to these intangible assets is as follows:


2025	$	3,323
2026		3,043
2027		2,283
2028		1,968
2029		1,094
Thereafter		757
Total	$	12,468

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 135,571	$ 103,840
Restricted cash	580	498
Accounts receivable, net of allowance for credit losses of $9,576 and $6,860	109,861	81,999
Inventories, net	26,219	28,253
Prepaid expenses and other current assets	13,710	10,454
Total current assets	285,941	225,044
Property and equipment, net	89,128	116,228
Intangible assets, net	12,468	15,871
Goodwill	28,772	28,772
Operating lease right-of-use assets, net	37,110	40,118
Deferred tax asset, net	39,462	28,002
Other assets	5,005	5,990
Total assets	497,886	460,025
Current liabilities:
Current portion of term loan		5,486
Current portion of finance lease obligations	1,170	1,081
Current portion of operating lease obligations - related party	3,671	8,413
Current portion of operating lease obligations	4,272	4,731
Accounts payable	28,911	30,724
Accrued expenses and other current liabilities	39,453	30,074
Total current liabilities	77,477	80,509
Term loan, net of current portion		60,745
Finance lease obligations, net of current portion	718	1,888
Operating lease obligations, net of current portion - related party	8,283	11,954
Operating lease obligations, net of current portion	25,198	25,053
Other liabilities	894	1,213
Total liabilities	112,570	181,362
Commitments and contingencies (Note 20)
Series A redeemable convertible preferred stock, $0.0001 par value; 130,000 and 0 shares authorized, issued and outstanding at December 31, 2024 and 2023, respectively; liquidation preference of $131,387 and $0 at December 31, 2024 and 2023, respectively.	122,419
Stockholders' equity:
Preferred stock, $0.0001 par value; 870,000 and 1,000,000 shares authorized at December 31, 2024 and 2023, respectively; none issued or outstanding
Common stock, $0.0001 par value; 400,000,000 shares authorized; 126,458,784 and 132,044,944 shares issued; 125,730,236 and 131,316,396 shares outstanding at December 31, 2024 and 2023, respectively.	13	13
Additional paid-in capital	302,994	319,621
Accumulated deficit	(40,110)	(40,971)
Total stockholders' equity	262,897	278,663
Total liabilities, redeemable convertible preferred stock, and stockholders' equity	$ 497,886	$ 460,025

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Group purchase organization rebate	$ 6,102	$ 5,623	$ 6,654
Sales Revenue \| Geographic Concentration Risk \| International
Significant Accounting Policies [Line Items]
Concentration Risk, Percentage	1.00%

Leases - Additional Information (Detail) $ in Thousands		1 Months Ended	12 Months Ended			60 Months Ended
Leases - Additional Information (Detail) $ in Thousands	Aug. 11, 2021 USD ($)	Nov. 30, 2024 USD ($) Option	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2027 USD ($)	Mar. 31, 2025 USD ($)	Aug. 31, 2021 USD ($)
Variable lease expenses			$ 6,615	$ 5,595
Right-of-use asset			37,110	40,118
Lease liability			138,356
Undiscounted minimum lease payments			146,686
Loss on lease termination			$ 0	$ (559)	$ 0
Property and equipment [Member]
Right-of-use asset								$ 4,943
275 Dan Road SPE LLC [Member]
Purchase of building under the lease amount	$ 6,013
Dan Road Leases [Member] \| Scenario Forecast [Member]
Variable lease expenses						$ 8,060
Fleet Lease
Lessee, operating lease, term of contract			367 days
Smithfield Facility
Lessee, operating lease, term of contract		16 years
Lessee, operating lease, renewal term		10 years
Lessee operating lease number of renewal options \| Option		2
Right-of-use asset		$ 3,425
Lease liability		3,425
Undiscounted minimum lease payments		102,645
Tenant improvement allowance		$ 18,376
Smithfield Facility \| Scenario Forecast [Member]
Unilateral rights to terminate lease payment							$ 1,250
Maximum
Lessee, operating lease, renewal term			10 years
Minimum
Lessee, operating lease, renewal term			5 years

Long-Term Debt Obligations (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Term loan	$ 0	$ 66,563
Less debt discount and debt issuance cost	0	(332)
Term loan, net of debt discount and debt issuance cost	$ 0	$ 66,231

- Definition

Amount of unamortized debt discount (premium) and debt issuance costs.

+ References + Details

Earnings (Loss) per Share (EPS)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Earnings (Loss) per Share (EPS)

18. Earnings (Loss) per Share (EPS)

A reconciliation of the numerator and denominator used in the calculation of the basic and diluted net income (loss) attributable to the Class A common stockholders is as follows:


	Year Ended December 31,
	2024			2023		2022
Numerator:
Net income	$	861		$	4,945	$	15,532
Accretion of Convertible Preferred Stock to redemption value		(412	)		—		—
Cumulative dividend on Convertible Preferred Stock		(1,386	)		—		—
Income tax on above		—			—		—
Net income (loss) attributable to common stockholders - basic and diluted	$	(937	)	$	4,945	$	15,532
Denominator:
Weighted average common shares outstanding —basic		131,673,278			131,231,317		130,070,231
Dilutive effect of restricted stock units		—			710,813		149,215
Dilutive effect of options		—			804,597		2,163,706
Weighted-average common shares outstanding—diluted		131,673,278			132,746,727		132,383,152
Earnings per share—basic	$	(0.01	)	$	0.04	$	0.12
Earnings per share—diluted	$	(0.01	)	$	0.04	$	0.12

For the years ended December 31, 2024, 2023, and 2022, outstanding stock-based awards of 15,092,510, 3,147,503 and 3,445,191, respectively, were excluded from the diluted EPS calculation as they were anti-dilutive. For the year ended December 31, 2024, 25,133,474 shares of common stock available upon conversion of Convertible Preferred Stock were excluded from the diluted EPS calculation as they were anti-dilutive.

Inventories

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories

6. Inventories

Inventories, net of related reserves for excess and obsolescence, consist of the following:


	December 31,
	2024		2023
Raw materials	$	13,252	$	12,988
Work in process		923		810
Finished goods		12,044		14,455
	$	26,219	$	28,253

Raw materials include various components used in the Company’s manufacturing process. The Company’s excess and obsolete inventory review process includes analysis of historical sales as compared to inventory levels and working with operations to maximize recovery of excess inventory. During the years ended December 31, 2024, 2023, and 2022, the Company charged $8,210, $6,580, and $9,648, respectively, for inventory excess and obsolescence to cost of goods sold within the consolidated statements of operations and comprehensive income.

Earnings (Loss) per Share (EPS) - Basic and diluted net income (loss) per share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net income	$ 861	$ 4,945	$ 15,532
Accretion of Convertible Preferred Stock to redemption value	(412)	0	0
Cumulative dividend on Convertible Preferred Stock	(1,386)
Net Income (Loss) Available to Common Stockholders, Basic, Total	(937)	4,945	15,532
Net income (loss) attributable to common stockholders - diluted	$ (937)	$ 4,945	$ 15,532
Weighted-average common shares outstanding—basic	131,673,278	131,231,317	130,070,231
Weighted-average common shares outstanding—diluted	131,673,278	132,746,727	132,383,152
Earnings per share-basic	$ (0.01)	$ 0.04	$ 0.12
Earnings per share-diluted	$ (0.01)	$ 0.04	$ 0.12
Restricted Stock Units (RSUs) [Member]
Weighted-average common shares outstanding—diluted		710,813	149,215
Employee Stock Option
Weighted-average common shares outstanding—diluted		804,597	2,163,706

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	$ 5,127	$ 1,275	$ 178
State	1,913	2,157	2,575
Foreign	11	3	17
Total current tax expense	7,051	3,435	2,770
Deferred tax expense (benefit)
Federal	(8,193)	3,311	5,446
State	(2,553)	(1,312)	(3,466)
Foreign	27	13
Total deferred tax expense (benefit)	(10,719)	2,012	1,980
Total income tax expense (benefit)	$ (3,668)	$ 5,447	$ 4,750

Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Significant Accounting Policies

2. Significant Accounting Policies

Use of Estimates

Foreign Currency

Segment Reporting

Cash and Cash Equivalents

risk on cash. The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Restricted Cash

The Company had restricted cash of $580 and $498 as of December 31, 2024 and 2023, respectively. Restricted cash represents employee deposits in connection with the Company’s health benefit plan.

Accounts Receivable, Net

Inventories

Property and Equipment, Net


Leasehold improvements		Lesser of the life of the lease or the economic life of the asset
Building		30 years
Furniture and computers		3 - 5 years
Equipment		5 - 10 years

Internal Use Software

enhance the functionality of the software are also capitalized. Costs incurred for maintenance activities relating to the software are expensed as incurred.

When the Company places the software in service, it begins amortizing the capitalized costs over the estimated useful life of the software, generally three to five years.

Goodwill

Intangible Assets Subject to Amortization


Trade names and trademarks		1-12 years
Developed technology		6-12 years
Customer relationships		10 years
Non-compete agreements		5 years

Impairment of Long-Lived Assets

Revenue Recognition

Product Revenue

Reserves for Variable Consideration

Product Returns

Rebates and Allowances

GPO Fees

Other Revenue Policies

License and manufacturing agreement

Stock-Based Compensation

Advertising

Research and Development Costs

Income Taxes

Fair Value of Financial Instruments

•

Level 1—Quoted prices in active markets for identical assets or liabilities.

•

Nonrecurring Fair Value Measurements of Nonfinancial Assets

Classification and Accretion of Series A Redeemable Convertible Preferred Stock

Earnings per Share (EPS)

Leases

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

Correction of Immaterial Classification Error

Convertible Preferred Stock

12 Months Ended

Dec. 31, 2024

Temporary Equity Disclosure [Abstract]

Convertible Preferred Stock

13. Convertible Preferred Stock

On November 12, 2024, the Company entered into a subscription agreement (Subscription Agreement) with Avista Healthcare Partners III, L.P. (Avista Onshore) and AHP III Orchestra Holdings, L.P. (together with Avista Onshore, the Investors, and each an Investor and now related parties of the Company) pursuant to which the Investors purchased 130,000 shares of the Company’s newly-created Series A Convertible Preferred Stock, par value $0.0001 per share, for a purchase price of $1,000 per share, or aggregate gross proceeds of $130,000 to the Company, prior to deduction of commissions, fees and expenses (Offering). The net proceeds will be used to fund strategic growth initiatives including, but not limited to, operating and commercial activities, clinical development programs, working capital, capital expenditures, debt repayment and for general corporate purposes. In addition, $25,479 of the net proceeds were used to fund the repurchase of an aggregate of 7,921,731 shares of Class A common stock from certain existing stockholders of the Company. See Note 14, Stockholders’ Equity.

The holders of the Convertible Preferred Stock have the following rights and preferences:

Voting

The Convertible Preferred Stock is subject to certain transfer restrictions, and contain terms regarding anti-dilution, liquidation preference, and preemptive rights, and its holders vote together with the Class A common stock on an as-converted basis. The Preferred Stockholders are entitled to elect one member and one observer to the Company’s Board of Directors, subject to the terms of the Convertible Preferred Stock.

Dividends

Holders of the Convertible Preferred Stock are entitled to a regular dividend at the rate of 8.0% per annum, compounding and payable quarterly in kind or in cash, at the Company’s election, subject to the 19.99% ownership limitations described below. Any accrued but unpaid dividends will become part of the liquidation preference of such share, as set forth in the Certificate of Designation. As of December 31, 2024, the Company had not paid any dividends in cash, and all such dividends had been accrued and added to the liquidation preference of each share.

Conversion and Cash-In-Lieu Payments

Pursuant to the Certificate of Designations of Series A Convertible Preferred Stock (Certificate of Designation), each share of Convertible Preferred Stock is initially convertible into 263.7358 shares of Common Stock, subject to adjustment as provided therein. Until the Company receives stockholder approval, as contemplated by Nasdaq listing rules, with respect to the issuance of shares of Class A common stock upon conversion of the Convertible Preferred Stock in excess of the limitations imposed by such rules, holders of the Convertible Preferred Stock (Preferred Stockholders) cannot convert the Convertible Preferred Stock into a number of shares of Class A common stock in excess of 26,502,042 shares, which represents 19.99% of the outstanding shares of Common Stock at the time of signing the Subscription Agreement, or to the extent such conversion will result in a Preferred Stockholder beneficially owning greater than 19.99% of the Company’s then-outstanding shares. If, prior to receipt of the stockholder approval, a Preferred Stockholder elects to convert any Convertible Preferred Stock that would result in the issuance, when aggregated with the number of shares previously issued upon conversion of the Convertible Preferred Stock, of more than 19.99% of the outstanding shares of Class A common stock at the time of signing the Subscription Agreement, then the Company will, in lieu of issuing shares of Common Stock, pay the Preferred Stockholder a cash amount equal to the product of the number of shares of Common Stock that could not be issued due to such limitation and the 10-day trailing volume weighted average price of the Common Stock as of the trading day immediately prior to the conversion date (Cash-in-Lieu Payments), which Cash-in-Lieu Payments shall be paid no later than November 4, 2026, together with accrued interest of 10% per annum, to the extent an earlier cash payment is prohibited pursuant to the terms of the 2021 Credit Agreement, as amended by the 2024 Amendment.

The Convertible Preferred Stock is convertible at the option of the Company after the second anniversary of issuance if the closing price of the Company’s common stock equals or exceeds 200% of the conversion price for twenty trading days out of a period of thirty consecutive trading days.

Liquidation

The Convertible Preferred Stock ranks senior to shares of Class A common stock with respect to payment of dividends and the distribution of assets upon a liquidation, dissolution or winding up of the Company. The Convertible Preferred Stock initially had a

liquidation preference of $1,000 per share; provided that the liquidation preference upon a change of control on or before November 12, 2026 will be increased to be no less than $1,500 per share.

Redemption

The Convertible Preferred Stock is redeemable at the option of the Preferred Stockholders at any time after November 12, 2031, for the amount of the then-applicable liquidation preference per share, plus accrued but unpaid dividends.

Upon issuance of the Convertible Preferred Stock, the Company assessed the embedded conversion and liquidation features of the securities and determined that such features did not require the Company to separately account for these features. The Company also concluded that no beneficial conversion feature existed on the issuance date of the Convertible Preferred Stock.

The Company recorded the Convertible Preferred Stock at its fair value at the date of issuance, $130,000, net of issuance costs of $9,379, in the accompanying consolidated balance sheets and statements of convertible preferred stock and stockholders’ equity. The SEC’s Accounting Series Release No. 268 (ASR 268), which requires preferred securities that are redeemable for cash or other assets to be classified outside of permanent equity if they are redeemable (i) at a fixed or determinable price on a fixed or determinable date, (ii) at the option of the holder, or (iii) upon the occurrence of an event that is not solely within the control of the issuer. The Convertible Preferred Stock is redeemable at the option of the holder, and accordingly the Company classified the Convertible Preferred Stock as mezzanine equity.

The Company recognizes changes in the redemption value of the Convertible Preferred Stock, which include accretion of the associated issuance costs and accrual of unpaid dividends using the effective interest method, over the period from the issuance date to the earliest redemption date, November 12, 2031. During the year ended December 31, 2024, the Company increased the carrying value of the Convertible Preferred Stock by $1,798 which resulted in a corresponding decrease to additional paid-in-capital during the same period.

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Estimated Useful Lives of Property Plant and Equipment


Leasehold improvements		Lesser of the life of the lease or the economic life of the asset
Building		30 years
Furniture and computers		3 - 5 years
Equipment		5 - 10 years

Schedule of Finite-Lived Intangible Assets

Amortization of intangible assets with finite lives is calculated on a straight-line basis or using an accelerated method based on the following estimated useful lives:


Trade names and trademarks		1-12 years
Developed technology		6-12 years
Customer relationships		10 years
Non-compete agreements		5 years

Employee Benefit Plan - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Company made employer contributions	$ 6,885	$ 7,430	$ 6,601

Accounts receivable, net - Summary of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Balance at beginning of period	$ 6,860	$ 6,362
Additions	3,938	1,297
Write-offs	(1,222)	(1,414)
Balance at end of period	$ 9,576	6,860
Cumulative Effect of Adoption
Balance at beginning of period		$ 615

Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Restricted Cash, Current	$ 580,000	$ 498,000
Impairment of goodwill	0	0	$ 0
Impairment of long-lived assets	$ 18,842,000	$ 0	0
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate202307Member	us-gaap:AccountingStandardsUpdate201613Member
Total accrued but unpaid lease obligations		$ 5,273,000
Internal Use Software \| Minimum
Significant Accounting Policies [Line Items]
Capitalized costs estimated useful life	3 years
Internal Use Software \| Maximum
Significant Accounting Policies [Line Items]
Capitalized costs estimated useful life	5 years
Selling, General and Administrative Expenses
Significant Accounting Policies [Line Items]
Advertising Expense	$ 3,825,000	$ 5,225,000	$ 4,812,000

Employee Benefit Plan

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Employee Benefit Plan

22. Employee Benefit Plan

The Company maintains a 401(k) Savings Plan (the "Plan") for the United States employees. Under the Plan, eligible employees may contribute, subject to statutory limitations, a percentage of their salary to the Plan. Contributions made by the Company are made at the discretion of the Board of Directors and vest immediately. During the years ended December 31, 2024, 2023, and 2022, the Company made employer contributions of $6,885, $7,430 and $6,601, respectively.

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024	Jun. 30, 2022	Dec. 31, 2018
Fair value of option vested	$ 4,136	$ 3,117
Weighted average grant-date fair value	$ 1.89	$ 1.32
Options granted	2,640,601	3,554,528
Restricted Stock Units [Member]
Unrecognized stock compensation expense	$ 8,316
Share-based compensation expected to be recognized over a weighted-average period	2 years 5 months 15 days
RSU granted during the period	2,156,874	3,192,372
Option
Unrecognized stock compensation expense	$ 6,514
Share-based compensation expected to be recognized over a weighted-average period	2 years 3 months 29 days
Selling, General and Administrative Expenses
Stock-based compensation expense	$ 10,578	$ 8,996	$ 6,552
2003 and 2018 Stock Incentive Plan \| Maximum
Stock option granted vesting period	5 years
2003 and 2018 Stock Incentive Plan \| Minimum
Stock option granted vesting period	4 years
2003 and 2018 Stock Incentive Plan \| Option
Stock option expiration period	10 years
Common Class A \| 2018 Stock Incentive Plan
Common stock awards authorized				15,900,000	7,826,970	9,198,996

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended				12 Months Ended
	Dec. 31, 2024	Apr. 30, 2024	Dec. 31, 2023	Nov. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Contractually Owed Accrued Royalties	$ 7,381		$ 3,075		$ 7,381	$ 3,075
Selling, general and administrative					294,513	269,754	$ 283,808
Other commitments	26,303				26,303
License Agreement University
Contractually Owed Accrued Royalties	1,187				1,187
Accrued Royalties	0		1,187		0	1,187
Selling, general and administrative	1,187
Royalty Expense						0	0
License Agreement Resorba \| Selling, General and Administrative Expenses
Royalty Expense					24,736	5,456	$ 7,279
Vivex
Payment of upfront license fee				$ 5,000
Upfront licensing fee, Current	3,158		3,158		3,158	3,158
Upfront license fee, Noncurrent	$ 2,368		4,737		$ 2,368	$ 4,737
Option payment remitted		$ 5,000
Milestone Payment			$ 2,500
Straightline basis over the estimated life period				3 years

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the three months ended December 31, 2024, no director or officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-rule 10b5-1 trading arrangement," as each term is defined in item 408(a) of Regulation S-K.
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Gross balance at beginning of year	$ 1,619	$ 1,632	$ 1,612
Additions based on tax positions related to the current period		113	206
Reductions for tax positions of prior years	(746)	(126)	(186)
Gross balance at end of year	$ 873	$ 1,619	$ 1,632

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net revenue	$ 482,043,000	$ 433,140,000	$ 450,893,000
Cost of goods sold	115,741,000	106,481,000	105,019,000
Gross profit	366,302,000	326,659,000	345,874,000
Operating expenses:
Selling, general and administrative	294,513,000	269,754,000	283,808,000
Research and development	50,271,000	44,380,000	39,762,000
Impairment of property and construction (Note 8)	18,842,000	0	0
Write down of capitalized internal-use software costs	3,959,000	0	0
Total operating expenses	367,585,000	314,134,000	323,570,000
Income (loss) from operations	(1,283,000)	12,525,000	22,304,000
Other expense, net:
Interest expense, net	(1,544,000)	(2,190,000)	(2,009,000)
Other income (expense), net	20,000	57,000	(13,000)
Total other expense, net	(1,524,000)	(2,133,000)	(2,022,000)
Net income (loss) before income taxes	(2,807,000)	10,392,000	20,282,000
Income tax (expense) benefit	3,668,000	(5,447,000)	(4,750,000)
Net income and comprehensive income	861,000	4,945,000	15,532,000
Accretion of redeemable convertible preferred stock to redemption value	(412,000)	0	0
Cumulative dividend on redeemable convertible preferred stock	(1,386,000)	0	0
Net Income (Loss) Available to Common Stockholders, Basic, Total	(937,000)	4,945,000	15,532,000
Net income (loss) attributable to common stockholders - diluted	$ (937,000)	$ 4,945,000	$ 15,532,000
Net income (loss), per share:
Basic	$ (0.01)	$ 0.04	$ 0.12
Diluted	$ (0.01)	$ 0.04	$ 0.12
Weighted-average common shares outstanding
Basic	131,673,278	131,231,317	130,070,231
Diluted	131,673,278	132,746,727	132,383,152

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment consisted of the following:


	December 31,
	2024			2023
Leasehold improvements	$	63,342		$	60,819
Building		13,600			4,943
Furniture, computers and equipment		63,248			64,585
		140,190			130,347
Accumulated depreciation		(72,949	)		(73,186	)
Construction in progress		21,887			59,067
	$	89,128		$	116,228

Inventories (Tables)

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories, net of related reserves for excess and obsolescence, consist of the following:


	December 31,
	2024		2023
Raw materials	$	13,252	$	12,988
Work in process		923		810
Finished goods		12,044		14,455
	$	26,219	$	28,253

Earnings (Loss) per Share (EPS) (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of the numerator and denominator used in the calculation of the basic and diluted net income (loss) attributable to the Class A common stockholders is as follows:


	Year Ended December 31,
	2024			2023		2022
Numerator:
Net income	$	861		$	4,945	$	15,532
Accretion of Convertible Preferred Stock to redemption value		(412	)		—		—
Cumulative dividend on Convertible Preferred Stock		(1,386	)		—		—
Income tax on above		—			—		—
Net income (loss) attributable to common stockholders - basic and diluted	$	(937	)	$	4,945	$	15,532
Denominator:
Weighted average common shares outstanding —basic		131,673,278			131,231,317		130,070,231
Dilutive effect of restricted stock units		—			710,813		149,215
Dilutive effect of options		—			804,597		2,163,706
Weighted-average common shares outstanding—diluted		131,673,278			132,746,727		132,383,152
Earnings per share—basic	$	(0.01	)	$	0.04	$	0.12
Earnings per share—diluted	$	(0.01	)	$	0.04	$	0.12

Earnings (Loss) per Share (EPS) - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Outstanding Stock Based Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the diluted EPS	15,092,510	3,147,503	3,445,191
Common Stock Available Upon Conversion of Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the diluted EPS	25,133,474

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Significant Unobservable Quantitative Inputs to the Fair value

The significant unobservable quantitative inputs to the fair value of the building at the time of the impairment are as follows:


Unobservable input	Range
Discount rate		8.0	%
Terminal capitalization rate		6.5	%
Operating expense ratio	24.3% - 32.9%

Convertible Preferred Stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 12, 2024	Nov. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Temporary Equity [Line Items]
Preferred stock, par value			$ 0.0001	$ 0.0001
Aggregate gross proceeds			$ 120,688	$ 0	$ 0
Repurchase of common stock value			25,479	$ 0	$ 0
Decrease to additional paid-in-capital			1,798
Common Class A
Temporary Equity [Line Items]
Number of shares repurchase		7,921,731
Convertible Preferred Stock
Temporary Equity [Line Items]
Fair value of preferred stock	$ 130,000
Stock issuance costs	$ 9,379
Increased carrying value of stock			1,798
Decrease to additional paid-in-capital			$ 1,798
Common Stock
Temporary Equity [Line Items]
Number of shares repurchase			7,921,731
Subscription Agreement
Temporary Equity [Line Items]
Annual percentage of cash in leiu payments with accured interest	10.00%
Subscription Agreement \| Common Class A
Temporary Equity [Line Items]
Repurchase of common stock value	$ 25,479
Number of shares repurchase	7,921,731
Number of common shares issuable upon conversion	26,502,042
Subscription Agreement \| Convertible Preferred Stock
Temporary Equity [Line Items]
Preferred stock dividend percentage	8.00%
Common stock receivable to investor maximum percentage of outstanding shares	19.99%
Common stock receivable to investor maximum percentage of outstanding shares in amount	19.99%
Shares of common stock in excess percentage	19.99%
Liquidation preference per share	$ 1,000
Subscription Agreement \| Convertible Preferred Stock \| Maximum
Temporary Equity [Line Items]
Liquidation preference per share	$ 1,500
Subscription Agreement \| Common Stock
Temporary Equity [Line Items]
Number of stock initially converted	263.7358
Percentage of common stock conversion price	200.00%
Subscription Agreement \| Series A \| Convertible Preferred Stock
Temporary Equity [Line Items]
Shares issued	130,000
Preferred stock, par value	$ 0.0001
Purchase price per share	$ 1,000
Aggregate gross proceeds	$ 130,000

Leases - Schedule of Accrued but Unpaid Lease Obligations (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Schedule Of Accrued But Unpaid Lease Obligations [Line Items]
Total accrued but unpaid lease obligations	$ 5,273
Accrued interest on accrued but unpaid lease obligations	2,326
Principal [Member]
Schedule Of Accrued But Unpaid Lease Obligations [Line Items]
Total accrued but unpaid lease obligations	$ 5,273

Accounts receivable, net (Tables)

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Schedule of accounts receivable

Accounts receivable consisted of the following:


	December 31,
	2024			2023
Accounts receivable	$	119,437		$	88,859
Less - allowance for credit losses		(9,576	)		(6,860	)
	$	109,861		$	81,999

Schedule of allowance for doubtful accounts

The Company’s allowance for credit losses is comprised of the following:


Balance as of December 31, 2022	$	6,362
Cumulative-effect adjustment from adoption of ASU 2016-13, net of tax		615
Additions		1,297
Write-offs		(1,414	)
Balance as of December 31, 2023	$	6,860
Additions		3,938
Write-offs		(1,222	)
Balance as of December 31, 2024	$	9,576

Significant Accounting Policies - Property, Plant and Equipment (Detail)	Dec. 31, 2024
Leasehold improvements
Significant Accounting Policies [Line Items]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember
Building
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	30 years
Furniture and computers \| Minimum
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Furniture and computers \| Maximum
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Equipment \| Minimum
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Equipment \| Maximum
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	10 years