Recent Developments & Product Releases

(1) The use of the trademark Patient SafetyNet™ is under license from the University HealthSystem Consortium.

Supply Chain and Inflationary Pressures

The following table sets forth, for the periods indicated, our results of operations expressed as U.S. Dollar amounts and as a percentage of revenue.

Comparison of the Three Months ended July 2, 2022 to the Three Months ended July 3, 2021

During the three months ended July 2, 2022, we shipped approximately 77,100 noninvasive technology boards and instruments.

Gross profit decreased to 45.5% for the three months ended July 2, 2022, compared to 63.2% for the three months ended July 3, 2021, primarily due to a change in product revenue mix from the inclusion of non-healthcare product sales.

Provision for Income Taxes. Our provision for income taxes for the three months ended July 2, 2022 and July 3, 2021 was as follows:

Comparison of the Six Months ended July 2, 2022 to the Six Months ended July 3, 2021

During the six months ended July 2, 2022, we shipped approximately 152,800 noninvasive technology boards and instruments.

Research and Development. Research and development expenses for the six months ended July 2, 2022 and July 3, 2021 were as follows:

Provision for Income Taxes. Our provision for income taxes for the six months ended July 2, 2022 and July 3, 2021 was as follows:

The following table summarizes our cash flows:

Decrease in cash, cash equivalents and restricted cash $ (527.8) $ (67.7)

Capital Resources and Prospective Capital Requirements

Critical Accounting Policies and Estimates

For details regarding any recently adopted and recently issued accounting standards, see Note 2, "Summary of Significant Accounting Policies", to our accompanying condensed consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q.

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