Balance Sheet Components (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
|---|
| Balance Sheet Related Disclosures [Abstract] |
|
| Schedule of Net Accounts Receivable Balance Concentrations by Major Category |
Net accounts receivable (gross accounts receivable, net of allowances) balance concentrations by major category as of March 31, 2025 and December 31, 2024 were as follows:
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|
|
|
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|
|
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March 31, |
|
|
December 31, |
|
Net accounts receivable |
|
2025 |
|
|
2024 |
|
Rental (1) |
|
$ |
6,269 |
|
|
$ |
4,863 |
|
Business-to-business and other receivables |
|
|
30,354 |
|
|
|
24,700 |
|
Total net accounts receivable |
|
$ |
36,623 |
|
|
$ |
29,563 |
|
(1) Rental includes Medicare, Medicaid/other government, private insurance, and patient pay.
|
| Schedule of Allowances for Accounts Receivable |
The following table sets forth the accounts receivable allowances as of March 31, 2025 and December 31, 2024:
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|
|
|
|
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March 31, |
|
|
December 31, |
|
Allowances - accounts receivable |
|
2025 |
|
|
2024 |
|
Doubtful accounts |
|
$ |
91 |
|
|
$ |
458 |
|
Sales returns |
|
|
484 |
|
|
|
413 |
|
Total allowances - accounts receivable |
|
$ |
575 |
|
|
$ |
871 |
|
|
| Breakdown of Company's Revenue from U.S. and Non-U.S. Sources |
A portion of revenue is earned from sales outside the United States. Approximately 78.9% and 79.9% of the non-U.S. revenue for the three months ended March 31, 2025 and 2024, respectively, were invoiced in Euros. A breakdown of the Company’s revenue from U.S. and non-U.S. sources for the three months ended March 31, 2025 and 2024, respectively, is as follows:
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|
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|
|
|
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Three months ended
March 31, |
|
|
|
2025 |
|
|
2024 |
|
U.S. revenue |
|
$ |
50,295 |
|
|
$ |
51,990 |
|
Non-U.S. revenue |
|
|
31,985 |
|
|
|
26,035 |
|
Total revenue |
|
$ |
82,280 |
|
|
$ |
78,025 |
|
|
| Schedule of Inventories |
Inventories that are considered current consist of the following:
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|
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|
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March 31, |
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Raw materials and work-in-progress |
|
$ |
19,401 |
|
|
$ |
19,224 |
|
Finished goods |
|
|
8,882 |
|
|
|
7,633 |
|
Less: reserves |
|
|
(2,010 |
) |
|
|
(2,045 |
) |
Inventories, net |
|
$ |
26,273 |
|
|
$ |
24,812 |
|
|
| Summary of Depreciation and Amortization Expense of Rental Equipment and Other Property and Equipment |
Depreciation and amortization expense related to rental equipment and other property and equipment are summarized below for the three months ended March 31, 2025 and 2024, respectively.
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|
|
|
|
Three months ended
March 31, |
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|
|
2025 |
|
|
2024 |
|
Rental equipment |
|
$ |
3,034 |
|
|
$ |
3,179 |
|
Other property and equipment |
|
|
1,016 |
|
|
|
1,154 |
|
Total depreciation and amortization |
|
$ |
4,050 |
|
|
$ |
4,333 |
|
|
| Summary of Property Plant and Equipment and Rental Equipment with Associated Accumulated Depreciation |
Property and equipment and rental equipment with associated accumulated depreciation is summarized below as of March 31, 2025 and December 31, 2024, respectively.
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|
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|
|
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March 31, |
|
|
December 31, |
|
Property and equipment |
|
2025 |
|
|
2024 |
|
Rental equipment, net of allowances of $3,805 and $3,744, respectively |
|
$ |
62,019 |
|
|
$ |
64,012 |
|
Other property and equipment |
|
|
24,837 |
|
|
|
25,123 |
|
Property and equipment |
|
|
86,856 |
|
|
|
89,135 |
|
|
|
|
|
|
|
|
Accumulated depreciation |
|
|
|
|
|
|
Rental equipment |
|
|
32,400 |
|
|
|
32,294 |
|
Other property and equipment |
|
|
13,357 |
|
|
|
12,441 |
|
Accumulated depreciation |
|
|
45,757 |
|
|
|
44,735 |
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
|
|
|
|
Rental equipment, net of allowances of $3,805 and $3,744, respectively |
|
|
29,619 |
|
|
|
31,718 |
|
Other property and equipment |
|
|
11,480 |
|
|
|
12,682 |
|
Property and equipment, net |
|
$ |
41,099 |
|
|
$ |
44,400 |
|
|
| Schedule of Changes in Carrying Amount of Goodwill |
The changes in the carrying amount of goodwill for the three months ended March 31, 2025 were as follows:
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|
|
|
|
Balance as of December 31, 2024 (1) |
|
$ |
9,465 |
|
Translation adjustment |
|
|
395 |
|
Balance as of March 31, 2025 (1) |
|
$ |
9,860 |
|
(1) Includes $32,894 of accumulated impairment losses as of March 31, 2025 and December 31, 2024.
|
| Summary of Changes in Net Carrying Values of Intangibles |
Intangible assets as of March 31, 2025 and December 31, 2024 consisted of the following:
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Average |
|
|
|
|
|
|
|
|
|
|
|
estimated |
|
Gross |
|
|
|
|
|
|
|
|
|
useful lives |
|
carrying |
|
|
Accumulated |
|
|
|
|
March 31, 2025 |
|
(in years) |
|
amount |
|
|
amortization |
|
|
Net amount |
|
Developed technology |
|
10 |
|
$ |
32,651 |
|
|
$ |
5,034 |
|
|
$ |
27,617 |
|
Licenses |
|
10 |
|
|
159 |
|
|
|
159 |
|
|
|
— |
|
Patents and websites |
|
5 |
|
|
3,776 |
|
|
|
3,765 |
|
|
|
11 |
|
Customer relationships |
|
4-10 |
|
|
2,915 |
|
|
|
1,547 |
|
|
|
1,368 |
|
Trade name |
|
4 |
|
|
202 |
|
|
|
78 |
|
|
|
124 |
|
Commercials |
|
3 |
|
|
494 |
|
|
|
323 |
|
|
|
171 |
|
Internally developed software |
|
3 |
|
|
3,175 |
|
|
|
859 |
|
|
|
2,316 |
|
Total |
|
|
|
$ |
43,372 |
|
|
$ |
11,765 |
|
|
$ |
31,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Average |
|
|
|
|
|
|
|
|
|
|
|
estimated |
|
Gross |
|
|
|
|
|
|
|
|
|
useful lives |
|
carrying |
|
|
Accumulated |
|
|
|
|
December 31, 2024 |
|
(in years) |
|
amount |
|
|
amortization |
|
|
Net amount |
|
Developed technology |
|
10 |
|
$ |
31,342 |
|
|
$ |
4,048 |
|
|
$ |
27,294 |
|
Licenses |
|
10 |
|
|
159 |
|
|
|
159 |
|
|
|
— |
|
Patents and websites |
|
5 |
|
|
3,776 |
|
|
|
3,752 |
|
|
|
24 |
|
Customer relationships |
|
4-10 |
|
|
2,799 |
|
|
|
1,447 |
|
|
|
1,352 |
|
Trade name |
|
4 |
|
|
194 |
|
|
|
63 |
|
|
|
131 |
|
Commercials |
|
3 |
|
|
494 |
|
|
|
282 |
|
|
|
212 |
|
Internally developed software |
|
3 |
|
|
2,090 |
|
|
|
610 |
|
|
|
1,480 |
|
Total |
|
|
|
$ |
40,854 |
|
|
$ |
10,361 |
|
|
$ |
30,493 |
|
|
| Schedule of Annual Estimated Amortization Expense |
Annual estimated amortization expense for each of the succeeding fiscal years is as follows:
|
|
|
|
|
|
|
March 31, |
|
|
|
2025 |
|
Remaining 9 months of 2025 |
|
$ |
3,532 |
|
2026 |
|
|
4,588 |
|
2027 |
|
|
3,911 |
|
2028 |
|
|
3,442 |
|
2029 |
|
|
3,427 |
|
2030 |
|
|
3,427 |
|
Thereafter |
|
|
9,280 |
|
Total |
|
$ |
31,607 |
|
|
| Schedule of Accounts Payable and Accrued Expenses |
Accounts payable and accrued expenses as of March 31, 2025 and December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Accounts payable |
|
$ |
23,257 |
|
|
$ |
16,616 |
|
Accrued inventory (in-transit and unvouchered receipts) and trade payables |
|
|
7,531 |
|
|
|
6,917 |
|
Accrued loss on purchase commitments |
|
|
701 |
|
|
|
672 |
|
Forward contract payable |
|
|
1,888 |
|
|
|
— |
|
Other accrued expenses |
|
|
2,548 |
|
|
|
2,948 |
|
Total accounts payable and accrued expenses |
|
$ |
35,925 |
|
|
$ |
27,153 |
|
|
| Schedule of Accrued Payroll |
Accrued payroll as of March 31, 2025 and December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Accrued bonuses |
|
$ |
1,968 |
|
|
$ |
6,370 |
|
Accrued wages and other payroll related items |
|
|
3,469 |
|
|
|
5,570 |
|
Accrued vacation |
|
|
3,981 |
|
|
|
3,456 |
|
Accrued severance |
|
|
926 |
|
|
|
1,429 |
|
Accrued employee stock purchase plan deductions |
|
|
169 |
|
|
|
364 |
|
Total accrued payroll |
|
$ |
10,513 |
|
|
$ |
17,189 |
|
|