Balance Sheet Components (Tables)
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9 Months Ended |
Sep. 30, 2025 |
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| Balance Sheet Related Disclosures [Abstract] |
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| Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's consolidated balance sheet that are shown in aggregate in the accompanying consolidated statement of cash flows:
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September 30, |
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September 30, |
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December 31, |
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December 31, |
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2025 |
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2024 |
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|
2024 |
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2023 |
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Cash and cash equivalents |
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$ |
106,476 |
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$ |
105,690 |
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$ |
113,795 |
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$ |
125,492 |
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Restricted cash |
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|
1,281 |
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|
3,591 |
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|
|
3,620 |
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|
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— |
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Total cash, cash equivalents and restricted cash |
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$ |
107,757 |
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$ |
109,281 |
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$ |
117,415 |
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$ |
125,492 |
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| 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 September 30, 2025 and December 31, 2024 were as follows:
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September 30, |
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December 31, |
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Net accounts receivable |
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2025 |
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2024 |
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Rental (1) |
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$ |
5,016 |
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$ |
4,863 |
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Business-to-business and other receivables |
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|
35,358 |
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|
24,700 |
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Total net accounts receivable |
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$ |
40,374 |
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$ |
29,563 |
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(1) Rental includes Medicare, Medicaid/other government, private insurance, and patient pay.
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| Schedule of Allowances for Accounts Receivable |
The following table sets forth the accounts receivable allowances as of September 30, 2025 and December 31, 2024:
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September 30, |
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December 31, |
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Allowances - accounts receivable |
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2025 |
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|
2024 |
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Doubtful accounts |
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$ |
107 |
|
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$ |
458 |
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Sales returns |
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|
409 |
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|
|
413 |
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Total allowances - accounts receivable |
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$ |
516 |
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$ |
871 |
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| 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 79.2% and 76.3% of the non-U.S. revenue for the three months ended September 30, 2025 and 2024, respectively, were invoiced in Euros. Approximately 78.1% and 78.4% of the non-U.S. revenue for the nine months ended September 30, 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 and nine months ended September 30, 2025 and 2024, respectively, is as follows:
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Three months ended
September 30, |
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Nine months ended
September 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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U.S. revenue |
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$ |
53,987 |
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$ |
56,506 |
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$ |
160,636 |
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$ |
166,730 |
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Non-U.S. revenue |
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38,403 |
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32,328 |
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106,311 |
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|
88,894 |
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Total revenue |
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$ |
92,390 |
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$ |
88,834 |
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$ |
266,947 |
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$ |
255,624 |
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| Schedule of Inventories |
Inventories that are considered current consist of the following:
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September 30, |
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December 31, |
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2025 |
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2024 |
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Raw materials and work-in-progress |
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$ |
15,367 |
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$ |
19,224 |
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Finished goods |
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|
11,085 |
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|
7,633 |
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Less: reserves |
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(1,377 |
) |
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(2,045 |
) |
Inventories, net |
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$ |
25,075 |
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$ |
24,812 |
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| 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 and nine months ended September 30, 2025 and 2024, respectively.
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Three months ended
September 30, |
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Nine months ended
September 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Rental equipment |
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$ |
2,964 |
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$ |
3,247 |
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$ |
9,015 |
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$ |
9,554 |
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Other property and equipment |
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|
970 |
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|
960 |
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2,976 |
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3,143 |
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Total depreciation and amortization |
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$ |
3,934 |
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$ |
4,207 |
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$ |
11,991 |
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$ |
12,697 |
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| 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 September 30, 2025 and December 31, 2024, respectively.
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September 30, |
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December 31, |
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Property and equipment |
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2025 |
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2024 |
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Rental equipment, net of allowances of $3,514 and $3,744, respectively |
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$ |
60,504 |
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$ |
64,012 |
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Other property and equipment |
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|
24,860 |
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|
25,123 |
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Property and equipment |
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85,364 |
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|
89,135 |
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Accumulated depreciation |
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Rental equipment |
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32,965 |
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32,294 |
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Other property and equipment |
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15,068 |
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|
12,441 |
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Accumulated depreciation |
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48,033 |
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44,735 |
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Property and equipment, net |
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Rental equipment, net of allowances of $3,514 and $3,744, respectively |
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27,539 |
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31,718 |
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Other property and equipment |
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9,792 |
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|
12,682 |
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Property and equipment, net |
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$ |
37,331 |
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$ |
44,400 |
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| Schedule of Changes in Carrying Amount of Goodwill |
The changes in the carrying amount of goodwill for the nine months ended September 30, 2025 were as follows:
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Balance as of December 31, 2024 (1) |
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$ |
9,465 |
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Translation adjustment |
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|
1,230 |
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Balance as of September 30, 2025 (1) |
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$ |
10,695 |
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(1) Includes $32,894 of accumulated impairment losses as of September 30, 2025 and December 31, 2024.
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| Summary of Changes in Net Carrying Values of Intangibles |
Intangible assets as of September 30, 2025 and December 31, 2024 consisted of the following:
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Average |
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estimated |
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Gross |
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useful lives |
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carrying |
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Accumulated |
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September 30, 2025 |
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(in years) |
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amount |
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amortization |
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Net amount |
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Developed technology |
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10 |
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$ |
35,414 |
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$ |
7,230 |
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$ |
28,184 |
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Licenses |
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10 |
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|
159 |
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159 |
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— |
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Patents and websites |
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5 |
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3,775 |
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3,770 |
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5 |
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Customer relationships |
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4-10 |
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3,162 |
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1,766 |
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1,396 |
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Trade name |
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4 |
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|
219 |
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112 |
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|
107 |
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Commercials |
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3 |
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|
494 |
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|
405 |
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|
89 |
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Internally developed software |
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3 |
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3,707 |
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1,439 |
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|
2,268 |
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Total |
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$ |
46,930 |
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$ |
14,881 |
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$ |
32,049 |
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Average |
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estimated |
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Gross |
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useful lives |
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carrying |
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Accumulated |
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December 31, 2024 |
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(in years) |
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amount |
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amortization |
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Net amount |
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Developed technology |
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10 |
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$ |
31,342 |
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$ |
4,048 |
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$ |
27,294 |
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Licenses |
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10 |
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|
159 |
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|
159 |
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— |
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Patents and websites |
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5 |
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3,776 |
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3,752 |
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24 |
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Customer relationships |
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4-10 |
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2,799 |
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1,447 |
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|
1,352 |
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Trade name |
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4 |
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|
194 |
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|
63 |
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|
131 |
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Commercials |
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3 |
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|
494 |
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|
282 |
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|
212 |
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Internally developed software |
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3 |
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2,090 |
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|
610 |
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|
1,480 |
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Total |
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$ |
40,854 |
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$ |
10,361 |
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$ |
30,493 |
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| Schedule of Annual Estimated Amortization Expense |
Annual estimated amortization expense for each of the succeeding fiscal years is as follows:
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September 30, |
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|
2025 |
|
Remaining 3 months of 2025 |
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$ |
2,589 |
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2026 |
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|
4,930 |
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2027 |
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|
4,205 |
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2028 |
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|
3,754 |
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2029 |
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|
3,717 |
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2030 |
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|
3,440 |
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Thereafter |
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|
9,414 |
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Total |
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$ |
32,049 |
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| Schedule of Accounts Payable and Accrued Expenses |
Accounts payable and accrued expenses as of September 30, 2025 and December 31, 2024 consisted of the following:
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September 30, |
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December 31, |
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2025 |
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2024 |
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Accounts payable |
|
$ |
21,216 |
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$ |
16,616 |
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Accrued inventory (in-transit and unvouchered receipts) and trade payables |
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|
8,954 |
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|
6,917 |
|
Accrued loss on purchase commitments |
|
|
762 |
|
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|
672 |
|
Forward contract payable |
|
|
1,062 |
|
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|
— |
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Other accrued expenses |
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|
2,213 |
|
|
|
2,948 |
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Total accounts payable and accrued expenses |
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$ |
34,207 |
|
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$ |
27,153 |
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| Schedule of Accrued Payroll |
Accrued payroll as of September 30, 2025 and December 31, 2024 consisted of the following:
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September 30, |
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December 31, |
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|
2025 |
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2024 |
|
Accrued bonuses |
|
$ |
4,271 |
|
|
$ |
6,370 |
|
Accrued wages and other payroll related items |
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|
3,055 |
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|
5,570 |
|
Accrued vacation |
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|
4,079 |
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|
3,456 |
|
Accrued severance |
|
|
391 |
|
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|
1,429 |
|
Accrued employee stock purchase plan deductions |
|
|
64 |
|
|
|
364 |
|
Total accrued payroll |
|
$ |
11,860 |
|
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$ |
17,189 |
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