Balance Sheet Components (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Balance Sheet Related Disclosures [Abstract] |
|
| 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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|
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|
|
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March 31, |
|
|
March 31, |
|
|
|
2026 |
|
|
2025 |
|
Cash and cash equivalents |
|
$ |
93,112 |
|
|
$ |
118,893 |
|
Restricted cash |
|
|
1,296 |
|
|
|
3,646 |
|
Total cash, cash equivalents and restricted cash |
|
$ |
94,408 |
|
|
$ |
122,539 |
|
|
| 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, 2026 and December 31, 2025 were as follows:
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March 31, |
|
|
December 31, |
|
Net accounts receivable |
|
2026 |
|
|
2025 |
|
Rental (1) |
|
$ |
5,476 |
|
|
$ |
4,725 |
|
Business-to-business and other receivables |
|
|
36,398 |
|
|
|
34,138 |
|
Total net accounts receivable |
|
$ |
41,874 |
|
|
$ |
38,863 |
|
(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, 2026 and December 31, 2025:
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March 31, |
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|
December 31, |
|
Allowances - accounts receivable |
|
2026 |
|
|
2025 |
|
Credit losses |
|
$ |
212 |
|
|
$ |
60 |
|
Sales returns |
|
|
455 |
|
|
|
418 |
|
Total allowances - accounts receivable |
|
$ |
667 |
|
|
$ |
478 |
|
|
| 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 81.7% and 78.9% of the international revenue for the three months ended March 31, 2026 and 2025, respectively, were invoiced in Euros. A breakdown of the Company’s revenue from U.S. and international sources for the three months ended March 31, 2026 and 2025, respectively, is as follows:
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Three months ended
March 31, |
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|
|
2026 |
|
|
2025 |
|
U.S. revenue |
|
$ |
47,441 |
|
|
$ |
50,295 |
|
International revenue |
|
|
37,668 |
|
|
|
31,985 |
|
Total revenue |
|
$ |
85,109 |
|
|
$ |
82,280 |
|
|
| Schedule of Inventories |
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|
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|
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March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Raw materials and work-in-progress |
|
$ |
13,872 |
|
|
$ |
14,945 |
|
Finished goods |
|
|
11,120 |
|
|
|
11,024 |
|
Inventories |
|
$ |
24,992 |
|
|
$ |
25,969 |
|
|
| 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, 2026 and 2025, respectively.
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|
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Three months ended
March 31, |
|
|
|
2026 |
|
|
2025 |
|
Rental equipment |
|
$ |
2,628 |
|
|
$ |
3,034 |
|
Other property and equipment |
|
|
980 |
|
|
|
1,016 |
|
Total depreciation and amortization |
|
$ |
3,608 |
|
|
$ |
4,050 |
|
|
| 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, 2026 and December 31, 2025, respectively.
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March 31, |
|
|
December 31, |
|
Property and equipment |
|
2026 |
|
|
2025 |
|
Rental equipment |
|
$ |
57,009 |
|
|
$ |
59,400 |
|
Other property and equipment |
|
|
26,189 |
|
|
|
25,926 |
|
Property and equipment |
|
|
83,198 |
|
|
|
85,326 |
|
|
|
|
|
|
|
|
Accumulated depreciation |
|
|
|
|
|
|
Rental equipment |
|
|
32,757 |
|
|
|
33,101 |
|
Other property and equipment |
|
|
16,755 |
|
|
|
15,863 |
|
Accumulated depreciation |
|
|
49,512 |
|
|
|
48,964 |
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
|
|
|
|
Rental equipment |
|
|
24,252 |
|
|
|
26,299 |
|
Other property and equipment |
|
|
9,434 |
|
|
|
10,063 |
|
Property and equipment, net |
|
$ |
33,686 |
|
|
$ |
36,362 |
|
|
| Schedule of Changes in Carrying Amount of Goodwill |
The changes in the carrying amount of goodwill for the three months ended March 31, 2026 were as follows:
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|
|
|
|
Balance as of December 31, 2025 (1) |
|
$ |
10,698 |
|
Translation adjustment |
|
|
(215 |
) |
Balance as of March 31, 2026 (1) |
|
$ |
10,483 |
|
(1) Includes $32,894 of accumulated impairment losses as of March 31, 2026 and December 31, 2025.
|
| Summary of Changes in Net Carrying Values of Intangibles |
Intangible assets as of March 31, 2026 and December 31, 2025 consisted of the following:
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Average |
|
|
|
|
|
|
|
|
|
|
|
estimated |
|
Gross |
|
|
|
|
|
|
|
|
|
useful lives |
|
carrying |
|
|
Accumulated |
|
|
|
|
March 31, 2026 |
|
(in years) |
|
amount |
|
|
amortization |
|
|
Net amount |
|
Developed technology |
|
10 |
|
$ |
34,713 |
|
|
$ |
8,823 |
|
|
$ |
25,890 |
|
Licenses |
|
10 |
|
|
159 |
|
|
|
159 |
|
|
|
— |
|
Patents and websites |
|
5 |
|
|
3,776 |
|
|
|
3,773 |
|
|
|
3 |
|
Customer relationships |
|
4-10 |
|
|
3,100 |
|
|
|
1,817 |
|
|
|
1,283 |
|
Trade name |
|
4 |
|
|
215 |
|
|
|
137 |
|
|
|
78 |
|
Commercials |
|
3 |
|
|
494 |
|
|
|
487 |
|
|
|
7 |
|
Internally developed software |
|
3 |
|
|
3,707 |
|
|
|
2,058 |
|
|
|
1,649 |
|
Total |
|
|
|
$ |
46,164 |
|
|
$ |
17,254 |
|
|
$ |
28,910 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
Average |
|
|
|
|
|
|
|
|
|
|
|
estimated |
|
Gross |
|
|
|
|
|
|
|
|
|
useful lives |
|
carrying |
|
|
Accumulated |
|
|
|
|
December 31, 2025 |
|
(in years) |
|
amount |
|
|
amortization |
|
|
Net amount |
|
Developed technology |
|
10 |
|
$ |
35,424 |
|
|
$ |
8,118 |
|
|
$ |
27,306 |
|
Licenses |
|
10 |
|
|
159 |
|
|
|
159 |
|
|
|
— |
|
Patents and websites |
|
5 |
|
|
3,775 |
|
|
|
3,771 |
|
|
|
4 |
|
Customer relationships |
|
4-10 |
|
|
3,165 |
|
|
|
1,811 |
|
|
|
1,354 |
|
Trade name |
|
4 |
|
|
219 |
|
|
|
126 |
|
|
|
93 |
|
Commercials |
|
3 |
|
|
494 |
|
|
|
446 |
|
|
|
48 |
|
Internally developed software |
|
3 |
|
|
3,707 |
|
|
|
1,749 |
|
|
|
1,958 |
|
Total |
|
|
|
$ |
46,943 |
|
|
$ |
16,180 |
|
|
$ |
30,763 |
|
|
| Schedule of Annual Estimated Amortization Expense |
Annual estimated amortization expense for each of the succeeding fiscal years is as follows:
|
|
|
|
|
|
|
March 31, |
|
|
|
2026 |
|
Remaining 9 months of 2026 |
|
$ |
3,709 |
|
2027 |
|
|
4,307 |
|
2028 |
|
|
3,740 |
|
2029 |
|
|
3,643 |
|
2030 |
|
|
3,489 |
|
Thereafter |
|
|
10,022 |
|
Total |
|
$ |
28,910 |
|
|
| Schedule of Accounts Payable and Accrued Expenses |
Accounts payable and accrued expenses as of March 31, 2026 and December 31, 2025 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Accounts payable |
|
$ |
24,088 |
|
|
$ |
20,264 |
|
Accrued inventory (in-transit and unvouchered receipts) and trade payables |
|
|
7,208 |
|
|
|
9,177 |
|
Accrued loss on purchase commitments |
|
|
108 |
|
|
|
427 |
|
Forward contract payable |
|
|
— |
|
|
|
373 |
|
Other accrued expenses |
|
|
1,291 |
|
|
|
3,700 |
|
Total accounts payable and accrued expenses |
|
$ |
32,695 |
|
|
$ |
33,941 |
|
|
| Schedule of Accrued Payroll |
Accrued payroll as of March 31, 2026 and December 31, 2025 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Accrued bonuses |
|
$ |
2,109 |
|
|
$ |
3,899 |
|
Accrued wages and payroll taxes |
|
|
3,981 |
|
|
|
2,783 |
|
Accrued vacation |
|
|
3,995 |
|
|
|
3,480 |
|
Other accrued payroll expenses |
|
|
107 |
|
|
|
467 |
|
Total accrued payroll |
|
$ |
10,192 |
|
|
$ |
10,629 |
|
|