Balance Sheet Components (Tables)
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6 Months Ended |
Jun. 30, 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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June 30, |
|
|
June 30, |
|
|
|
2026 |
|
|
2025 |
|
Cash and cash equivalents |
|
$ |
87,276 |
|
|
$ |
103,685 |
|
Restricted cash |
|
|
1,303 |
|
|
|
1,272 |
|
Total cash, cash equivalents, and restricted cash |
|
$ |
88,579 |
|
|
$ |
104,957 |
|
|
| 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 June 30, 2026 and December 31, 2025 were as follows:
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|
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|
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|
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June 30, |
|
|
December 31, |
|
Net accounts receivable |
|
2026 |
|
|
2025 |
|
Rental (1) |
|
$ |
5,044 |
|
|
$ |
4,725 |
|
Business-to-business and other receivables |
|
|
41,113 |
|
|
|
34,138 |
|
Total net accounts receivable |
|
$ |
46,157 |
|
|
$ |
38,863 |
|
(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 June 30, 2026 and December 31, 2025:
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June 30, |
|
|
December 31, |
|
Allowances - accounts receivable |
|
2026 |
|
|
2025 |
|
Credit losses |
|
$ |
321 |
|
|
$ |
60 |
|
Sales returns |
|
|
473 |
|
|
|
418 |
|
Total allowances - accounts receivable |
|
$ |
794 |
|
|
$ |
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 79.5% and 76.0% of international revenue for the three months ended June 30, 2026 and 2025, respectively, were invoiced in Euros. Approximately 80.6% and 77.4% of international revenue for the six months ended June 30, 2026 and 2025, respectively, were invoiced in Euros. A breakdown of the Company’s revenue from U.S. and international sources for the three and six months ended June 30, 2026 and 2025, respectively, is as follows:
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Three months ended
June 30, |
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|
Six months ended
June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
U.S. revenue |
|
$ |
53,831 |
|
|
$ |
56,354 |
|
|
$ |
101,272 |
|
|
$ |
106,649 |
|
International revenue |
|
|
41,253 |
|
|
|
35,923 |
|
|
|
78,921 |
|
|
|
67,908 |
|
Total revenue |
|
$ |
95,084 |
|
|
$ |
92,277 |
|
|
$ |
180,193 |
|
|
$ |
174,557 |
|
|
| Schedule of Inventories |
Inventories that are considered current consist of the following:
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June 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Raw materials and work-in-progress |
|
$ |
16,174 |
|
|
$ |
14,945 |
|
Finished goods |
|
|
12,459 |
|
|
|
11,024 |
|
Inventories |
|
$ |
28,633 |
|
|
$ |
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 and six months ended June 30, 2026 and 2025, respectively.
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|
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Three months ended
June 30, |
|
|
Six months ended
June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Rental equipment |
|
$ |
2,475 |
|
|
$ |
3,017 |
|
|
$ |
5,103 |
|
|
$ |
6,051 |
|
Other property and equipment |
|
|
970 |
|
|
|
990 |
|
|
|
1,950 |
|
|
|
2,006 |
|
Total depreciation and amortization |
|
$ |
3,445 |
|
|
$ |
4,007 |
|
|
$ |
7,053 |
|
|
$ |
8,057 |
|
|
| 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 June 30, 2026 and December 31, 2025, respectively.
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|
|
|
|
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|
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June 30, |
|
|
December 31, |
|
Property and equipment |
|
2026 |
|
|
2025 |
|
Rental equipment |
|
$ |
54,685 |
|
|
$ |
59,400 |
|
Other property and equipment |
|
|
26,534 |
|
|
|
25,926 |
|
Property and equipment |
|
|
81,219 |
|
|
|
85,326 |
|
|
|
|
|
|
|
|
Accumulated depreciation |
|
|
|
|
|
|
Rental equipment |
|
|
32,026 |
|
|
|
33,101 |
|
Other property and equipment |
|
|
17,412 |
|
|
|
15,863 |
|
Accumulated depreciation |
|
|
49,438 |
|
|
|
48,964 |
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
|
|
|
|
Rental equipment |
|
|
22,659 |
|
|
|
26,299 |
|
Other property and equipment |
|
|
9,122 |
|
|
|
10,063 |
|
Property and equipment, net |
|
$ |
31,781 |
|
|
$ |
36,362 |
|
|
| Schedule of Changes in Carrying Amount of Goodwill |
The changes in the carrying amount of goodwill for the six months ended June 30, 2026 were as follows:
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|
|
|
Balance as of December 31, 2025 (1) |
|
$ |
10,698 |
|
Translation adjustment |
|
|
(303 |
) |
Balance as of June 30, 2026 (1) |
|
$ |
10,395 |
|
(1) Includes $32,894 of accumulated impairment losses as of June 30, 2026 and December 31, 2025.
|
| Summary of Changes in Net Carrying Values of Intangibles |
Intangible assets as of June 30, 2026 and December 31, 2025 consisted of the following:
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Average |
|
|
|
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|
|
|
|
|
|
|
estimated |
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Gross |
|
|
|
|
|
|
|
|
|
useful lives |
|
carrying |
|
|
Accumulated |
|
|
|
|
June 30, 2026 |
|
(in years) |
|
amount |
|
|
amortization |
|
|
Net amount |
|
Developed technology |
|
10 |
|
$ |
34,421 |
|
|
$ |
9,609 |
|
|
$ |
24,812 |
|
Licenses |
|
10 |
|
|
159 |
|
|
|
159 |
|
|
|
— |
|
Patents and websites |
|
5 |
|
|
3,775 |
|
|
|
3,774 |
|
|
|
1 |
|
Customer relationships |
|
4-10 |
|
|
3,075 |
|
|
|
1,845 |
|
|
|
1,230 |
|
Trade name |
|
4 |
|
|
213 |
|
|
|
149 |
|
|
|
64 |
|
Commercials |
|
3 |
|
|
494 |
|
|
|
494 |
|
|
|
- |
|
Internally developed software |
|
3 |
|
|
3,707 |
|
|
|
2,367 |
|
|
|
1,340 |
|
Total |
|
|
|
$ |
45,844 |
|
|
$ |
18,397 |
|
|
$ |
27,447 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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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:
|
|
|
|
|
|
|
June 30, |
|
|
|
2026 |
|
Remaining 6 months of 2026 |
|
$ |
2,452 |
|
2027 |
|
|
4,276 |
|
2028 |
|
|
3,709 |
|
2029 |
|
|
3,613 |
|
2030 |
|
|
3,480 |
|
Thereafter |
|
|
9,917 |
|
Total |
|
$ |
27,447 |
|
|
| Schedule of Accounts Payable and Accrued Expenses |
Accounts payable and accrued expenses as of June 30, 2026 and December 31, 2025 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Accounts payable |
|
$ |
25,252 |
|
|
$ |
20,264 |
|
Accrued inventory (in-transit and unvouchered receipts) and trade payables |
|
|
12,872 |
|
|
|
9,177 |
|
Accrued loss on purchase commitments |
|
|
139 |
|
|
|
427 |
|
Forward contract payable |
|
|
— |
|
|
|
373 |
|
Other accrued expenses |
|
|
1,415 |
|
|
|
3,700 |
|
Total accounts payable and accrued expenses |
|
$ |
39,678 |
|
|
$ |
33,941 |
|
|
| Schedule of Accrued Payroll |
Accrued payroll as of June 30, 2026 and December 31, 2025 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Accrued bonuses |
|
$ |
3,017 |
|
|
$ |
3,899 |
|
Accrued wages and payroll taxes |
|
|
5,031 |
|
|
|
2,783 |
|
Accrued vacation |
|
|
4,106 |
|
|
|
3,480 |
|
Other accrued payroll expenses |
|
|
642 |
|
|
|
467 |
|
Total accrued payroll |
|
$ |
12,796 |
|
|
$ |
10,629 |
|
|