Quarterly report pursuant to Section 13 or 15(d)

Revenue

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Revenue
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table presents the Company’s disaggregated revenue by offering type (in thousands):
  Three Months Ended
March 31,
  2024 2023
 
Total Net
Revenues
Percentage of
Total Net
Revenues
Total Net
Revenues
Percentage of
Total Net
Revenues
Patient Services revenue recognized at a point in time:
Direct products $ 615  1.9  % $ 579  1.9  %
Third-Party Payer products 1,872  5.9  % 3,408  11.2  %
Patient Services revenue recognized over time:
Direct rental services 3,572  11.2  % 1,869  6.2  %
Third-Party Payer rental services 10,977  34.3  % 11,020  36.3  %
Total Patient Services accounted for under ASC 606 17,036  53.2  % 16,876  55.6  %
Device Solutions revenue recognized at a point in time:
Products 4,213  13.2  % 3,740  12.3  %
Services
 2,409  7.5  % 2,576  8.5  %
Device Solutions revenue recognized over time:
Services
 1,969  6.2  % 774  2.5  %
Total Device Solutions accounted for under ASC 606 8,591  26.9  % 7,090  23.3  %
Total Revenue Accounted for under ASC 606 25,627  80.1  % 23,966  78.9  %
Patient Services lease revenue
 1,555  4.9  % 1,897  6.2  %
Device Solutions lease revenue
 4,813  15.0  % 4,507  14.8  %
Total Revenue accounted for under ASC 842, Leases 6,368  19.9  % 6,404  21.1  %
Total Net Revenue $ 31,995  100.0  % $ 30,370 100.0  %
Contract Balances
(dollars in thousands)
As of March 31, 2024
As of December 31, 2023
 $ Change
Accounts receivable, net $ 20,543  $ 19,830  $ 713 
Contract assets $ 1,332  $ 1,271  $ 61 
The change in contract assets during the three months ended March 31, 2024 was mainly due to $2.9 million of revenue recognized for which the payment is subject to conditions other than the passage of time, partially offset by $2.8 million of contract assets reclassified to accounts receivable as our right to consideration for these contract assets became unconditional. Contract assets are included in other current assets on the Company's Condensed Consolidated Balance Sheets.