Quarterly report [Sections 13 or 15(d)]

Revenue

v3.25.3
Revenue
 9 Months Ended
Sep. 30, 2025
Revenue Recognition [Abstract]  
Revenue Revenue
The following table presents the Company’s disaggregated revenue by offering type (in thousands):
  Three Months Ended
September 30,
  2025 2024
 
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 $ 690  1.9  % $ 685  1.9  %
Third-Party Payer products 4,822  13.2  % 3,917  11.1  %
Patient Services revenue recognized over time:
Direct rental services 1,985  5.4  % 1,923  5.4  %
Third-Party Payer rental services 12,723  34.9  % 12,277  34.8  %
Total Patient Services accounted for under ASC 606 20,220  55.4  % 18,802  53.2  %
Device Solutions revenue recognized at a point in time:
Products 4,100  11.2  % 4,731  13.4  %
Services
 3,379  9.3  % 2,575  7.3  %
Device Solutions revenue recognized over time:
Services
 1,263  3.5  % 1,841  5.2  %
Total Device Solutions accounted for under ASC 606 8,742  24.0  % 9,147  25.9  %
Total Revenue Accounted for under ASC 606 28,962  79.4  % 27,949  79.1  %
Patient Services lease revenue
 2,144  5.9  % 1,978  5.6  %
Device Solutions lease revenue
 5,382  14.8  % 5,393  15.3  %
Total Revenue accounted for under ASC 842, Leases 7,526  20.6  % 7,371  20.9  %
Total Net Revenue $ 36,488  100.0  % $ 35,320 100.0  %
  Nine Months Ended
September 30,
  2025 2024
 
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 $ 1,979  1.8  % $ 2,030  2.0  %
Third-Party Payer products 12,880  12.0  % 11,182  11.1  %
Patient Services revenue recognized over time:
Direct rental services 5,834  5.4  % 5,724  5.7  %
Third-Party Payer rental services 37,522  35.0  % 35,144  34.8  %
Total Patient Services accounted for under ASC 606 58,215  54.3  % 54,080  53.5  %
Device Solutions revenue recognized at a point in time:
Products 12,567  11.7  % 12,886  12.8  %
Services 8,463  7.9  % 7,442  7.4  %
Device Solutions revenue recognized over time:
Services 4,866  4.5  % 5,850  5.8  %
Total Device Solutions accounted for under ASC 606 25,896  24.2  % 26,178  25.9  %
Total Revenue Accounted for under ASC 606 84,111  78.5  % 80,258  79.5  %
Patient Services Lease Revenue 6,438  6.0  % 5,537  5.5  %
Device Solutions Lease Revenue 16,657  15.5  % 15,218  15.1  %
Total Revenue accounted for under ASC 842, Leases 23,095  21.5  % 20,755  20.5  %
Total Net Revenue $ 107,206  100.0  % $ 101,013 100.0  %

Contract Balances
(dollars in thousands)
As of September 30, 2025
As of December 31, 2024
 $ Change
Accounts receivable, net $ 24,309  $ 21,155  $ 3,154 
Contract assets $ 1,625  $ 570  $ 1,055 
Contract liabilities $ 144  $ —  $ 144 
The change in contract assets during the nine months ended September 30, 2025 included $7.5 million of revenue recognized for which the payment is subject to conditions other than the passage of time, which was partially offset by $6.4 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.
The change in contract liabilities during the nine months ended September 30, 2025 was mainly due to the increase in the value of products and services billed to customers for which control of the products and services has not transferred to the customers. Contract liabilities are included in other current liabilities on the Company's condensed consolidated balance sheets.