Quarterly report [Sections 13 or 15(d)]

Revenue

v3.25.2
Revenue
 6 Months Ended
Jun. 30, 2025
Revenue Recognition [Abstract]  
Revenue Revenue
The following table presents the Company’s disaggregated revenue by offering type (in thousands):
  Three Months Ended
June 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 $ 651  1.8  % $ 730  2.2  %
Third-Party Payer products 4,108  11.4  % 3,695  11.0  %
Patient Services revenue recognized over time:
Direct rental services 1,935  5.4  % 1,928  5.7  %
Third-Party Payer rental services 12,584  35.0  % 11,889  35.3  %
Total Patient Services accounted for under ASC 606 19,278  53.5  % 18,242  54.1  %
Device Solutions revenue recognized at a point in time:
Products 4,465  12.4  % 3,943  11.7  %
Services
 2,733  7.6  % 2,457  7.3  %
Device Solutions revenue recognized over time:
Services
 1,747  4.9  % 2,040  6.1  %
Total Device Solutions accounted for under ASC 606 8,945  24.8  % 8,440  25.0  %
Total Revenue Accounted for under ASC 606 28,223  78.4  % 26,682  79.2  %
Patient Services lease revenue
 2,239  6.2  % 2,004  5.9  %
Device Solutions lease revenue
 5,540  15.4  % 5,012  14.9  %
Total Revenue accounted for under ASC 842, Leases 7,779  21.6  % 7,016  20.8  %
Total Net Revenue $ 36,002  100.0  % $ 33,698 100.0  %
  Six Months Ended
June 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 $ 1,290  1.8  % $ 1,345  2.0  %
Third-Party Payer products 8,058  11.4  % 7,267  11.1  %
Patient Services revenue recognized over time:
Direct rental services 3,849  5.4  % 3,800  5.8  %
Third-Party Payer rental services 24,800  35.1  % 22,866  34.8  %
Total Patient Services accounted for under ASC 606 37,997  53.7  % 35,278  53.7  %
Device Solutions revenue recognized at a point in time:
Products 8,466  12.0  % 8,155  12.4  %
Services 5,083  7.2  % 4,867  7.4  %
Device Solutions revenue recognized over time:
Services 3,603  5.1  % 4,009  6.1  %
Total Device Solutions accounted for under ASC 606 17,152  24.3  % 17,031  25.9  %
Total Revenue Accounted for under ASC 606 55,149  78.0  % 52,309  79.6  %
Patient Services Lease Revenue 4,295  6.1  % 3,559  5.4  %
Device Solutions Lease Revenue 11,274  15.9  % 9,825  15.0  %
Total Revenue accounted for under ASC 842, Leases 15,569  22.0  % 13,384  20.4  %
Total Net Revenue $ 70,718  100.0  % $ 65,693 100.0  %

Contract Balances
(dollars in thousands)
As of June 30, 2025
As of December 31, 2024
 $ Change
Accounts receivable, net $ 24,481  $ 21,155  $ 3,326 
Contract assets $ 759  $ 570  $ 189 
Contract liabilities $ 88  $ —  $ 88 
The change in contract assets during the six months ended June 30, 2025 included $4.8 million of revenue recognized for which the payment is subject to conditions other than the passage of time, which was partially offset by $4.6 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 six months ended June 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.