Balance Sheet Components (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Balance Sheet Related Disclosures [Abstract] |
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| 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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June 30, |
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June 30, |
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December 31, |
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December 31, |
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2025 |
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2024 |
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|
2024 |
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2023 |
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Cash and cash equivalents |
|
$ |
103,685 |
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|
$ |
97,920 |
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$ |
113,795 |
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$ |
125,492 |
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Restricted cash |
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|
1,272 |
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|
3,559 |
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|
3,620 |
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|
|
— |
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Total cash, cash equivalents and restricted cash |
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$ |
104,957 |
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$ |
101,479 |
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$ |
117,415 |
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$ |
125,492 |
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| 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, 2025 and December 31, 2024 were as follows:
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June 30, |
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December 31, |
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Net accounts receivable |
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2025 |
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2024 |
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Rental (1) |
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$ |
5,462 |
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$ |
4,863 |
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Business-to-business and other receivables |
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|
33,130 |
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|
|
24,700 |
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Total net accounts receivable |
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$ |
38,592 |
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|
$ |
29,563 |
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(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, 2025 and December 31, 2024:
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June 30, |
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December 31, |
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Allowances - accounts receivable |
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2025 |
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|
2024 |
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Doubtful accounts |
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$ |
86 |
|
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$ |
458 |
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Sales returns |
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|
555 |
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|
|
413 |
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Total allowances - accounts receivable |
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$ |
641 |
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$ |
871 |
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| 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 76.0% and 79.4% of the non-U.S. revenue for the three months ended June 30, 2025 and 2024, respectively, were invoiced in Euros. Approximately 77.4% and 79.6% of the non-U.S. revenue for the six months ended June 30, 2025 and 2024, respectively, were invoiced in Euros. A breakdown of the Company’s revenue from U.S. and non-U.S. sources for the three and six months ended June 30, 2025 and 2024, respectively, is as follows:
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Three months ended
June 30, |
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Six months ended
June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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U.S. revenue |
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$ |
56,354 |
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$ |
58,234 |
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$ |
106,649 |
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$ |
110,224 |
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Non-U.S. revenue |
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35,923 |
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30,531 |
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67,908 |
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56,566 |
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Total revenue |
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$ |
92,277 |
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$ |
88,765 |
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$ |
174,557 |
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$ |
166,790 |
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| Schedule of Inventories |
Inventories that are considered current consist of the following:
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June 30, |
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December 31, |
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2025 |
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2024 |
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Raw materials and work-in-progress |
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$ |
14,962 |
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$ |
19,224 |
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Finished goods |
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|
11,599 |
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|
7,633 |
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Less: reserves |
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(2,248 |
) |
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(2,045 |
) |
Inventories, net |
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$ |
24,313 |
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$ |
24,812 |
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| 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, 2025 and 2024, respectively.
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Three months ended
June 30, |
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Six months ended
June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Rental equipment |
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$ |
3,017 |
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$ |
3,128 |
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$ |
6,051 |
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$ |
6,307 |
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Other property and equipment |
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|
990 |
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|
1,029 |
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|
2,006 |
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|
2,183 |
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Total depreciation and amortization |
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$ |
4,007 |
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$ |
4,157 |
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$ |
8,057 |
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$ |
8,490 |
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| 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, 2025 and December 31, 2024, respectively.
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June 30, |
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December 31, |
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Property and equipment |
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2025 |
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2024 |
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Rental equipment, net of allowances of $3,614 and $3,744, respectively |
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$ |
62,559 |
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$ |
64,012 |
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Other property and equipment |
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|
24,741 |
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|
25,123 |
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Property and equipment |
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|
87,300 |
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|
89,135 |
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Accumulated depreciation |
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Rental equipment |
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32,823 |
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|
32,294 |
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Other property and equipment |
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|
14,306 |
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|
12,441 |
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Accumulated depreciation |
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47,129 |
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|
44,735 |
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Property and equipment, net |
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Rental equipment, net of allowances of $3,614 and $3,744, respectively |
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29,736 |
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31,718 |
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Other property and equipment |
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|
10,435 |
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|
12,682 |
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Property and equipment, net |
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$ |
40,171 |
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$ |
44,400 |
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| Schedule of Changes in Carrying Amount of Goodwill |
The changes in the carrying amount of goodwill for the six months ended June 30, 2025 were as follows:
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Balance as of December 31, 2024 (1) |
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$ |
9,465 |
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Translation adjustment |
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|
1,235 |
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Balance as of June 30, 2025 (1) |
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$ |
10,700 |
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(1) Includes $32,894 of accumulated impairment losses as of June 30, 2025 and December 31, 2024.
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| Summary of Changes in Net Carrying Values of Intangibles |
Intangible assets as of June 30, 2025 and December 31, 2024 consisted of the following:
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Average |
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estimated |
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Gross |
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useful lives |
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carrying |
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Accumulated |
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June 30, 2025 |
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(in years) |
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amount |
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amortization |
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Net amount |
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Developed technology |
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10 |
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$ |
35,432 |
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$ |
6,348 |
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$ |
29,084 |
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Licenses |
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10 |
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|
159 |
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|
159 |
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— |
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Patents and websites |
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5 |
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3,775 |
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3,768 |
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7 |
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Customer relationships |
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4-10 |
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3,164 |
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1,723 |
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1,441 |
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Trade name |
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4 |
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|
219 |
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|
98 |
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|
121 |
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Commercials |
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3 |
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|
494 |
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|
364 |
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|
130 |
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Internally developed software |
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3 |
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3,707 |
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1,131 |
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|
2,576 |
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Total |
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$ |
46,950 |
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$ |
13,591 |
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$ |
33,359 |
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Average |
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estimated |
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Gross |
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useful lives |
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carrying |
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Accumulated |
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December 31, 2024 |
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(in years) |
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amount |
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amortization |
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Net amount |
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Developed technology |
|
10 |
|
$ |
31,342 |
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$ |
4,048 |
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$ |
27,294 |
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Licenses |
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10 |
|
|
159 |
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|
159 |
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— |
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Patents and websites |
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5 |
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3,776 |
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3,752 |
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|
24 |
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Customer relationships |
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4-10 |
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2,799 |
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|
1,447 |
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|
1,352 |
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Trade name |
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4 |
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|
194 |
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|
63 |
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|
131 |
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Commercials |
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3 |
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|
494 |
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|
282 |
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|
212 |
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Internally developed software |
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3 |
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2,090 |
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|
610 |
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|
1,480 |
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Total |
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$ |
40,854 |
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$ |
10,361 |
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$ |
30,493 |
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| Schedule of Annual Estimated Amortization Expense |
Annual estimated amortization expense for each of the succeeding fiscal years is as follows:
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June 30, |
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|
2025 |
|
Remaining 6 months of 2025 |
|
$ |
3,885 |
|
2026 |
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|
4,932 |
|
2027 |
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|
4,207 |
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2028 |
|
|
3,756 |
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2029 |
|
|
3,719 |
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2030 |
|
|
3,440 |
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Thereafter |
|
|
9,420 |
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Total |
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$ |
33,359 |
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| Schedule of Accounts Payable and Accrued Expenses |
Accounts payable and accrued expenses as of June 30, 2025 and December 31, 2024 consisted of the following:
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June 30, |
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December 31, |
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|
2025 |
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|
2024 |
|
Accounts payable |
|
$ |
21,900 |
|
|
$ |
16,616 |
|
Accrued inventory (in-transit and unvouchered receipts) and trade payables |
|
|
7,044 |
|
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|
6,917 |
|
Accrued loss on purchase commitments |
|
|
904 |
|
|
|
672 |
|
Forward contract payable |
|
|
2,820 |
|
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|
— |
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Other accrued expenses |
|
|
2,476 |
|
|
|
2,948 |
|
Total accounts payable and accrued expenses |
|
$ |
35,144 |
|
|
$ |
27,153 |
|
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| Schedule of Accrued Payroll |
Accrued payroll as of June 30, 2025 and December 31, 2024 consisted of the following:
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June 30, |
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December 31, |
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|
2025 |
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|
2024 |
|
Accrued bonuses |
|
$ |
3,075 |
|
|
$ |
6,370 |
|
Accrued wages and other payroll related items |
|
|
4,748 |
|
|
|
5,570 |
|
Accrued vacation |
|
|
4,113 |
|
|
|
3,456 |
|
Accrued severance |
|
|
512 |
|
|
|
1,429 |
|
Accrued employee stock purchase plan deductions |
|
|
399 |
|
|
|
364 |
|
Total accrued payroll |
|
$ |
12,847 |
|
|
$ |
17,189 |
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