v3.25.4
Balance Sheet Information
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Information Balance Sheet Information
Accounts Receivable, Net
Accounts receivable, net are amounts billed and currently due from customers. The Company records the amounts due net of allowance for credit losses. Collection of the consideration that the Company expects to receive typically occurs within 30 to 90 days of billing. The Company applies the practical expedient for contracts with payment terms of one year or less which does not consider the effects of the time value of money. Occasionally, the Company enters into payment agreements with patients that allow payment terms beyond one year. In those cases, the financing component is not deemed significant to the contract.
Accounts receivable, net of allowances, consisted of the following as of December 31:
20252024
Accounts receivable$131,206 $130,257 
Less: Allowance for credit losses(2,903)(2,864)
$128,303 $127,393 
Due to the short-term nature of the Company’s receivables, the estimate of expected credit losses is based on the aging of its accounts receivables. The allowance is adjusted on a specific identification basis for certain accounts as well as pooling of accounts with similar characteristics. The Company has a diverse customer base and had one customer representing approximately 28.1% and 20.4% of the accounts receivable balance as of December 31, 2025 and 2024, respectively. Historically, the Company’s reserves have been adequate to cover credit losses.
Changes in credit losses were as follows for the years ended December 31:
20252024
Beginning balance$(2,864)$(4,219)
(Provision) benefit for expected credit losses(1,256)434 
Write-offs1,728 4,334 
Recoveries(511)(3,640)
Disposals— 227 
Ending balance$(2,903)$(2,864)
Inventory
Inventory consisted of the following as of December 31:
20252024
Raw materials and supplies$21,240 $22,098 
Finished goods60,996 70,377 
$82,236 $92,475 
Property and Equipment, Net
Property and equipment, net consisted of the following as of December 31:
20252024
Computer equipment and software$38,403 $41,355 
Demonstration and consignment inventory10,666 9,695 
Leasehold improvements4,343 4,095 
Furniture and fixtures4,769 4,586 
Finance leases15,720 15,737 
Machinery and equipment1,561 1,461 
Assets not yet placed in service701 269 
76,163 77,198 
Less: Accumulated depreciation(54,264)(50,186)
$21,899 $27,012 
Depreciation expense from continuing operations was $8,033, $10,533 and $12,121 for the years ended December 31, 2025, 2024 and 2023, respectively. The Company incurred a $2,038 disposal loss on fixed assets during the year ended December 31, 2023 as a result of the integration of acquisitions. The loss was recorded in loss on disposals within the consolidated statements of operations and other comprehensive income (loss).
Goodwill
The Company’s goodwill totaled $7,462 as of December 31, 2025 and 2024, all of which fully resides within the International business segment. Accumulated goodwill impairment losses totaled $189,197 as of December 31, 2025 and 2024.
Intangible Assets, Net
Intangible assets, net consisted of the following as of December 31:
20252024
Intellectual property(a)(b)
$631,507 $626,007 
Distribution rights61,325 61,325 
Customer relationships(c)
— 57,700 
IPR&D(b)
— 5,500 
Developed technology and other13,998 13,998 
Total carrying amount706,830 764,530 
Less accumulated amortization:
Intellectual property(a)(b)
(269,535)(237,829)
Distribution rights(58,783)(54,280)
Customer relationships(c)
— (57,700)
Developed technology and other(9,634)(8,486)
Total accumulated amortization(337,952)(358,295)
Intangible assets, net before currency translation368,878 406,235 
Currency translation(459)(1,506)
$368,419 $404,729 
(a)The Company recorded an impairment loss of $33,901 for the year ended December 31, 2024 within the U.S. reporting segment relating to the net intellectual property solely attributable to the Advanced Rehabilitation Business. The loss was recorded in impairment of assets within the consolidated statements of operations and comprehensive income (loss). Refer to Refer to Note 4. Divestitures for further details regarding businesses held for sale.
(b)The intangible asset previously classified as IPR&D became active during the year ended December 31, 2025, following the receipt of FDA clearance for the TalisMann product. As a result, this intangible asset is now subject to amortization over its estimated useful life, which reflects the period of expected economic benefit.
(c)Customer relationship intangible assets reached the end of their amortizable lives in 2024. The assets were written off in 2025.
Amortization expense from continuing operations related to intangible assets was $38,978, $39,022 and $45,244 for the years ended December 31, 2025, 2024 and 2023, respectively, of which $22,080, $24,841 and $23,848 are included in ending inventory at December 31, 2025, 2024 and 2023, respectively. Estimated amortization expense for the years ended December 31, 2026 through 2030 is expected to be $34,500, $33,903, $33,096, $30,275 and $28,189, respectively. The Company recorded an impairment loss of $78,615 during the year ended December 31, 2023 in the U.S. reporting segment of net intellectual property attributable to the TheraSkin and TheraGenesis products, which were sold in May 2023. The loss was recorded in impairment of assets within the consolidated statements of operations and comprehensive income (loss). Refer to Note 4. Divestitures for further information.
Accrued Liabilities
Accrued liabilities consisted of the following as of December 31:
20252024
Gross-to-net deductions$73,487 $66,405 
Bonus and commission25,040 32,647 
Compensation and benefits6,560 7,598 
Accrued interest3,168 5,324 
Income and other taxes5,135 3,868 
Other liabilities16,852 20,037 
$130,242 $135,879