| Revenue Recognition |
2 — Revenue Recognition Disaggregation of Revenue We disaggregate revenue from contracts with customers by geographic region and revenue type as we believe it best depicts the nature, amount, timing and uncertainty of our revenue and cash flow. Revenue information by geographic region is as follows: | | | | | | | | | | | | | | | | | Three Months Ended
March 31, | | | | 2026 | | 2025 | | | | | | (in thousands) | (unaudited) | | | | United States | $ | 18,025 | | | $ | 15,953 | | | | | | | International | 3,954 | | | 3,558 | | | | | | | Total revenue | $ | 21,979 | | | $ | 19,511 | | | | | |
Revenue information by type is as follows: | | | | | | | | | | | | | | | | | Three Months Ended
March 31, | | | | 2026 | | 2025 | | | | | | (in thousands) | (unaudited) | | | | Devices: | | | | | | | | | MRI Compatible Intravenous ("IV") Infusion Pump Systems | $ | 7,664 | | | $ | 5,999 | | | | | | | MRI Compatible Patient Vital Signs Monitoring Systems | 7,107 | | | 6,545 | | | | | | | Ferro Magnetic Detection Systems | 621 | | | 418 | | | | | | | Total devices revenue | 15,392 | | | 12,962 | | | | | | | Amortization of extended maintenance agreements | 659 | | | 560 | | | | | | | Disposables | 4,885 | | | 4,947 | | | | | | | Services and other | 1,043 | | | 1,042 | | | | | | | Total revenue | $ | 21,979 | | | $ | 19,511 | | | | | |
Contract Liabilities Our contract liabilities consist of: | | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | (in thousands) | (unaudited) | | (audited) | | Advance payments from customers | $ | 419 | | | $ | 486 | | | Shipments in-transit | 231 | | | 93 | | | Extended maintenance agreements | 6,504 | | | 6,270 | | | Total | $ | 7,154 | | | $ | 6,849 | |
Changes in the contract liabilities during the periods presented are as follows: | | | | | | | Deferred
Revenue | | (in thousands) | (unaudited) | | Contract liabilities, December 31, 2025 | $ | 6,849 | | | Increases due to cash received from customers | 1,917 | | | Decreases due to recognition of revenue | (1,612) | | | Contract liabilities, March 31, 2026 | $ | 7,154 | |
| | | | | | | Deferred
Revenue | | (in thousands) | (unaudited) | | Contract liabilities, December 31, 2024 | $ | 5,253 | | | Increases due to cash received from customers | 1,306 | | | Decreases due to recognition of revenue | (759) | | | Contract liabilities, March 31, 2025 | $ | 5,800 | |
Capitalized Contract Costs Our capitalized contract costs totaled $225 thousand and $239 thousand as of March 31, 2026 and December 31, 2025, respectively, and are classified as other assets on the unaudited condensed balance sheets
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