v3.26.1
REVENUES
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
REVENUES
NOTE 2- REVENUES
Contract Assets
In certain circumstances, contract assets are recorded to include unbilled amounts typically resulting from sales under contracts when revenue recognized exceeds the amount billed to the customers and right to payment is subject to contractual performance obligations rather than subject only to the passage of time. Contract assets were $1.5 million and $1.6 million as of March 31, 2026 and December 31, 2025, respectively, and are included in Prepaid expenses and other current assets on the accompanying Condensed Consolidated Balance Sheets.
Contract Liabilities
Our contract liabilities consist of deferred revenue generally related to maintenance and service contracts, post-sale support and extended warranty sales, where we generally receive up-front payment and recognize revenue over the service or support term. We classify deferred revenue as current or non-current based on the timing of when we expect to recognize revenue. The non-current portion of deferred revenue is recorded within Other liabilities on our Condensed Consolidated Balance Sheets.
Our contract liabilities consisted of the following:
(in thousands)March 31, 2026December 31, 2025
Deferred revenue, current and customer deposits$20,020 $17,423 
Deferred revenue, noncurrent2,908 2,794 
Total contract liabilities$22,928 $20,217 
During the three months ended March 31, 2026, the Company recognized $7.2 million of revenue related to the Company's contract liabilities at December 31, 2025. The change in contract liabilities from December 31, 2025 to March 31, 2026 was primarily due to the timing of cash receipts and sales of extended service contracts.
Collaborative Arrangements
The Company enters into collaborative arrangements with customers that provide for cost reimbursement of certain expenses and potential milestone payments.
The Company recognized $1.2 million in product revenue and $1.1 million in product cost of sales related to collaborative arrangements during the three months ended March 31, 2026.
For the three months ended March 31, 2025, the Company recognized $2.8 million in product revenue and $2.5 million in product cost of sales related to collaborative arrangements.
Remaining Performance Obligations
Remaining performance obligations represent the transaction price allocated to performance obligations that are unsatisfied as of the end of the period. As of March 31, 2026, the Company had $6.2 million of remaining performance obligations, primarily related to maintenance and service contracts, post-sale support and extended warranties. We expect approximately 86% to be recognized as revenue within the next two years, and the remaining thereafter. We have excluded performance obligations with an original expected duration of one year or less.
Revenue Concentration
Revenue, disaggregated by the geographic region in which a sale originated, was as follows:
Three Months Ended
(in thousands)March 31, 2026March 31, 2025
Americas$57,065 $51,935 
EMEA34,340 33,435 
APAC4,133 9,170 
Total$95,538 $94,540 
United States (included within Americas) $56,756 $50,899 
Germany (included within EMEA)$15,751 $16,983 
For the three months ended March 31, 2026, two customers within our Healthcare Solutions segment accounted for 17.4% and 10.0% of our consolidated revenue, respectively. For the three months ended March 31, 2025, one customer within our Healthcare Solutions segment accounted for 12.0% of our consolidated revenue. We expect to maintain our relationships with these customers.