| Revenue Recognition |
Revenue recognized for each revenue stream was as follows:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31, |
|
(in thousands) |
|
2026 |
|
|
2025 |
|
Pellet procedures |
|
$ |
31,294 |
|
|
$ |
36,042 |
|
Dietary supplements |
|
|
11,037 |
|
|
|
9,270 |
|
Disposable trocars |
|
|
1,130 |
|
|
|
1,175 |
|
Shipping fees and other |
|
|
434 |
|
|
|
538 |
|
Product revenue |
|
|
43,895 |
|
|
|
47,025 |
|
|
|
|
|
|
|
|
Training |
|
|
130 |
|
|
|
326 |
|
Contract-term services |
|
|
332 |
|
|
|
335 |
|
Other |
|
|
578 |
|
|
|
1,306 |
|
Service revenue |
|
|
1,040 |
|
|
|
1,967 |
|
Total revenue |
|
$ |
44,935 |
|
|
$ |
48,992 |
|
Revenue recognized by geographic region was as follows:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
(in thousands) |
|
2026 |
|
|
2025 |
|
United States |
|
$ |
43,693 |
|
|
$ |
46,779 |
|
All other |
|
|
202 |
|
|
|
246 |
|
Product revenue |
|
|
43,895 |
|
|
|
47,025 |
|
|
|
|
|
|
|
|
United States |
|
|
1,040 |
|
|
|
1,967 |
|
All other |
|
|
— |
|
|
|
— |
|
Service revenue |
|
|
1,040 |
|
|
|
1,967 |
|
Total revenue |
|
$ |
44,935 |
|
|
$ |
48,992 |
|
Significant changes in contract liability balances were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Description of change
(in thousands) |
|
Deferred Revenue |
|
|
Deferred Revenue,
Long-term |
|
|
Deferred Revenue |
|
|
Deferred Revenue,
Long-term |
|
Revenue recognized that was included in the contract liability balance at the beginning of the period |
|
$ |
(986 |
) |
|
$ |
— |
|
|
$ |
(994 |
) |
|
$ |
— |
|
Increases due to cash received, excluding amounts recognized as revenue during the period |
|
|
838 |
|
|
|
165 |
|
|
|
903 |
|
|
|
328 |
|
Transfers between current and non-current liabilities due to the expected revenue recognition period |
|
|
50 |
|
|
|
(50 |
) |
|
|
737 |
|
|
|
(737 |
) |
Total increase (decrease) in contract liabilities |
|
$ |
(98 |
) |
|
$ |
115 |
|
|
$ |
646 |
|
|
$ |
(409 |
) |
Consideration allocated to initial training due to deposits paid upfront is presented within deferred revenue in the unaudited condensed consolidated balance sheets and is expected to be recognized as revenue within one year as the training is performed. Consideration allocated to contract-term services is presented within deferred revenue, current and deferred revenue, net of current portion for the amounts expected to be recognized within one year and longer than one year, respectively. Consideration allocated to the premiums within the management fee for pellet procedures is presented within deferred revenue current and deferred revenue, net of current portion for amounts expected to be recognized within one year and longer than one year, respectively. Consideration allocated to performance obligations was as follows:
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
December 31, |
|
(in thousands) |
|
2026 |
|
|
2025 |
|
Unsatisfied training obligations – Current |
|
$ |
99 |
|
|
$ |
158 |
|
Unsatisfied contract-term services – Current |
|
|
1,447 |
|
|
|
1,471 |
|
Unsatisfied contract-term services – Long-term |
|
|
607 |
|
|
|
745 |
|
Total allocated to unsatisfied contract-term services |
|
|
2,054 |
|
|
|
2,216 |
|
Unsatisfied pellet procedures – Current |
|
|
1,302 |
|
|
|
1,388 |
|
Unsatisfied pellet procedures – Long-term |
|
|
315 |
|
|
|
352 |
|
Total allocated to unsatisfied pellet procedures |
|
|
1,617 |
|
|
|
1,740 |
|
Total deferred revenue – Current |
|
$ |
2,848 |
|
|
$ |
3,017 |
|
Total deferred revenue – Long-term |
|
$ |
922 |
|
|
$ |
1,097 |
|
The Company does not have a history of material returns or refunds and generally does not offer warranties or guarantees for any products or services. There were no expected returns or refunds recorded as a reduction of revenue for the three months ended March 31, 2026 and 2025.
|