v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following tables illustrate the disaggregation of revenue by geographic area, groups of similar products and services and sales channels:
Net sales by geographic area
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Americas$218.7 $213.5 $412.7 $410.8 
Europe, Middle East and Africa86.5 84.7 173.4 160.7 
Asia Pacific18.8 20.4 35.8 37.1 
Total$324.0 $318.6 $621.9 $608.6 
Net sales are attributed to each geographic area based on the end-user country and are net of intercompany sales.
Net sales by groups of similar products and services
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Equipment$193.8 $197.0 $371.9 $369.8 
Parts and consumables68.1 69.5 132.7 136.8 
Service and other62.1 52.1 117.3 102.0 
Total$324.0 $318.6 $621.9 $608.6 
Net sales by sales channel
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Sales direct to consumer$216.5 $216.5 $426.7 $421.6 
Sales to distributors107.5 102.1 195.2 187.0 
Total$324.0 $318.6 $621.9 $608.6 
Contract Liabilities
Sales Returns
The right of return may exist explicitly or implicitly with our customers. When the right of return exists, we adjust the transaction price for the estimated effect of returns. We estimate the expected returns using the expected value method by assessing historical sales levels and the timing and magnitude of historical sales return levels as a percent of sales and projecting this experience into the future.
Sales Incentives
Our sales contracts may contain various customer incentives, such as volume-based rebates or other promotions. We reduce the transaction price for certain customer programs and incentive offerings that represent variable consideration. Sales incentives given to our customers are recorded using the most likely amount approach for estimating the amount of consideration to which the Company will be entitled. We forecast the most likely amount of the incentive to be paid at the time of sale, update this forecast quarterly, and adjust the transaction price accordingly to reflect the new amount of incentives expected to be earned by the customer. A majority of our customer incentives are settled within one year. We record our accruals for volume-based rebates and other promotions in other current liabilities on our consolidated balance sheets.
The change in our sales incentive accrual balance was as follows:
Six Months Ended
June 30,
20262025
Beginning balance$14.8 $15.6 
Additions to sales incentive accrual15.3 12.5 
Contract payments(13.5)(12.1)
Foreign currency fluctuations(0.2)0.8 
Ending balance$16.4 $16.8 
Deferred Revenue
Deferred revenue represents consideration received or billed in advance of satisfying performance obligations that are recognized over time.
Our deferred revenue balance primarily consists of (i) amounts related to Autonomous Robotic Machine ("AMR") arrangements that are recognized over time and (ii) prepaid service and maintenance contracts for our machines. Service and maintenance contracts generally provide routine maintenance, parts coverage, and support services and are recognized ratably over the contractual service period, which typically ranges from 12 months to 60 months.
Prior to March 1, 2026, certain AMR customer arrangements required an active autonomy subscription for customers to benefit from autonomous functionality. Amounts allocated to these subscription-based arrangements were recognized over the contractual subscription period and included in deferred revenue. Effective March 1, 2026, the Company amended its AMR arrangements such that customers receive full rights to the embedded autonomy software upon delivery of the machine along with ongoing connectivity services. Revenue associated with the embedded autonomy software is recognized at the time of sale. Revenue related to connectivity services (which include cloud connectivity, software updates, diagnostic, monitoring and support services) is recognized on a straight line basis over the period the services are made available.
In arrangements that include multiple performance obligations, the transaction price is allocated to each performance obligation based on relative standalone selling prices.
The change in the deferred revenue balance was as follows:
Six Months Ended
June 30,
20262025
Beginning balance$32.4 $20.6 
Increase in deferred revenue representing our obligation to satisfy future performance obligations10.9 13.5 
Decrease in deferred revenue for amounts recognized in net sales for satisfied performance obligations(13.6)(9.3)
Foreign currency fluctuations(0.1)0.6 
Ending balance$29.6 $25.4 
As of June 30, 2026, $16.0 million and $13.6 million of deferred revenue was reported in other current liabilities and other liabilities, respectively, on our consolidated balance sheets. Of these amounts, we expect to recognize the following approximate amounts in net sales in the following periods:
Remaining 2026
$11.4 
20277.6 
20285.3 
20293.7 
20301.5 
Thereafter0.1 
Total$29.6 
As of December 31, 2025, $16.6 million and $15.8 million of deferred revenue was reported in other current liabilities and other liabilities, respectively, on our consolidated balance sheets.