| Revenue from Contract with Customer [Text Block] |
The following tables represent a disaggregation of revenues from contracts with customers for the three and six months ended June 30, 2026 and 2025:
Revenues by type were as follows:
| |
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
|
(in thousands)
|
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
Instruments, equipment, software and accessories
|
|
$ |
20,304 |
|
|
$ |
18,178 |
|
|
$ |
38,870 |
|
|
$ |
38,043 |
|
|
Service, maintenance and warranty contracts
|
|
|
2,423 |
|
|
|
2,272 |
|
|
|
4,612 |
|
|
|
4,181 |
|
|
Total revenues
|
|
$ |
22,727 |
|
|
$ |
20,450 |
|
|
$ |
43,482 |
|
|
$ |
42,224 |
|
Revenues by timing of recognition were as follows:
| |
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
|
(in thousands)
|
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
Goods and services transferred at a point in time
|
|
$ |
21,361 |
|
|
$ |
19,269 |
|
|
$ |
40,796 |
|
|
$ |
40,214 |
|
|
Goods and services transferred over time
|
|
|
1,366 |
|
|
|
1,181 |
|
|
|
2,686 |
|
|
|
2,010 |
|
|
Total revenues
|
|
$ |
22,727 |
|
|
$ |
20,450 |
|
|
$ |
43,482 |
|
|
$ |
42,224 |
|
Revenues by geographic destination were as follows:
| |
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
|
(in thousands)
|
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
Americas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
$ |
10,503 |
|
|
|
9,656 |
|
|
$ |
19,308 |
|
|
$ |
19,483 |
|
|
Americas - Other
|
|
|
878 |
|
|
|
422 |
|
|
|
1,725 |
|
|
|
1,251 |
|
|
Europe, Middle East and Africa
|
|
|
6,783 |
|
|
|
6,588 |
|
|
|
13,254 |
|
|
|
12,618 |
|
|
Asia
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
China
|
|
|
3,076 |
|
|
|
2,451 |
|
|
|
5,883 |
|
|
|
5,185 |
|
|
Asia - Other
|
|
|
1,487 |
|
|
|
1,333 |
|
|
|
3,312 |
|
|
|
3,687 |
|
| |
|
$ |
22,727 |
|
|
$ |
20,450 |
|
|
$ |
43,482 |
|
|
$ |
42,224 |
|
Contract Liabilities
The following table provides details of contract liabilities as of the dates indicated:
| |
|
June 30,
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
2026
|
|
|
2025
|
|
|
Change
|
|
|
Percentage
|
|
|
Deferred revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service, maintenance and warranty contracts
|
|
$ |
2,181 |
|
|
$ |
1,934 |
|
|
$ |
247 |
|
|
|
13 |
% |
|
Installation and training
|
|
|
770 |
|
|
|
711 |
|
|
|
59 |
|
|
|
8 |
% |
|
Customer advances
|
|
|
650 |
|
|
|
802 |
|
|
|
(152 |
) |
|
|
-19 |
% |
|
Total short-term contract liabilities
|
|
|
3,601 |
|
|
|
3,447 |
|
|
|
154 |
|
|
|
4 |
% |
|
Long-term service, maintenance and warranty contracts
|
|
|
135 |
|
|
|
198 |
|
|
|
(63 |
) |
|
|
-32 |
% |
|
Total contract liabilities
|
|
$ |
3,736 |
|
|
$ |
3,645 |
|
|
$ |
91 |
|
|
|
2 |
% |
Changes in the Company’s contract liabilities are primarily due to the timing of receipt of payments under service, maintenance and warranty contracts and lower sales volumes. Additionally, customer advances have decreased due to the recognition of amounts under the Company’s equipment exchange program. During the three months ended June 30, 2026 and 2025, the Company recognized revenues of $1.0 million and $1.1 million from contract liabilities existing at December 31, 2025 and 2024, respectively. During the six months ended June 30, 2026 and 2025, the Company recognized revenue of $2.4 million and $2.8 million from contract liabilities existing at December 31, 2025 and 2024, respectively.
The following table represents the Company's remaining performance obligations from contracts that are recognized over time as of June 30, 2026:
| |
|
Remaining Performance Obligations
|
|
|
(in thousands)
|
|
|
2026 * |
|
|
|
2027 |
|
|
|
2028 |
|
|
|
2029 |
|
|
|
2030 |
|
|
Thereafter
|
|
|
Total
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service, maintenance and warranty contracts
|
|
$ |
1,750 |
|
|
$ |
513 |
|
|
$ |
49 |
|
|
$ |
4 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
2,316 |
|
* remainder of the year
Provision for Expected Credit Losses on Receivables
Activity in the provision for expected credit losses on receivables was as follows:
| |
|
Six Months Ended June 30,
|
|
|
(in thousands)
|
|
2026
|
|
|
2025
|
|
|
Balance, beginning of period
|
|
$ |
207 |
|
|
$ |
215 |
|
|
Provision for expected credit losses
|
|
|
(7 |
) |
|
|
(39 |
) |
|
Charge-offs and other
|
|
|
(1 |
) |
|
|
(12 |
) |
|
Balance, end of period
|
|
$ |
199 |
|
|
$ |
164 |
|
Concentrations
No customer accounted for more than 10% of revenues for the three and six months ended June 30, 2026 and 2025. At June 30, 2026 and December 31, 2025, no customer accounted for more than 10% of net accounts receivable.
Warranties
Activity in the product warranties accrual was as follows:
| |
|
Six Months Ended June 30,
|
|
|
(in thousands)
|
|
2026
|
|
|
2025
|
|
|
Balance, beginning of period
|
|
$ |
214 |
|
|
$ |
318 |
|
|
Provision for warranties
|
|
|
44 |
|
|
|
68 |
|
|
Warranty claims
|
|
|
(68 |
) |
|
|
(47 |
) |
|
Balance, end of period
|
|
$ |
190 |
|
|
$ |
339 |
|
|