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Leases | 12 Months Ended
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Dec. 31, 2024
Leases |
Leases | 13. Leases Lessee Arrangements On July 31, 2020, the Company entered into a 61-month lease agreement for office space to use, as necessary, for office administration, lab space and assembly and storage purposes, located in Santa Clara, California. The Company took possession of the leased office space in September 2020, and the lease is effective through September 30, 2025. The discount rate determined for this lease was 2.5%. As of December 31, 2024, the remaining lease term is nine months with no options to renew. The Company recognized facilities lease expenses of $88 and $88 for the years ended December 31, 2024 and 2023, respectively. The following table summarizes the future minimum rental payments required under operating leases that had initial or remaining non-cancelable lease terms greater than one year as of December 31, 2024: ​
​ | ​ | ​ | ​
​ |  | Total
2025 | ​ |  | 71
Total undiscounted future minimum lease payments | ​ |  | 71
Less: present value discount | ​ |  | (1)
Total lease liabilities | ​ |  | 70
Lease expense in excess cash payment | ​ |  | (5)
Total ROU asset | ​ | $ | 65
​ As of December 31, 2024, the Company’s ROU asset was $65, which is recorded on the Company’s balance sheet as other non-current assets, and the Company’s current lease liabilities were $70, which were recorded on the Company’s balance sheet as other short-term liabilities. Lessor Arrangements The Company enters into contracts with customers for the Company’s QuantaFlo® product. The Company has determined these contracts meet the definition of a lease under Topic 842. The lease portfolio primarily consists of operating leases that are short-term in nature (monthly, quarterly or one year, all of which have renewal options). The Company made an accounting policy election to apply the practical expedient to not separate lease and eligible non-lease components. The lease component is the predominant component and consists of fees charged for use of the equipment over the period of the arrangement. The nature of the eligible non-lease component is primarily software support. The assets associated with these leasing arrangements are separately identified in the Balance Sheet as Assets for Lease and separately disclosed in Note 3 to the financial statements. During the year ended December 31, 2024 and 2023, the Company recognized approximately $27,488 and $37,262, respectively, in lease revenue related to these arrangements, which is included in revenues on the Statements of Income. Variable-fee Revenue The Company recognizes revenues from variable-fee licenses (e.g., fee per test) and sales of hardware equipment and accessories in accordance with Topic 606. Total revenues from variable-fee licenses were approximately $25,955 and $28,992 for the years ended December 31, 2024 and 2023, respectively. Total revenues from sales of hardware and equipment accessories were approximately $2,851 and $1,930 for the years ended December 31, 2024 and 2023, respectively.

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- Definition The entire disclosure of information about leases. + References No definition available. + Details
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- References No definition available. + Details
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