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Leases | 9 Months Ended
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Sep. 30, 2025
Leases |
Leases | 15.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 was terminated effective September 30, 2025. On March 19, 2025, the Company entered into a 12-month lease agreement for a new office space located at 51 E Campbell Avenue, Suite 107-D, Campbell, California. The Company recognized facilities lease expenses of $25 and $22 for the three months ended September 30, 2025 and 2024, respectively. The Company recognized facilities lease expenses of $74 and $66 for the nine months ended September 30, 2025 and 2024, respectively. Lessor arrangements The Company enters into contracts with customers for its QuantaFlo product. The Company has determined that 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). During the three months ended September 30, 2025 and 2024, the Company recognized approximately $6,264 and $6,780, respectively, in lease revenues related to these arrangements, which is included in revenues on the unaudited condensed consolidated statements of operations. During the nine months ended September 30, 2025 and 2024, the Company recognized approximately $18,577 and $20,633, respectively, in lease revenues related to these arrangements, which is included in revenues on the unaudited condensed statements of operations. 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 included in assets for lease, net on the unaudited condensed consolidated balance sheets (See Note 6 for additional information).

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