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Balance Sheet Components (Tables) | 6 Months Ended
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Jun. 30, 2022
Balance Sheet Related Disclosures [Abstract] |
Summary of Cash, Cash Equivalents and Short-term Investments | Cash, cash equivalents, and marketable securities consist of the following:
|  | June 30, |  |  | December 31, |
Cash and cash equivalents |  | 2022 |  |  | 2021 |
Cash |  | $ | 34,756 |  |  | $ | 48,817 |
Money market accounts |  |  | 188,865 |  |  |  | 186,707 |
Total cash and cash equivalents |  | $ | 223,621 |  |  | $ | 235,524 |
Marketable securities |  |  |  |  |  |
Corporate bonds |  | $ | — |  |  | $ | 9,989 |
Total marketable securities |  | $ | — |  |  | $ | 9,989 |
Schedule of Net Accounts Receivable Balance Concentrations by Major Category | Net accounts receivable (gross accounts receivable, net of allowances) balance concentrations by major category as of June 30, 2022 and December 31, 2021 were as follows:
|  | June 30, |  |  | December 31, |
Net accounts receivable |  | 2022 |  |  | 2021 |
Rental (1) |  | $ | 5,470 |  |  | $ | 6,011 |
Business-to-business and other receivables (2) |  |  | 25,676 |  |  |  | 18,441 |
Total net accounts receivable |  | $ | 31,146 |  |  | $ | 24,452 |
(1) Rental includes Medicare, Medicaid/other government, private insurance and patient pay. (2) Business-to-business receivables included one customer with an accounts receivable balance of $3,867 and $5,945 as of June 30, 2022 and December 31, 2021, respectively. The customer received extended payment terms through a direct financing plan offered. The Company also has a credit insurance policy in place, which allocated up to $10,000 in coverage as of June 30, 2022 and December 31, 2021 for this customer with a $400 deductible and 10% retention.
Schedule of Allowances for Accounts Receivable | The following tables sets forth the accounts receivable allowances as of June 30, 2022 and December 31, 2021:
|  | June 30, |  |  | December 31, |
Allowances - accounts receivable |  | 2022 |  |  | 2021 |
Doubtful accounts |  | $ | 83 |  |  | $ | 52 |
Sales returns |  |  | 1,001 |  |  |  | 810 |
Total allowances - accounts receivable |  | $ | 1,084 |  |  | $ | 862 |
Breakdown of Company's Revenue from U.S. and Non-U.S. Sources | A portion of revenue is earned from sales outside the United States. Approximately 77.4% and 67.4% of the non-U.S. revenue for the three months ended June 30, 2022 and 2021, respectively, were invoiced in Euros. Approximately 75.6% and 72.4% of the non-U.S. revenue for the six months ended June 30, 2022 and 2021, respectively, were invoiced in Euros. A breakdown of the Company’s revenue from U.S. and non-U.S. sources for the three and six months ended June 30, 2022 and 2021, respectively, is as follows:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
U.S. revenue |  | $ | 65,935 |  |  | $ | 79,740 |  |  | $ | 118,379 |  |  | $ | 150,952 |
Non-U.S. revenue |  |  | 37,441 |  |  |  | 21,823 |  |  |  | 65,382 |  |  |  | 37,543 |
Total revenue |  | $ | 103,376 |  |  | $ | 101,563 |  |  | $ | 183,761 |  |  | $ | 188,495 |
Schedule of Inventories | Inventories that are considered current consist of the following:
|  | June 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Raw materials and work-in-progress |  | $ | 21,215 |  |  | $ | 21,909 |
Finished goods |  |  | 13,994 |  |  |  | 12,116 |
Less: reserves |  |  | (1,713 | ) |  |  | (2,152 | )
Inventories, net |  | $ | 33,496 |  |  | $ | 31,873 |
Computation of Depreciation and Amortization using Straight Line Method Over Estimated Useful Lives of Assets | Property and equipment are stated at cost. Depreciation and amortization are calculated using the straight-line method over the assets’ estimated useful lives as follows:
Rental equipment |  | 1.5-5 years
Manufacturing equipment and tooling |  | 3-5 years
Computer equipment and software |  | 2-3 years
Furniture and equipment |  | 3-5 years
Leasehold improvements |  | Lesser of estimated useful life or remaining lease term
Summary of Depreciation and Amortization Expense of Rental Equipment and Other Property and Equipment | Depreciation and amortization expense related to rental equipment and other property and equipment are summarized below for the three and six months ended June 30, 2022 and 2021, respectively.
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Rental equipment |  | $ | 2,720 |  |  | $ | 2,054 |  |  | $ | 5,358 |  |  | $ | 3,942 |
Other property and equipment |  |  | 978 |  |  |  | 984 |  |  |  | 1,953 |  |  |  | 1,930 |
Total depreciation and amortization |  | $ | 3,698 |  |  | $ | 3,038 |  |  | $ | 7,311 |  |  | $ | 5,872 |
Summary of Property Plant and Equipment and Rental Equipment with Associated Accumulated Depreciation | Property and equipment and rental equipment with associated accumulated depreciation is summarized below as of June 30, 2022 and December 31, 2021, respectively.
|  | June 30, |  |  | December 31, |
Property and equipment |  | 2022 |  |  | 2021 |
Rental equipment, net of allowances of $1,740 and $1,290, respectively |  | $ | 59,158 |  |  | $ | 59,073 |
Other property and equipment |  |  | 32,410 |  |  |  | 31,522 |
Property and equipment |  |  | 91,568 |  |  |  | 90,595 |
Accumulated depreciation |  |  |  |  |  |
Rental equipment |  |  | 32,497 |  |  |  | 33,355 |
Other property and equipment |  |  | 18,653 |  |  |  | 18,314 |
Accumulated depreciation |  |  | 51,150 |  |  |  | 51,669 |
Property and equipment, net |  |  |  |  |  |
Rental equipment, net of allowances of $1,740 and $1,290, respectively |  |  | 26,661 |  |  |  | 25,718 |
Other property and equipment |  |  | 13,757 |  |  |  | 13,208 |
Property and equipment, net |  | $ | 40,418 |  |  | $ | 38,926 |
Schedule of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the six months ended June 30, 2022 were as follows:
Balance as of December 31, 2021 |  | $ | 32,979 |
Translation adjustment |  |  | (176 | )
Balance as of June 30, 2022 |  | $ | 32,803 |
Summary of Changes in Net Carrying Values of Intangible Assets | The following tables represent the changes in net carrying values of intangible assets as of the respective dates:
|  | Average |  |  |  |  |  |  |  |  |
|  | estimated |  | Gross |  |  |  |  |  |  |
|  | useful lives |  | carrying |  |  | Accumulated |  |  |  |
June 30, 2022 |  | (in years) |  | amount |  |  | amortization |  |  | Net amount |
Technology |  | 10 |  | $ | 77,700 |  |  | $ | 22,339 |  |  | $ | 55,361 |
Licenses |  | 10 |  |  | 185 |  |  |  | 182 |  |  |  | 3 |
Patents and websites |  | 5 |  |  | 4,518 |  |  |  | 4,108 |  |  |  | 410 |
Customer relationships |  | 4 |  |  | 1,254 |  |  |  | 1,254 |  |  |  | — |
Commercials |  | 2-3 |  |  | 348 |  |  |  | 272 |  |  |  | 76 |
Total |  |  |  | $ | 84,005 |  |  | $ | 28,155 |  |  | $ | 55,850 |
|  | Average |  |  |  |  |  |  |  |  |
|  | estimated |  | Gross |  |  |  |  |  |  |
|  | useful lives |  | carrying |  |  | Accumulated |  |  |  |
December 31, 2021 |  | (in years) |  | amount |  |  | amortization |  |  | Net amount |
Technology |  | 10 |  | $ | 77,700 |  |  | $ | 18,454 |  |  | $ | 59,246 |
Licenses |  | 10 |  |  | 185 |  |  |  | 180 |  |  |  | 5 |
Patents and websites |  | 5 |  |  | 4,519 |  |  |  | 3,746 |  |  |  | 773 |
Customer relationships |  | 4 |  |  | 1,361 |  |  |  | 1,361 |  |  |  | — |
Commercials |  | 2-3 |  |  | 799 |  |  |  | 676 |  |  |  | 123 |
Total |  |  |  | $ | 84,564 |  |  | $ | 24,417 |  |  | $ | 60,147 |
Schedule of Annual Estimated Amortization Expense | Annual estimated amortization expense for each of the succeeding fiscal years is as follows:
|  | June 30, |
|  | 2022 |
Remaining 6 months of 2022 |  | $ | 4,175 |
2023 |  |  | 7,876 |
2024 |  |  | 7,839 |
2025 |  |  | 7,790 |
2026 |  |  | 7,774 |
Thereafter |  |  | 20,396 |
|  | $ | 55,850 |
Schedule of Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses as of June 30, 2022 and December 31, 2021 consisted of the following:
|  | June 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Accounts payable |  | $ | 11,906 |  |  | $ | 10,258 |
Accrued inventory (in-transit and unvouchered receipts) and trade payables |  |  | 9,959 |  |  |  | 12,488 |
Accrued purchasing card liability |  |  | 3,453 |  |  |  | 1,488 |
Accrued franchise, sales and use taxes |  |  | 465 |  |  |  | 486 |
Other accrued expenses |  |  | 1,025 |  |  |  | 969 |
Accounts payable and accrued expenses |  | $ | 26,808 |  |  | $ | 25,689 |
Schedule of Accrued Payroll | Accrued payroll as of June 30, 2022 and December 31, 2021 consisted of the following:
|  | June 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Accrued bonuses |  | $ | 3,760 |  |  | $ | 8,274 |
Accrued wages and other payroll related items |  |  | 5,290 |  |  |  | 5,469 |
Accrued vacation |  |  | 2,914 |  |  |  | 2,894 |
Accrued employee stock purchase plan deductions |  |  | 695 |  |  |  | 670 |
Accrued payroll |  | $ | 12,659 |  |  | $ | 17,307 |

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