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Note 3 - Revenues

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

3. Revenues

The following tables represent a disaggregation of revenues from contracts with customers for the three and nine months ended September 30, 2025 and 2024:

Revenues by type were as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)		2025				2024				2025				2024
Instruments, equipment, software and accessories		$	18,582			$	20,543			$	56,625			$	64,594
Service, maintenance and warranty contracts			2,009				1,427				6,190				4,985
Total revenues		$	20,591			$	21,970			$	62,815			$	69,579

Revenues by timing of recognition were as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)		2025				2024				2025				2024
Goods and services transferred at a point in time		$	19,541			$	21,119			$	59,755			$	66,845
Goods and services transferred over time			1,050				851				3,060				2,734
Total revenues		$	20,591			$	21,970			$	62,815			$	69,579

Revenues by geographic region were as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)		2025				2024				2025				2024
Americas
United States		$	9,254				9,706			$	28,737			$	31,495
Americas - Other			1,185				1,211				2,436				2,635
Europe, Middle East and Africa			6,610				6,620				19,228				19,842
Asia
China			2,145				2,639				7,330				10,149
Asia - Other			1,397				1,794				5,084				5,458
		$	20,591			$	21,970			$	62,815			$	69,579

Contract Liabilities

The following table provides details of contract liabilities as of the periods indicated:

		September 30,				December 31,
(in thousands)		2025				2024				Change				Percentage
Deferred revenue
Service, maintenance and warranty contracts		$	1,414			$	1,560			$	(146	)			-9	%
Installation and training			477				806				(329	)			-41	%
Customer advances			988				1,440				(452	)			-31	%
Total short-term contract liabilities			2,879				3,806				(927	)			-24	%
Long-term service, maintenance and warranty contracts			288				-				288				100	%
Total contract liabilities		$	3,167			$	3,806			$	(639	)			-17	%

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 exchange program, which allows customers to purchase a replacement implantable monitor of the same model at a lower price than a new monitor if the customer returns an implantable monitor to the Company after use, and the returned monitor can be reprocessed and resold. During the three months ended September 30, 2025 and 2024, the Company recognized revenues of $0.4 million and $0.4 million from contract liabilities existing at December 31, 2024 and 2023, respectively. During the nine months ended September 30, 2025 and 2024, the Company recognized revenue of $3.2 million and $3.0 million from contract liabilities existing at December 31, 2024 and 2023, respectively.

The following table represents the Company's remaining performance obligations from contracts that are recognized over time as of September 30, 2025:

		Remaining Performance Obligations
(in thousands)		2025 *				2026				2027				2028				2029				Thereafter				Total
Service, maintenance and warranty contracts		$	1,194			$	450			$	38			$	15			$	5			$	-			$	1,702

* remainder of the year

Provision for Expected Credit Losses on Receivables

Activity in the provision for expected credit losses on receivables was as follows: 

		Nine Months Ended September 30,
(in thousands)		2025				2024
Balance, beginning of period		$	215			$	160
Provision for expected credit losses			(29	)			13
Charge-offs and other			(24	)			1
Balance, end of period		$	162			$	174

Concentrations

No customer accounted for more than 10% of revenues for the three and nine months ended September 30, 2025 and 2024. At September 30, 2025 and December 31, 2024, no customer accounted for more than 10% of net accounts receivable.

Warranties

Activity in the product warranties accrual was as follows:

		Nine Months Ended September 30,
(in thousands)		2025				2024
Balance, beginning of period		$	318			$	336
Provision for warranties			131				307
Warranty claims			(145	)			(228	)
Balance, end of period		$	304			$	415

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The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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