Quarterly report [Sections 13 or 15(d)]

Revenue Recognition (Tables)

v3.25.3
Revenue Recognition (Tables)
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue by Service Line

Revenue by Service Line

 

Three Months Ended September 30,

 

(in thousands)

 

2025

 

 

2024

 

Biologics and drug delivery

 

 

 

 

 

 

Disposable products

 

$

1,292

 

 

$

2,062

 

Services and license fees

 

 

3,110

 

 

 

2,369

 

Subtotal – Biologics and drug delivery revenue

 

 

4,402

 

 

 

4,431

 

Neurosurgery navigation and therapy

 

 

 

 

 

 

Disposable products

 

 

3,422

 

 

 

2,860

 

Subtotal – Neurosurgery navigation and therapy revenue

 

 

3,422

 

 

 

2,860

 

Capital equipment and software

 

 

 

 

 

 

Systems and software products

 

 

647

 

 

 

552

 

Services

 

 

390

 

 

 

279

 

Subtotal – Capital equipment and software revenue

 

 

1,037

 

 

 

831

 

Total revenue

 

$

8,861

 

 

$

8,122

 

 

 

Nine Months Ended September 30,

 

(in thousands)

 

2025

 

 

2024

 

Biologics and drug delivery

 

 

 

 

 

 

Disposable products

 

$

4,943

 

 

$

4,286

 

Services and license fees

 

 

8,889

 

 

 

8,779

 

Subtotal – Biologics and drug delivery revenue

 

 

13,832

 

 

 

13,065

 

Neurosurgery navigation and therapy

 

 

 

 

 

 

Disposable products

 

 

10,131

 

 

 

7,373

 

Subtotal – Neurosurgery navigation and therapy revenue

 

 

10,131

 

 

 

7,373

 

Capital equipment and software

 

 

 

 

 

 

Systems and software products

 

 

1,575

 

 

 

2,394

 

Services

 

 

1,023

 

 

 

787

 

Subtotal – Capital equipment and software revenue

 

 

2,598

 

 

 

3,181

 

Total revenue

 

$

26,561

 

 

$

23,619

 

Schedule of Other Current Assets

(in thousands)

 

September 30, 2025

 

 

December 31, 2024

 

Accounts receivable, net

 

$

4,000

 

 

$

4,713

 

Other contract assets

 

 

 

 

 

 

Unbilled receivables

 

$

1,256

 

 

$

642

 

Schedule of Revenue Recognized by Contract Liability The unearned portion of all such fees is classified as contract liabilities.

(in thousands)

 

September 30, 2025

 

 

December 31, 2024

 

Contract liabilities

 

$

2,488

 

 

$

2,557