Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of disaggregation of revenue by geographic region and type

Revenue information by geographic region is as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
	(unaudited)				(unaudited)
United States	$	6,099,767	$	5,016,550	$	17,808,918	$	14,176,357
International		1,514,888		673,174		4,290,673		2,200,291
Total revenue	$	7,614,655	$	5,689,724	$	22,099,591	$	16,376,648

Revenue information by type is as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
	(unaudited)				(unaudited)
Devices:
MRI Compatible IV Infusion Pump Systems	$	3,532,670	$	3,606,327	$	10,748,830	$	9,888,166
MRI Compatible Patient Vital Signs Monitoring Systems		1,817,361		118,598		4,526,735		907,622
Total Devices Revenue		5,350,031		3,724,925		15,275,565		10,795,788
Disposables and Services		1,874,439		1,673,254		5,722,573		4,893,990
Amortization of extended warranty agreements		390,185		291,545		1,101,453		686,870
Total revenue	$	7,614,655	$	5,689,724	$	22,099,591	$	16,376,648

Schedule of deferred revenue and changes in the contract liabilities

Deferred revenue is classified as current or long-term deferred revenue in our Balance Sheets, depending on the expected timing of satisfying the related performance obligations. Our contract liabilities consist of:


	September 30,		December 31,
	2018		2017
	(unaudited)
Advance payments from customers	$	53,273	$	251,087
Shipments in-transit		84,865		13,326
Extended warranty agreements		3,564,597		3,356,843
Total	$	3,702,735	$	3,621,256

Changes in the contract liabilities during the period are as follows:


	Deferred
	Revenue
Contract liabilities, December 31, 2017	$	3,621,256
Increases due to cash received from customers		1,764,735
Decreases due to recognition of revenue		(1,683,256)
Contract liabilities, September 30, 2018	$	3,702,735