SEGMENT, GEOGRAPHIC AND REVENUE DISAGGREGATION

12 Months Ended

Dec. 31, 2024

Geographic Areas, Long-Lived Assets [Abstract]

SEGMENT, GEOGRAPHIC AND REVENUE DISAGGREGATION

NOTE 17. SEGMENT, GEOGRAPHIC AND REVENUE DISAGGREGATION

The Company operates as one operating segment, deriving instrument, consumable, and service revenues from customers engaged in healthcare diagnostics primarily within the United States. Product revenue is derived from the sale or rental of instruments and sales of related consumable products. Service revenue is derived from the sale of extended service agreements.

The chief operating decision maker (CODM), our President and Chief Executive Officer and Chief Financial Officer, assesses performance on a consolidated basis and decides how to allocate resources based on consolidated net loss as presented on the Company’s consolidated statements of operations and comprehensive loss predominantly in the annual budgeting and forecasting process.

Given the Company operates as one segment, segment net sales, profit and loss, and total assets is consistent with consolidated net sales, profits and losses, and total assets as presented on the Company’s consolidated statements of operations and comprehensive loss and balance sheets as of and for the years ended December 31, 2024 and 2023. The Company’s significant segment expenses are consistent with those presented on the Company’s consolidated statements of operations and comprehensive loss for the years ended December 31, 2024 and 2023.

Sales to customers outside the U.S. represented 11% and 12% of net sales for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, accounts receivable balances due from these foreign customers, in U.S. dollars, were $0.5 million and $0.9 million, respectively.

The following presents long-lived assets by geographic territory at December 31 (in thousands):

	2024		2023
Domestic	$	2,387	$	2,139
Foreign	188		250
	$	2,575	$	2,389

The following presents total net sales by geographic territory for the years ended December 31 (in thousands):

	2024		2023
Domestic	$	10,400	$	10,611
Foreign	1,298		1,448
Net sales	$	11,698	$	12,059

The following presents total net sales by line of business for the years ended December 31 (in thousands):

	2024		2023
Accelerate instrument and consumable revenue	$	11,731	$	11,928
Other revenue	(33)		131
Net sales	$	11,698	$	12,059

The following presents total net sales by products and services for the years ended December 31 (in thousands):

	2024		2023
Products	$	10,217	$	10,609
Services	1,481		1,450
Net sales	$	11,698	$	12,059

Lease income included in net sales in the consolidated statements of operations and comprehensive income was $0.9 million and $1.5 million for the years ended December 31, 2024 and 2023, respectively, and was recorded in accordance with ASC 842. This income does not represent revenue recognized from contracts with customers in accordance with ASC 606.