Note 3 - Revenue Recognition

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

3. Revenue Recognition

The following table presents revenue disaggregated by type and geography:

	Years Ended December 31,
	2022		2021
	(in thousands)
U.S.
Systems	$	-	$	-
Instruments and accessories		211		273
Services		300		383
Leases		256		377
Total U.S. revenue		767		1,033
Outside of U.S. ("OUS")
Systems		2,551		3,286
Instruments and accessories		1,565		1,840
Services		1,073		1,137
Leases		1,131		936
Total OUS revenue		6,320		7,199
Total
Systems		2,551		3,286
Instruments and accessories		1,776		2,113
Services		1,373		1,520
Leases		1,387		1,313
Total revenue	$	7,087	$	8,232

Remaining Performance Obligations

The transaction price allocated to remaining performance obligations relates to amounts allocated to products and services for which the revenue has not yet been recognized. A significant portion of this amount relates to service obligations performed under the Company's system sales contracts that will be invoiced and recognized as revenue in future periods. Transaction price allocated to remaining performance obligations as of December 31, 2022 was $1.1 million, which is expected to be recognized over one to four years. 

Contract Assets and Liabilities

Deferred revenue for the periods presented was primarily related to service obligations, for which the service fees are billed up-front, generally annually. The associated deferred revenue is generally recognized ratably over the service period. The Company did not have any significant impairment losses on its contract assets for the periods presented. Revenue recognized for the years ended December 31, 2022 and 2021 that was included in the deferred revenue balance at the beginning of each reporting period was $0.5 million and $0.6 million, respectively.

The following information summarizes the Company’s contract assets and liabilities:

	December 31, 2022		December 31, 2021
	(in thousands)
Contract Assets	$	116	$	91
Deferred Revenue	$	465	$	543