Note 3 - Revenue Recognition

12 Months Ended

Dec. 31, 2023

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,
	2023		2022
	(in thousands)
U.S.
Instruments and accessories	$	205	$	211
Services		294		300
Leases		196		256
Total U.S. revenue		695		767
Outside of U.S. ("OUS")
Systems		3,645		2,551
Instruments and accessories		1,669		1,565
Services		758		1,073
Leases		1,810		1,131
Total OUS revenue		7,882		6,320
Total
Systems		3,645		2,551
Instruments and accessories		1,874		1,776
Services		1,052		1,373
Leases		2,006		1,387
Total revenue	$	8,577	$	7,087

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, 2023 was $0.9 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, 2023 and 2022 was $0.5 million, which was included in the deferred revenue balance of $0.5 million as of December 31, 2022 and 2021.

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

	December 31, 2023		December 31, 2022
	(in thousands)
Contract assets	$	95	$	116
Deferred revenue	$	711	$	465