Quarterly report pursuant to Section 13 or 15(d)

Equipment on Lease, Net

v3.23.1
Equipment on Lease, Net
 3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Equipment on Lease, Net Equipment on Lease, Net
The equipment leased to customers had a cost basis of $8.1 million and accumulated depreciation of $1.4 million as of March 31, 2023. The equipment leased to customers had a cost basis of $10.6 million and accumulated depreciation of $1.5 million as of December 31, 2022.
The total depreciation expense was $0.3 million and $0.5 million included in cost of revenue for the three months ended March 31, 2023 and 2022, respectively.
Lease payments from customers consisted of the following:
March 31,
2023 2022
(In thousands)
Equipment on lease payments 575  880 
Equipment on lease variable payments —  45 
Total lease payments $ 575  $ 925 
The Company entered into debt secured by certain leased equipment to customers. See Note 9, Long-term Debt, for a description of these financing arrangements.