Quarterly report pursuant to Section 13 or 15(d)

Equipment on Lease, Net

v3.23.2
Equipment on Lease, Net
 6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Equipment on Lease, Net Equipment on Lease, Net
The equipment leased to customers had a cost basis of $8.3 million and accumulated depreciation of $0.6 million as of June 30, 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 June 30, 2023 and 2022, respectively. The total depreciation expense was $0.6 million and $0.9 million included in cost of revenue for the six months ended June 30, 2023 and 2022, respectively.
Lease payments from customers consisted of the following:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
(In thousands) (In thousands)
Equipment on lease payments $ 35  $ 833  $ 610  $ 1,713 
Equipment on lease variable payments —  101  —  146 
Total lease payments $ 35  $ 934  $ 610  $ 1,859 
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.