Quarterly report pursuant to Section 13 or 15(d)

Equipment on Lease, Net

v3.24.4
Equipment on Lease, Net
9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Equipment on Lease, Net

Note 7. Equipment on Lease, Net

The equipment leased to customers had a cost basis of $4.6 million and accumulated depreciation of $0.8 million as of September 30, 2024. The equipment leased to customers had a cost basis of $7.4 million and accumulated depreciation of $0.8 million as of December 31, 2023.

The total depreciation expense was $0.1 million and $0.1 million included in cost of revenue for the three months ended September 30, 2024 and 2023, respectively. The total depreciation expense was $0.6 million and $0.7 million included in cost of revenue for the nine months ended September 30, 2024 and 2023, respectively.

Lease payments from customers consisted of the following:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

(In thousands)

 

Equipment on lease payments

 

$

192

 

 

$

531

 

 

$

954

 

 

$

1,141

 

 

Lease payments to be received as of September 30, 2024 are as follows:

 

 

(In thousands)

 

Remainder of 2024

 

$

500

 

2025

 

 

1,167

 

2026

 

 

 

2027

 

 

 

2028

 

 

 

Thereafter

 

 

 

Total lease payments to be received

 

$

1,667