Revenues
The following tables present revenue disaggregated by product line and timing of revenue recognition for the years ended December 31, 2025, 2024 and 2023:
| | | | | | | | | | | | | | | | | |
| 2025 |
| | Orthopedic Surgery | | General Surgery | | Total |
| Timing of Revenue Recognition | | | | | |
| Goods transferred at a point in time | $ | 529,124 | | | $ | 789,735 | | | $ | 1,318,859 | |
| Services transferred over time | 45,474 | | | 10,391 | | | 55,865 | |
| Total sales from contracts with customers | $ | 574,598 | | | $ | 800,126 | | | $ | 1,374,724 | |
| | | | | | | | | | | | | | | | | |
| 2024 |
| | Orthopedic Surgery | | General Surgery | | Total |
| Timing of Revenue Recognition | | | | | |
| Goods transferred at a point in time | $ | 502,336 | | | $ | 754,070 | | | $ | 1,256,406 | |
| Services transferred over time | 41,652 | | | 8,957 | | | 50,609 | |
| Total sales from contracts with customers | $ | 543,988 | | | $ | 763,027 | | | $ | 1,307,015 | |
| | | | | | | | | | | | | | | | | |
| 2023 |
| | Orthopedic Surgery | | General Surgery | | Total |
| Timing of Revenue Recognition | | | | | |
| Goods transferred at a point in time | $ | 494,002 | | | $ | 704,041 | | | $ | 1,198,043 | |
| Services transferred over time | 39,156 | | | 7,545 | | | 46,701 | |
| Total sales from contracts with customers | $ | 533,158 | | | $ | 711,586 | | | $ | 1,244,744 | |
Revenue disaggregated by primary geographic market where the products are sold is included in Note 11.
Contract liability balances related to the sale of extended warranties to customers are as follows:
| | | | | | | | | | | |
| December 31, 2025 | | December 31, 2024 |
| | | |
| Contract Liability | $ | 21,967 | | | $ | 18,424 | |
Revenue recognized during years ended December 31, 2025, 2024 and 2023 from amounts included in contract liabilities at the beginning of the period were $14.4 million, $13.9 million and $12.5 million, respectively. There were no material contract assets as of December 31, 2025 and December 31, 2024.
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.