v3.25.2
Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from contracts with customers Revenue from contracts with customers
Disaggregation of revenue
The following table depicts the disaggregation of revenue by sales channel mix and customer mix as defined by the nature of workflows (in thousands):
Three months ended June 30,Six Months Ended June 30,
2025202420252024
Sales channel mix
Direct sales channel$33,469 $34,549 $63,439 $68,869 
Distributor channel12,133 12,068 23,620 22,608 
Total revenue, net$45,602 $46,617 $87,059 $91,477 
Customer mix
Academia and government*
$21,754 $20,239 $38,886 $38,643 
Biotechnology, pharmaceutical, distributor and contract research organizations*
23,848 26,378 48,173 52,834 
Total revenue, net$45,602 $46,617 $87,059 $91,477 
Revenue by geographical markets is presented in Note 21.
*Subsequent to the issuance of the June 30, 2024 interim financial statements, management identified a misclassification error in the Company's historical interim financial statements for the second quarter of fiscal year 2024 relating to a $14.2 million misclassification in the disaggregation of revenue by customer mix for the six months ended June 30, 2024. This misclassification impacts only the previously issued historical interim financial statements for the second quarter of fiscal year 2024. There is no net impact on the total revenue for the three and six months ended June 30, 2024. The Company corrected the previously presented amounts for the six months ended June 30, 2024, and concluded the error was not material to the previously issued interim financial statements.
Remaining performance obligations
The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of June 30, 2025 (in thousands):
Less than 1 yearGreater than 1 yearTotal
Product revenue$730 $— $730 
Service revenue27,398 16,625 44,024 
Total revenue$28,128 $16,625 $44,754 
Contract balances
The Company had immaterial amounts of contract assets included within prepaid expenses and other current assets on the consolidated balance sheets. The following table provides information about deferred revenue from contracts with customers, and customer deposits (in thousands):
June 30,
2025		December 31,
2024
Contract liabilities:  
Deferred revenue, current$28,128 $25,492 
Deferred revenue, long-term16,625 16,098 
Customer deposits, which are included in 'Other current liabilities'1,882 1,118 
Total contract liabilities$46,636 $42,708 
The following provides a roll-forward of the contract liabilities (in thousands):
Contract liabilities
Balance at December 31, 2023$39,265 
Revenue recognized(47,190)
Revenue deferred50,633 
Balance at December 31, 2024$42,708 
Revenue recognized(14,144)
Revenue deferred18,072 
Balance at June 30, 2025$46,636