v3.25.2
Research and Development Revenue
 6 Months Ended
Jun. 30, 2025
Research and Development Revenue [Abstract]  
RESEARCH AND DEVELOPMENT REVENUE

4. RESEARCH AND DEVELOPMENT REVENUE

 

For the three and six months ended June 30, 2025 and 2024, the Company’s revenues disaggregated by the major sources was as follows (in thousands):

 

   Three Months Ended June 30,   Six Months Ended June 30, 
   2025   2024   2025   2024 
BARDA  $4,649   $7,066   $11,030   $13,167 
Other U.S. governmental authorities   416    412    742    637 
Total revenue  $5,065   $7,478   $11,772   $13,804 

 

The following table presents the activity in the Company’s contract liabilities during the six months ended June 30, 2025:

 

   December 31,
2024
Balance		   Additions   Reductions   June 30,
2025
Balance		 
   (in thousands) 
Contract liabilities:                
Deferred revenue  $960   $3,615   $(4,151)  $424 
Total contract liabilities  $960   $3,615   $(4,151)  $424 

 

Research and Development Revenue

  

We receive funding from a contract by the DHA within the U.S. Department of Defense, which enables us to research and develop a fully portable, handheld version of our DeepView System and has been extended through the second quarter of 2025. We were previously awarded a $1.1 million Sequential Phase II STTR contract by the DHA within the U.S. Department of Defense, which is paid to us monthly, as well as a STTR Phase I and initial Phase II contract from the DHA.

  

Research and Development Expense

 

The Company expenses research and development costs as incurred. These expenses include salaries for research and development personnel, consulting fees, product development, pre-clinical studies, clinical trial costs, and other fees and costs related to the development of our technology. For the six months ended June 30, 2025 and 2024, research and development expense was $6.6 million and $9.7 million, respectively, of which $6.2 million and $7.5 million, respectively, is related to the combined BARDA contract and contracts with other U.S. governmental authorities and included in cost of revenue and $0.3 million and $2.2 million, respectively, is included in general and administrative expenses.