v3.25.4
Revenue (Tables)
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Summary of Changes in Balances of Receivables and Contract Liability The following table presents changes in the balances of receivables and contract liabilities related to revenue generating agreements during the year ended December 31, 2025:

 

(in thousands)

 

December 31, 2024

 

 

Additions

 

 

Deductions

 

 

December 31, 2025

 

Contract Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

3,974

 

 

$

57,200

 

 

$

(55,610

)

 

$

5,564

 

Contract Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

32,118

 

 

$

57,823

 

 

$

(81,695

)

 

$

8,246

 

Schedule of Revenue

The following table summarizes the Company’s revenue for the periods indicated. Approximately $67.1 million, $138.4 million and $154.9 million of total revenue represents revenue derived from foreign countries for the years ended December 31, 2025, 2024 and 2023, respectively.

 

For the Year Ended December 31,

 

(in thousands)

2025

 

 

2024

 

 

2023

 

Collaboration revenue:

 

 

 

 

 

 

 

 

 

CSL Seqirus

$

65,982

 

 

$

138,389

 

 

$

154,264

 

Ultragenyx

 

 

 

 

 

 

 

1,837

 

Other

 

 

1,239

 

 

 

 

 

 

1,647

 

Total collaboration revenue

 

$

67,221

 

 

$

138,389

 

 

$

157,748

 

Grant revenue:

 

 

 

 

 

 

 

 

 

BARDA

 

$

13,236

 

 

$

13,921

 

 

$

9,051

 

Gates Foundation

 

$

1,574

 

 

$

 

 

$

 

Total grant revenue

$

14,810

 

 

$

13,921

 

 

$

9,051

 

Schedule of Accounts Receivable

Accounts receivable is comprised of the following as of December 31, 2025 and 2024:

 

 

 

December 31,

 

(in thousands)

 

2025

 

 

2024

 

Billed accounts receivable

 

$

1,957

 

 

$

1,472

 

Unbilled accounts receivable

 

 

3,607

 

 

 

2,502

 

Total accounts receivable

 

$

5,564

 

 

$

3,974