| Revenue recognition |
Revenue recognition The following tables present disaggregated revenues: | | | | | | | | | | | | | | | | | | | Three months ended | | | | | | | | March 31,
2026 | | February 23,
2025 | | | | | | | | CDMO | $ | 15,775 | | | $ | 20,789 | | | | | | | | | HA manufacturing | 7,418 | | | 14,365 | | | | | | | | | Total | $ | 23,193 | | | $ | 35,154 | | | | | | | | | | | | | | | | | | | Revenues recognized over time | $ | 4,223 | | | $ | 5,505 | | | | | | | | | Revenues recognized at a point in time | 18,970 | | | 29,649 | | | | | | | | | Total | $ | 23,193 | | | $ | 35,154 | | | | | | | |
During the three months ended March 31, 2026, the Company had revenue concentrations of 10% or greater from two customers, with those customers comprising 39% and 22% of revenue. During the three months ended February 23, 2025, the Company had revenue concentrations of 10% or greater from two customers, with those customers comprising 54% and 18% of revenue. The following table presents changes in contract assets and liabilities: | | | | | | | | | | | | | | | Contract assets | | Contract liabilities | | | | Balance at December 31, 2025 | $ | 7,655 | | | $ | (8,660) | | | | Changes to the beginning balance arising from: | | | | | | Amounts billed as accounts receivable as the result of rights to consideration becoming unconditional | (5,067) | | | — | | | | Recognition of revenue as the result of performance obligations satisfied | — | | | 3,109 | | | | | | | | | | Net change to contract balances recognized after the comparative balance sheet date due to amounts billed, recognition of revenue, changes in estimate, and interest from significant financing component | 4,861 | | | (313) | | | | | Balance at March 31, 2026 | $ | 7,449 | | | $ | (5,864) | | | |
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