v3.26.1
Disaggregation of Revenue and Contract Liabilities
 3 Months Ended
Mar. 31, 2026
Disaggregation of Revenue and Contract Liabilities [Abstract]  
DISAGGREGATION OF REVENUE AND CONTRACT LIABILITIES

NOTE 3—DISAGGREGATION OF REVENUE AND CONTRACT LIABILITIES

 

Disaggregated Revenue

 

The Company disaggregates revenue from contracts with customers by contract type, as it believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company’s revenue by contract type is as follows:

 

   Three Months Ended March 31, 
   2026   2025 
Revenues        
OneTest  $310,103   $471,379 
BioCheck   21,547    56,967 
CLIAx   21,725    25,474 
Total revenues  $353,375   $553,820 

Contract Liabilities

 

Deferred revenue represents contract liabilities that are recorded when cash payments are received or are due in advance of the Company’s satisfaction of performance obligations. The deferred revenue as of March 31, 2026 and December 31, 2025 was $487,722 and $456,687, respectively, and are related to OneTest and royalties.

 

The following table provides information about contract liabilities from contracts with customers as of March 31, 2026 and December 31, 2025.

 

   March 31,
2026		   December 31,
2025		 
OneTest ‒ commercial clients  $386,667   $350,871 
OneTest ‒ individuals   64,000    64,000 
Royalty   37,055    41,816 
Total deferred revenue  $487,722   $456,687 
Less: current portion   (450,667)   (414,871)
Long-term deferred revenue  $37,055    41,816 

 

Significant changes in the contract liabilities balance during the period are as follows:

 

   Contract
Liabilities		 
Balance, December 31, 2025  $456,687 
Non-cancelable contracts with customers entered during the period   217,413 
Revenue recognized related to non-cancelable contracts with customers during the period   (186,378)
Balance, March 31, 2026  $487,722