Revenue and Geographic Area (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

The following tables present the Company's revenue for the three and six months ended June 30, 2026 and 2025 based on product type and the geographic location of customers’ facilities (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Product revenue:
Instruments	$	5,130	$	5,215	$	9,600	$	11,861
Consumables		9,385		10,458		20,369		18,593
Total product revenue		14,515		15,673		29,969		30,454
Services and other revenue		5,589		6,089		11,281		11,530
Total revenue	$	20,104	$	21,762	$	41,250	$	41,984


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Americas	$	7,646	$	8,689	$	15,394	$	15,756
Europe, Middle East and Africa (EMEA)		8,623		9,128		17,985		18,024
Asia-Pacific		3,835		3,945		7,871		8,204
Total revenue	$	20,104	$	21,762	$	41,250	$	41,984

Summary of the Change in Deferred Revenue

A summary of the change in deferred revenue is as follows (in thousands):


	Amount
Deferred revenue at December 31, 2025	$	42,452
Recognition of revenue from beginning deferred revenue balances		(5,671	)
Recognition of revenue attributed to discontinued operations(1)		(29,285	)
Revenue deferred during the period, net of revenue recognized		4,794
Deferred revenue at June 30, 2026	$	12,290

(1)

Deferred revenue related to the Collaboration Agreement with Illumina was fully recognized upon the sale of the Disposed Entities. The Company has classified this revenue within discontinued operations consistent with the treatment of all SomaScan Business-related activities. Please see Note 3, Discontinued Operations, for more information.

Schedule of Expected Timing of Revenue Recognition

The Company expects to recognize revenue from unfulfilled performance obligations associated with service contracts that were partially completed as of June 30, 2026 in the following periods (in thousands):


Fiscal Year	Expected Revenue (1)
2026 remainder of the year	$	6,328
2027		5,710
2028		2,887
Thereafter		2,179
Total	$	17,104

(1)

Expected revenue includes both billed amounts included in deferred revenue and unbilled amounts that are not reflected in the Company’s condensed consolidated financial statements and are subject to change if the Company’s customers decide to cancel or modify their contracts. Purchase orders for instrument service contracts can generally be canceled before the service period begins.