v3.26.1
Revenue (Tables)
6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Summary of Changes in Balances of Receivables and Contract Liability

The following table presents changes during the six months ended June 30, 2026 in the balances of contract assets and liabilities as compared to what was disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

 

(in thousands)

 

December 31, 2025

 

 

Additions

 

 

Deductions

 

 

June 30, 2026

 

Contract Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

5,564

 

 

$

3,111

 

 

$

(6,862

)

 

$

1,813

 

Contract Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

8,246

 

 

$

3,050

 

 

$

(5,020

)

 

$

6,276

 

Schedule of Revenue

The following table summarizes the Company’s revenues for the periods indicated.

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

(in thousands)

2026

 

 

2025

 

 

2026

 

 

2025

 

Collaboration Revenue:

 

 

 

 

 

 

 

 

 

 

 

CSL Seqirus

 

$

874

 

 

$

24,427

 

 

$

1,484

 

 

$

49,900

 

Other collaboration revenue

 

 

6

 

 

 

83

 

 

 

6

 

 

 

87

 

Total collaboration revenue

 

$

880

 

 

$

24,510

 

 

$

1,490

 

 

$

49,987

 

Grant revenue:

 

 

 

 

 

 

 

 

 

 

 

 

BARDA

 

$

1,369

 

 

$

3,791

 

 

$

2,259

 

 

$

7,696

 

Gates Foundation

 

 

710

 

 

 

 

 

 

1,271

 

 

 

 

Total grant revenue

$

2,079

 

 

$

3,791

 

 

$

3,530

 

 

$

7,696