v3.26.1
Disaggregation of Revenue and Contract Liabilities
 6 Months Ended
Jun. 30, 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
June 30,		  
    2026     2025  
Revenues            
OneTest   $ 695,947     $ 473,174  
BioCheck     34,624       40,869  
CLIAx     -       21,017  
Total revenues   $ 730,571     $ 535,060  

 

    Six Months Ended
June 30,		  
    2026     2025  
Revenues            
OneTest   $ 1,006,050     $ 944,553  
BioCheck     56,171       97,836  
CLIAx     21,725       46,491  
Total revenues   $ 1,083,946     $ 1,088,880  

 

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 June 30, 2026 and December 31, 2025 was $499,957 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 June 30, 2026 and December 31, 2025.

 

    June 30,
2026		     December 31,
2025		  
OneTest ‒ commercial clients   $ 375,233     $ 350,871  
OneTest ‒ individuals     91,800       64,000  
Royalty     32,924       41,816  
Total deferred revenue   $ 499,957     $ 456,687  
Less current portion     (467,033 )     (414,871 )
Long-term deferred revenue   $ 32,924       41,816  

 

Significant changes in the contract liabilities balance during the six months ended June 30, 2026 are as follows:

 

    Contract
Liabilities		  
Balance, December 31, 2025   $ 456,687  
Non-cancelable contracts with customers entered during the period     1,009,112  
Revenue recognized related to non-cancelable contracts with customers during the period     (965,842 )
Balance, June 30, 2026   $ 499,957