Revenue and Geographic Area (Tables)

9 Months Ended

Sep. 30, 2026

Revenue from Contract with Customer [Abstract]

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Product revenue:
Instruments	$	5,998	$	5,095	$	15,598	$	16,956
Consumables		8,330		8,705		28,699		27,298
Total product revenue		14,328		13,800		44,297		44,254
Services and other revenue		5,057		5,752		16,338		17,282
Total revenue	$	19,385	$	19,552	$	60,635	$	61,536


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Americas	$	7,818	$	7,842	$	23,212	$	23,598
Europe, Middle East and Africa (EMEA)		8,035		7,245		26,020		25,269
Asia-Pacific		3,532		4,465		11,403		12,669
Total revenue	$	19,385	$	19,552	$	60,635	$	61,536

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		(7,183	)
Recognition of revenue attributed to discontinued operations(1)		(29,285	)
Revenue deferred during the period, net of revenue recognized		5,932
Deferred revenue at September 30, 2026	$	11,916

(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 September 30, 2026 in the following periods (in thousands):


Fiscal Year	Expected Revenue (1)
2026 remainder of the year	$	3,448
2027		7,115
2028		3,459
Thereafter		2,656
Total	$	16,678

(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.