Revenue Recognition

9 Months Ended

Sep. 30, 2026

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Disaggregation of Revenue

The following table provides information about disaggregated revenue from contracts with customers by geographic regions. The geographic regions that are tracked are the Americas (United States, Canada, and Latin America), EMEA (Europe, Middle East, and Africa), and APAC (Australia, New Zealand, Southeast Asia, and China).

Disaggregated information is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Primary geographical markets:
APAC	$	13,886	$	6,062	$	30,957	$	14,178
EMEA	4,237		972		7,747		7,287
Americas	1,139		1,567		10,722		10,007
Total revenues	$	19,262	$	8,601	$	49,426	$	31,472

Contract Balances

The following table presents balances of unbilled receivables, contract assets, and contract liabilities (in thousands):

	September 30, 2026		December 31, 2025
Unbilled receivables	$	1,055	$	1,741
Contract assets	$	8,590	$	492
Contract liabilities: deferred revenue	$	735	$	7,369

We had no asset impairment charges related to financial assets in the three and nine months ended September 30, 2026 and 2025.

As of September 30, 2026, we have $0.6 million of short-term unbilled receivables presented as unbilled receivables within current assets and $0.5 million of long-term unbilled receivables that is included within the other non-current assets line item in the condensed consolidated balance sheets. As of December 31, 2025, we had $1.5 million of short-term unbilled receivables presented as unbilled receivables within current assets and $0.3 million of long-term unbilled receivables that is included within the other non-current assets line item in the condensed consolidated balance sheets.

We recognized the following revenues (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
Revenue recognized in the period for:	2026		2025		2026		2025
Amounts included in contract liabilities at the beginning of the period:
Performance obligations satisfied	$	686	$	—	$	6,827	$	250
Changes in the period:
Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods	—		—		(218)		(13)
Revenue recognized on performance obligations previously completed upon the customer achieving a milestone	2,750		—		2,750		4,700
Performance obligations satisfied from new activities in the period - contract revenue	15,826		8,601		40,067		26,535
Total revenues	$	19,262	$	8,601	$	49,426	$	31,472

Performance Obligations

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting periods. The estimated revenue does not include contracts with original durations of one year or less, amounts of variable consideration attributable to royalties, or contract renewals that are unexercised as of September 30, 2026.

The balances in the table below are partially based on judgments involved in estimating future orders from customers subject to the exercise of material rights pursuant to respective contracts as of September 30, 2026 (in thousands):

	Remainder of 2026		2027		2028		2029 and Thereafter		Total
Product revenue	$	100	$	—	$	—	$	—	$	100
Research and development revenue	468		167		—		—		635
Total revenues	$	568	$	167	$	—	$	—	$	735