Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2023

Revenue from Contracts with Customer [Abstract]

Revenue from contracts with customers

Note 4 – Revenue from contracts with customers

Disaggregated revenue

The Company provides diagnostic test products and laboratory services to hospitals, clinical laboratories and other healthcare providing customers, and enters into collaboration agreements with government agencies, non-governmental organizations, and healthcare providers. The revenues by type of service consist of the following:

	Three Months Ended March 31,
	2023		2022
Product sales	$	410,897	$	366,052
Laboratory services		21,673		42,929
Collaboration revenue		480,874		60,764
Total revenue	$	913,444	$	469,745

Revenues by geography are as follows:

	Three Months Ended March 31,
	2023		2022
Domestic	$	114,949	$	156,410
International		798,495		313,335
Total revenue	$	913,444	$	469,745

Deferred revenue

Changes in deferred revenue for the period were as follows:

Balance at December 31, 2022	$	142,061
Contracts with customers		45,577
Recognized in the current period		(143,506	)
Currency translation adjustment		1,871
Balance at March 31, 2023	$	46,003

Contract assets

The Company had no contract assets as of March 31, 2023 and December 31, 2022, which are generated when contractual billing schedules differ from revenue recognition timing. Contract assets represent a conditional right to consideration for satisfied performance obligations that becomes a billed receivable when the conditions are satisfied.

Unsatisfied performance obligations

The Company had no unsatisfied performance obligations related to its contracts with customers at March 31, 2023 and December 31, 2022.