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Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The Company operates as a single reportable segment. The Company has one sales force that sells the Company’s nCounter Analysis systems, its GeoMx DSP system, its CosMx SMI system, and the consumables and services related to these platforms.
Disaggregated Revenues
The following table of total revenue is based on the geographic location of end users or distributors who purchase products and services, and of our collaborators. For sales to distributors, their geographic location may be different from the geographic location of the ultimate end customer. For collaboration agreements, revenues are derived from partners located primarily in the United States. Americas consists of the United States, Canada, Mexico, and South America; and Asia Pacific includes Japan, China, South Korea, Singapore, Malaysia, India, and Australia.
The following table provides information about disaggregated revenue by major product line and primary geographic market (in thousands):
Three Months Ended September 30, 2022Nine Months Ended September 30, 2022
AmericasEurope and Middle EastAsia PacificTotalAmericasEurope and Middle EastAsia PacificTotal
Product revenue:
Instruments$4,835 $2,171 $1,017 $8,023 $16,343 $6,132 $4,189 $26,664 
Consumables12,044 3,687 851 16,582 37,017 11,778 3,102 51,897 
Total product revenue16,879 5,858 1,868 24,605 53,360 17,910 7,291 78,561 
Service revenue3,362 1,259 240 4,861 9,589 3,486 669 13,744 
Total product and service revenue20,241 7,117 2,108 29,466 62,949 21,396 7,960 92,305 
Collaboration revenue75 — — 75 535 — — 535 
Total revenues$20,316 $7,117 $2,108 $29,541 $63,484 $21,396 $7,960 $92,840 
Three Months Ended September 30, 2021Nine Months Ended September 30, 2021
AmericasEurope and Middle EastAsia PacificTotalAmericasEurope and Middle EastAsia PacificTotal
Product revenue:
Instruments$8,514 $3,827 $2,154 $14,495 $21,650 $10,230 $6,176 $38,056 
Consumables13,120 3,682 1,226 18,028 36,928 11,538 3,506 51,972 
Total product revenue21,634 7,509 3,380 32,523 58,578 21,768 9,682 90,028 
Service revenue2,957 1,149 295 4,401 8,138 3,010 774 11,922 
Total product and service revenue24,591 8,658 3,675 36,924 66,716 24,778 10,456 101,950 
Collaboration revenue226 — — 226 680 — — 680 
Total revenues$24,817 $8,658 $3,675 $37,150 $67,396 $24,778 $10,456 $102,630 
Total revenue in the United States was $19.0 million, $23.9 million, $60.9 million and $65.0 million for the three and nine month periods ended September 30, 2022 and 2021, respectively. The Company’s assets are primarily located in the United States and therefore are not allocated to any specific geographic region.
Contract balances and remaining performance obligations
Contract liabilities are comprised of the current and long-term portions of deferred revenue of $11.4 million and $10.3 million as of September 30, 2022 and December 31, 2021, respectively, and customer deposits of $1.1 million and $1.3 million as of September 30, 2022 and December 31, 2021, respectively, included within the condensed consolidated balance sheets. Total contract liabilities increased by $0.8 million as of September 30, 2022 as a result of additional deferred revenue of $9.6 million associated primarily with new or extended service contracts partially offset by the recognition of previously deferred revenue and customer deposits of $8.8 million for the completion of certain performance obligations during the period. The Company recorded contract assets of $1.0 million and $0.7 million as of September 30, 2022 and December 31, 2021, related to revenues recognized, but not yet invoiced to customers. The Company’s contractual payment terms for its contracts with customers approximates 45 days on average.
As of September 30, 2022, unsatisfied or partially unsatisfied performance obligations related to undelivered products and service contracts were $12.5 million and are expected to be completed over the term of the related contract or as products are delivered.