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Revenue and Related Matters
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue and Related Matters
Note 5. Revenue and Related Matters
Revenue from Contracts with Customers
The Company’s customers primarily consist of entities engaged in the life sciences research that pursue the discovery and development of new drugs for a variety of neurologic, oncologic, cardiovascular, infectious disease, and other protein biomarkers associated with diseases. The Company’s customer base includes pharmaceutical, biotechnology, contract research organizations, academic, and government institutions.
Disaggregated Revenue
When disaggregating revenue, the Company considers all of the economic factors that may affect its revenues. The following tables disaggregate the Company’s revenue by geography, based on the location products and services are consumed, and revenue type (in thousands):
Year Ended December 31, 2025
North AmericaEMEAAsia PacificTotal
Product revenue:
Instruments $7,039 $5,007 $5,814 $17,860 
Consumable and other products 42,049 23,661 9,371 75,081 
Total product revenue$49,088 $28,668 $15,185 $92,941 
Service and other revenue:
Research services $23,677 $1,799 $505 $25,981 
Service-type warranties 6,270 3,844 1,028 11,142 
Other services 4,508 2,405 176 7,089 
Total service and other revenue$34,455 $8,048 $1,709 $44,212 
Collaboration and license revenue:$1,571 $— $(70)$1,501 
Total collaboration and license revenue$1,571 $— $(70)$1,501 
Year Ended December 31, 2024
North AmericaEMEAAsia PacificTotal
Product revenue:
Instruments$3,924 $3,857 $2,699 $10,480 
Consumable and other products39,794 20,760 8,706 69,260 
Total product revenue$43,718 $24,617 $11,405 $79,740 
Service and other revenues:
Research services$31,252 $5,833 $913 $37,998 
Service-type warranties6,319 3,490 798 10,607 
Other services1,618 976 45 2,639 
Total service and other revenue$39,189 $10,299 $1,756 $51,244 
Collaboration and license revenue:$3,681 $— $771 $4,452 
Total collaboration and license revenue$3,681 $— $771 $4,452 
Year Ended December 31, 2023
North AmericaEMEAAsia PacificTotal
Product revenue:
Instruments$6,374 $4,384 $4,947 $15,705 
Consumable and other products35,122 21,216 7,627 63,965 
Total product revenue$41,496 $25,600 $12,574 $79,670 
Service and other revenue:
Research services$24,706 $2,000 $1,122 $27,828 
Service-type warranties6,265 3,001 613 9,879 
Other services1,436 951 (5)2,382 
Total service and other revenue$32,407 $5,952 $1,730 $40,089 
Collaboration and license revenue:$1,380 $— $— $1,380 
Total collaboration and license revenue$1,380 $— $— $1,380 
The following table disaggregates the Company’s revenue by technology type (in thousands):
Year Ended December 31,
202520242023
Product revenue:
Simoa$71,034 $79,740 $79,670 
Spatial Biology21,907 — — 
Total product revenue$92,941 $79,740 $79,670 
Service and other revenue:
Simoa$32,388 $51,244 $40,089 
Spatial Biology11,824 — — 
Total service and other revenue$44,212 $51,244 $40,089 
All of the Company's collaboration and license revenue was generated by Simoa technology.
Contract Assets
There were no contract assets as of December 31, 2025 or 2024.
Deferred Revenue
During the years ended December 31, 2025 and 2024, the Company recognized $6.5 million and $7.9 million of revenue, respectively, related to its deferred revenue balance at January 1 of each such period.
Remaining Performance Obligations
As of December 31, 2025, the aggregate amount of transaction prices allocated to performance obligations that were not yet satisfied, or were partially satisfied, was $26.6 million. Of this amount $20.7 million is expected to be recognized as revenue in the next 12 months, with the remaining $5.8 million expected to be recognized thereafter. The $5.8 million primarily consists of amounts billed for undelivered services related to extended service-type warranties and research services.