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Revenue (Tables)
9 Months Ended
Sep. 30, 2025
Disaggregation of Revenue [Abstract]  
Schedule of Revenue Disaggregated by Customer Type

The following table presents the Company's revenue disaggregated by customer type (in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Pharma tests and services (1)

 

$

13,137

 

 

$

15,698

 

 

$

37,754

 

 

$

38,707

 

Enterprise sales

 

 

650

 

 

 

5,264

 

 

 

5,430

 

 

 

21,194

 

Population sequencing

 

 

234

 

 

 

4,431

 

 

 

7,755

 

 

 

7,211

 

Clinical diagnostic

 

 

384

 

 

 

271

 

 

 

1,161

 

 

 

583

 

Other

 

 

90

 

 

 

45

 

 

 

203

 

 

 

119

 

Total revenue

 

$

14,495

 

 

$

25,709

 

 

$

52,303

 

 

$

67,814

 

(1) Includes related party revenue of $1.1 million and $3.5 million for the three and nine months ended September 30, 2025,respectively.

Schedule of Contract Assets and Liabilities

The opening and closing balances of receivables and contract liabilities from contracts with customers are shown below (in thousands). Contract assets were immaterial for all periods presented.

 

 

September 30, 2025

 

 

December 31, 2024

 

Opening balances:

 

 

 

 

 

 

Accounts receivable, net

 

$

8,140

 

 

$

17,730

 

 

 

 

 

 

 

 

Short-term contract liabilities

 

$

3,100

 

 

$

3,288

 

Long-term contract liabilities (included in other long-term liabilities)

 

 

 

 

 

3,928

 

Total contract liabilities

 

$

3,100

 

 

$

7,216

 

 

 

 

 

 

 

 

Closing balances:

 

 

 

 

 

 

Accounts receivable, net

 

$

14,376

 

 

$

8,140

 

 

 

 

 

 

 

 

Short-term contract liabilities

 

 

1,457

 

 

 

3,100

 

Total contract liabilities

 

$

1,457

 

 

$

3,100