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Revenues
 12 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
The Company’s revenue is generated through the sale of synthetic biology tools, such as synthetic genes, oligo pools, NGS tools, DNA libraries and biopharma services for antibody discovery, optimization and development ("Biopharma").
Contract Balances
The following table summarizes our contract balances:
September 30,
(in thousands) 20252024
Contract assets(1)
$3,857 $2,031 
Contract liabilities(2)
6,884 2,131 
(1) Consists of unbilled amounts primarily related to Biopharma contracts which consists of research and development agreements with third parties.
(2) Consists of receipt of advance payments before our performance obligations related to revenue contracts are met.
Contracts with customers are in the written form of a purchase order or a quotation, which outline the promised goods and the agreed upon price. Such orders may be accompanied by a Master Supply or Distribution Agreement that establishes the terms and conditions, rights of the parties, delivery terms, and pricing. The
Company assesses collectability based on a number of factors, including past transaction history and creditworthiness of the customer.
Synthetic Genes, Oligo Pools, NGS Tools, and DNA Libraries
The Company recognizes revenue when control of the products is transferred to the customer and at a transaction price that is determined based on the agreed upon rates in the applicable order or master supply agreement applied to the quantity of synthetic DNA that was manufactured and shipped to the customer. The transaction price is determined based on the agreed upon rates in the quotation, the purchase order, or the master supply agreements applied to the quantity of all the products that were manufactured and shipped to the customer. The Company’s contracts may include one or more ordered products, and the shipment of these products comprises the performance obligation (s) under the contract. Accordingly, all of the transaction price, net of any discounts, is allocated to the performance obligation (s). The Company’s sales are primarily subject to Ex Works (as defined in Incoterms 2010) delivery terms and revenue, other than Biopharma revenue, is predominantly recorded at the point in time when products are picked up by the customer’s freight forwarder, as the Company has determined that this is the point in time that control transfers to the customer. The Company’s shipping and handling activities are considered a fulfillment cost. Shipping and handling fees charged to our customers are recognized as product revenue in the period shipped and the related costs for providing these services are recorded as a cost of revenue. The Company has elected to exclude all sales and value added taxes from the measurement of the transaction price. The Company has not adjusted the transaction price for significant financing since the time period between the transfer of goods and payment is less than one year. The Company has elected the practical expedient to not disclose the consideration allocated to remaining performance obligations and an explanation of when those amounts are expected to be recognized as revenue since the duration of the contracts is less than one year.
Biopharma
The Company’s Biopharma revenue primarily consists of research and development agreements with third parties that provide for up-front and milestone-based payments. The Company also enters into research and development agreements that do not include up-front or milestone-based payments and recognizes revenue on these types of agreements based on the timing of development activities. The Company’s research and development agreements may include more than one performance obligation. At the inception of the agreement, the Company assesses whether each obligation represents a separate performance obligation or whether such obligations should be combined as a single performance obligation. The transaction price for each agreement is determined based on the amount of consideration the Company expects to be entitled to for satisfying all performance obligations within the agreement. The Company assesses the nature of each performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue. In agreements where the Company satisfies performance obligation(s) over time, the Company recognizes development revenue typically using an input method based on costs incurred relative to the total expected cost which determines the extent of progress toward completion. As part of the accounting for these arrangements, the Company must develop estimates and assumptions that require judgment to determine the transaction price and progress towards completion. The Company reviews its estimate of the transaction price and progress toward completion based on the best information available to recognize the cumulative progress toward completion as of the end of each reporting period and makes revisions to such estimates as necessary. Also, these research and development agreements may include license payments. The Company recognizes revenue from functional license agreements when the license is transferred to the customer and the customer is able to use and benefit from the license. A functional license has significant standalone functionality because it can be used as is for performing a specific task.
For the years ended September 30, 2025, 2024 and 2023 the Company recognized revenue of $1.4 million, $1.7 million and $2.8 million, respectively, from the amount that was included in the contract liability balance at the beginning of each year.
In addition, for all periods presented, there was no revenue recognized in a reporting period from performance obligations satisfied in previous periods. The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied as of September 30, 2025 was $15.1 million. The Company expects to recognize revenue over the next twelve months relating to performance obligations unsatisfied as of September 30, 2025.
Based on the nature of the Company’s contracts with customers which are recognized over a term of less than 12 months, the Company has elected to use the practical expedient whereby costs to obtain a contract are
expensed as they are incurred. The Company states its revenues net of any taxes collected from customers that are required to be remitted to various government agencies. The amount of taxes collected from customers and payable to governmental entities is included on the balance sheet as part of “Accrued expenses and other current liabilities.”
Disaggregation of Revenues
The table below sets forth revenues by geographic region, based on ship-to destinations. Americas consists of the United States, Canada, Mexico and South America; EMEA consists of Europe, the Middle East, and Africa; and APAC primarily consists of Japan, China, South Korea, India, Singapore, Malaysia and Australia.
Year ended September 30,
(in thousands)202520242023
Americas$225,580 $193,884 $151,263 
EMEA124,240 92,567 71,389 
APAC26,752 26,523 22,457 
Total$376,572 $312,974 $245,109 
The table below sets forth revenues by products.
Year ended September 30,
(in thousands)202520242023
Synthetic genes$113,602 $92,679 $73,541 
Oligo pools20,230 16,906 14,489 
DNA libraries11,184 13,933 10,201 
Antibody discovery23,452 20,328 23,172 
NGS tools208,104 169,128 123,706 
Total$376,572 $312,974 $245,109 
The table below sets forth revenues by industry.
Year ended September 30,
(in thousands)202520242023
Industrial chemicals/materials$93,246 $83,472 $59,321 
Academic research65,861 58,452 45,847 
Healthcare215,092 168,959 137,148 
Food/agriculture2,373 2,091 2,793 
Total revenues$376,572 $312,974 $245,109 
Revenue from the United States represented 58%, 60% and 60% of the total revenue for the years ended September 30, 2025, 2024 and 2023, respectively.
Customer Concentration
There are no major customers who accounted for 10% or more of the Company’s revenue for the fiscal year ended September 30, 2025, September 30, 2024 and September 30, 2023.
There was one major customer who accounted for 10% or more of the net accounts receivable as of September 30, 2025. There were no major customers who accounted for 10% or more of the net accounts receivable as of September 30, 2024.