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Collaborations and Other Arrangements (Tables)
3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Changes in Accounts Receivable and Contract Liabilities

The following table presents changes in the Company’s accounts receivable and contract liabilities (in thousands):

 

 

Balance at
Beginning of
Period

 

 

Additions

 

 

Deductions

 

 

Balance at End
of Period

 

Three months ended March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

8,517

 

 

$

10,203

 

 

$

(8,216

)

 

$

10,504

 

Contract liabilities - deferred revenue

 

$

38,917

 

 

$

-

 

 

$

(5,095

)

 

$

33,822

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at
Beginning of
Period

 

 

Additions

 

 

Deductions

 

 

Balance at End
of Period

 

Three months ended March 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

36,456

 

 

$

5,872

 

 

$

(5,901

)

 

$

36,427

 

Contract liabilities - deferred revenue

 

$

60,993

 

 

$

-

 

 

$

(5,369

)

 

$

55,624

 

 

Summary of Revenues Recognized Resulting from Changes in Contract Liability Balance

The Company recognized the following revenues as a result of changes in the contract liability balance (in thousands):

 

 

Three Months Ended March 31,

 

Revenue recognized in the period from:

 

2025

 

 

2024

 

Amounts included in the contract liability at the beginning of the period

 

$

5,095

 

 

$

5,369