Revenue Recognition

9 Months Ended

Sep. 30, 2024

Revenue From Contract With Customer [Abstract]

Revenue Recognition

12.Revenue Recognition

The following table provides information about disaggregated revenue by product and services:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Product sales, net	$	3,393	$	1,684	$	26,199	$	3,633
Services		1,292		1,427		3,857		4,062
License, royalty and other		4,611		675		6,032		2,964
Total net revenues	$	9,296	$	3,786	$	36,088	$	10,659

Net revenues include: (i) sales of biomaterial products, including Biovance, Biovance 3L, ReboundTM, Interfyl, and CentaFlex, of which our direct sales are included in Product Sales while sales through our network of distribution partners are included in License, royalty and other; and (ii) the collection, processing and storage of umbilical cord and placental blood and tissue after full-term pregnancies, collectively, Services.

The following table provides changes in deferred revenue from contract liabilities:

	2024			2023
Balance at January 1	$	6,020		$	4,492
Deferral of revenue(1)		3,931			4,579
Recognition of unearned revenue(2)		(3,619	)		(3,514	)
Balance at September 30	$	6,332		$	5,557

(1)Deferral of revenue includes $3,736 and $3,818 in 2024 and 2023, respectively, resulting from payments received in advance of performance under the biobanking services storage contracts that are recognized as revenue under the contract as performance is completed.

(2)Recognition of unearned revenue includes $2,271 and $2,274 that was included in the beginning deferred revenue balance at January 1, 2024 and 2023, respectively.