Revenue Recognition

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

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, Rebound^TM, 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.

14. Revenue Recognition

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

	Year Ended December 31,
	2023		2022
Product sales and rentals	$	13,149	$	3,749
Services		5,441		5,512
License, royalty and other		4,181		8,714
Net revenues	$	22,771	$	17,975

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

	2023			2022
Balance at January 1	$	4,492		$	4,067
Deferral of revenue*		6,266			5,004
Recognition of unearned revenue		(4,738	)		(4,579	)
Balance at December 31	$	6,020		$	4,492

* Deferral of revenue resulted 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. Also includes up-front payment incurred in connection with signing of the Regeneron Services Agreement in August 2023 (see Note 15 below).