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Revenue
 6 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following table presents revenue by category:
Three Months Ended September 30,Six Months Ended September 30,
2024202320242023
Amount
% of Revenue
Amount
% of Revenue
Amount
% of Revenue
Amount
% of Revenue
(in thousands, except percentages)
Point in Time (1)
Personal genome service (“PGS”)$27,652 63 %$34,202 68 %$52,049 62 %$65,961 59 %
Telehealth4,890 11 %6,872 14 %9,929 12 %15,157 14 %
Consumer services32,542 74 %41,074 82 %61,978 74 %81,118 73 %
Research services— — %— — %344 — %2,353 2 %
Total$32,542 74 %$41,074 82 %$62,322 74 %$83,471 75 %
Over Time (1)
PGS$9,515 22 %$5,400 11 %$17,624 20 %$10,670 10 %
Telehealth1,533 3 %2,184 4 %3,141 4 %4,423 4 %
Consumer services11,048 25 %7,584 15 %20,765 24 %15,093 14 %
Research services481 1 %1,341 3 %1,398 2 %12,299 11 %
Total$11,529 26 %$8,925 18 %$22,163 26 %$27,392 25 %
 
Revenue by Category (1)
PGS$37,167 84 %$39,602 79 %$69,673 82 %$76,631 69 %
Telehealth6,423 15 %9,056 18 %13,070 16 %19,580 18 %
Consumer services43,590 99 %48,658 97 %82,743 98 %96,211 87 %
Research services481 1 %1,341 3 %1,742 2 %14,652 13 %
Total$44,071 100 %$49,999 100 %$84,485 100 %$110,863 100 %
(1)There was no Therapeutics revenue for the three and six months ended September 30, 2024 and 2023.
The following table summarizes revenue by region based on the shipping address of customers:
Three Months Ended September 30,Six Months Ended September 30,
2024202320242023
Amount
% of Revenue
Amount
% of Revenue
Amount
% of Revenue
Amount
% of Revenue
(in thousands, except percentages)
United States$38,671 88 %$42,185 84 %$73,956 88 %$85,511 77 %
United Kingdom1,968 4 %4,163 8 %4,092 5 %18,518 17 %
Canada2,402 5 %2,558 5 %4,417 5 %4,728 4 %
Other regions1,030 3 %1,093 3 %2,020 2 %2,106 2 %
Total$44,071 100 %$49,999 100 %$84,485 100 %$110,863 100 %
Breakage Revenue
The Company sells through multiple channels, including direct-to-consumer via the Company’s website and through online retailers. If the customer does not return the kit for processing, services cannot be completed by the Company, potentially resulting in unexercised rights (“breakage”) revenue. The Company recognized breakage revenue from unreturned kits of $5.4 million and $4.3 million for the three months ended September 30, 2024 and 2023, respectively, and $9.4 million and $8.9 million for the six months ended September 30, 2024 and 2023, respectively.
Contract Balances
Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts associated with contractual rights related to consideration for performance obligations in the Company's Research Services contracts and are included in prepaid expenses and other current assets on the condensed consolidated balance sheets. The amount of contract assets was immaterial as of September 30, 2024 and March 31, 2024.
Contract liabilities consist of deferred revenue. As of September 30, 2024 and March 31, 2024, deferred revenue for consumer services was $47.2 million and $52.3 million, respectively. Of the $52.3 million of deferred revenue for consumer services as of March 31, 2024, the Company recognized $10.8 million and $32.4 million as revenue during the three and six months ended September 30, 2024, respectively.
As of September 30, 2024 and March 31, 2024, deferred revenue for research services was $22.6 million and $22.5 million, respectively. As of September 30, 2024 and March 31, 2024, deferred revenue for research services included $21.7 million and $21.0 million, respectively, of related party deferred revenue. Of the $22.5 million of deferred revenue for research services as of March 31, 2024, the Company recognized $0.4 million and $1.4 million as revenue during the three and six months ended September 30, 2024, respectively, which included related party revenue of $0.3 million and $0.5 million for the three and six months ended September 30, 2024, respectively.
Remaining Performance Obligations
The transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that are expected to be billed and recognized as revenue in future periods. The Company has utilized the practical expedient available under ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”) to not disclose the value of unsatisfied performance obligations for PGS and telehealth as those contracts have an expected length of one year or less. As of September 30, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations for research services was $26.7 million. The Company expects to recognize revenue of approximately 86% of this amount over the next 12 months and the remainder thereafter. During the three and six months ended September 30, 2024 and 2023, revenue recognized for performance obligations satisfied in prior periods were immaterial.