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Revenue
 9 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following table presents revenue by category:
Three Months Ended December 31,Nine Months Ended December 31,
2024202320242023
Amount
% of Revenue
Amount
% of Revenue
Amount
% of Revenue
Amount
% of Revenue
(in thousands, except percentages)
Point in Time
Personal genome service (“PGS”)$23,014 38 %$29,241 65 %$75,063 52 %$95,202 61 %
Telehealth4,832 8 %5,894 13 %14,761 10 %21,051 14 %
Consumer services27,846 46 %35,135 78 %89,824 62 %116,253 75 %
Research services20,060 33 %1,506 3 %20,404 14 %3,859 2 %
Total$47,906 79 %$36,641 81 %$110,228 76 %$120,112 77 %
Over Time
PGS$10,253 17 %$5,835 13 %$27,877 19 %$16,505 11 %
Telehealth1,533 3 %1,928 4 %4,674 4 %6,350 4 %
Consumer services11,786 20 %7,763 17 %32,551 23 %22,855 15 %
Research services570 1 %343 1 %1,968 1 %12,643 8 %
Total$12,356 21 %$8,106 18 %$34,519 24 %$35,498 23 %
 
Revenue by Category
PGS$33,267 55 %$35,076 78 %$102,940 71 %$111,707 72 %
Telehealth6,365 11 %7,822 18 %19,435 14 %27,401 17 %
Consumer services39,632 66 %42,898 96 %122,375 85 %139,108 89 %
Research services20,630 34 %1,849 4 %22,372 15 %16,502 11 %
Total$60,262 100 %$44,747 100 %$144,747 100 %$155,610 100 %
The following table summarizes revenue by region based on the shipping address of customers:
Three Months Ended December 31,Nine Months Ended December 31,
2024202320242023
Amount
% of Revenue
Amount
% of Revenue
Amount
% of Revenue
Amount
% of Revenue
(in thousands, except percentages)
United States$36,236 60 %$39,217 88 %$110,192 76 %$124,728 80 %
United Kingdom21,459 36 %2,139 5 %25,551 18 %20,657 13 %
Canada1,598 3 %2,382 5 %6,015 4 %7,110 5 %
Other regions969 1 %1,009 2 %2,989 2 %3,115 2 %
Total$60,262 100 %$44,747 100 %$144,747 100 %$155,610 100 %
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 $4.4 million and $4.4 million for the three months ended December 31, 2024 and 2023, respectively, and $13.8 million and $13.4 million for the nine months ended December 31, 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 December 31, 2024 and March 31, 2024.
Contract liabilities consist of deferred revenue. As of December 31, 2024 and March 31, 2024, deferred revenue for consumer services was $59.8 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 $6.5 million and $38.9 million as revenue during the three and nine months ended December 31, 2024, respectively.
As of December 31, 2024 and March 31, 2024, deferred revenue for research services was $3.1 million and $22.5 million, respectively. As of December 31, 2024 and March 31, 2024, deferred revenue for research services included $2.0 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 $19.8 million and $21.2 million as revenue during the three and nine months ended December 31, 2024, respectively, which included related party revenue of $19.7 million and $20.2 million for the three and nine months ended December 31, 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 December 31, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations for research services was $7.2 million. The Company expects to recognize revenue of approximately 51% of this amount over the next 12 months and the remainder thereafter. During the three and nine months ended December 31, 2024 and 2023, revenue recognized for performance obligations satisfied in prior periods were immaterial.