Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue from contracts with customers

Revenue from contracts with customers

Disaggregation of revenue

The following table depicts the disaggregation of revenue by sales channel mix and customer mix as defined by the nature of workflows (in thousands):

	Year Ended December 31,
	2023		2022		2021
Sales channel mix
Direct sales channel	$	147,169	$	129,098	$	110,520
Distributor channel	45,846		34,938		17,430
Total revenue, net	$	193,015	$	164,036	$	127,950
Customer mix
Academia and government	$	82,145	$	73,706	$	59,415
Biotechnology, pharmaceutical, distributor and contract research organizations	110,870		90,330		68,535
Total revenue, net	$	193,015	$	164,036	$	127,950

Revenue by geographical markets is presented in Note 22, Geographic areas.

Remaining performance obligations

The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of December 31, 2023 (in thousands):

	Less than 1 year		Greater than 1 year		Total
Product revenue	$	1,336	$	—	$	1,336
Service revenue	21,359		15,132		36,491
Total revenue	$	22,695	$	15,132	$	37,827

Contract balances

The following table provides information about receivables, deferred revenue from contracts with customers, and customer deposits (in thousands):

	December 31, 2023		December 31, 2022
Trade accounts receivable	$	55,928	$	48,864
Contract liabilities:
Deferred revenue	$	37,827	$	26,110
Customer deposits, which are included in 'Other current liabilities'	1,438		1,555
Total contract liabilities	$	39,265	$	27,665

The following provides a roll-forward of the contract liabilities (in thousands):

Contract liabilities
Balance at December 31, 2020	$	7,745
Revenue recognized	(15,008)
Revenue deferred	25,152
Balance at December 31, 2021	$	17,889
Revenue recognized	(24,686)
Revenue deferred	34,462
Balance at December 31, 2022	$	27,665
Revenue recognized	(36,298)
Revenue deferred	47,898
Balance at December 31, 2023	$	39,265