Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2024

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,
	2024		2023		2022
Sales channel mix
Direct sales channel	$	149,874	$	147,169	$	129,098
Distributor channel	50,579		45,846		34,938
Total revenue, net	$	200,453	$	193,015	$	164,036
Customer mix
Academia and government	$	80,911	$	82,145	$	73,706
Biotechnology, pharmaceutical, distributor and contract research organizations	119,542		110,870		90,330
Total revenue, net	$	200,453	$	193,015	$	164,036

Revenue by geographical markets is presented in Note 22, Segment Information and Geographic Data.

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, 2024 (in thousands):

	Less than 1 year		Greater than 1 year		Total
Product revenue	$	1,123	$	—	$	1,123
Service revenue	24,369		16,098		40,467
Total revenue	$	25,492	$	16,098	$	41,590

Contract balances

The Company had immaterial amounts of contract assets included within prepaid expenses and other current assets on the consolidated balance sheets. The following table provides information about deferred revenue from contracts with customers, and customer deposits (in thousands):

	December 31, 2024		December 31, 2023
Contract liabilities:
Deferred revenue, current	$	25,492	$	22,695
Deferred revenue, long-term	$	16,098	$	15,132
Customer deposits, which are included in 'Other current liabilities'	1,118		1,438
Total contract liabilities	$	42,708	$	39,265

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

Contract liabilities
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
Revenue recognized	(47,190)
Revenue deferred	50,633
Balance at December 31, 2024	$	42,708