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Segment, customer, and geographic information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment, customer, and geographic information Segment, customer, and geographic information
The Company views its operations and makes decisions regarding how to allocate resources and manages its business as one reportable segment and one reporting unit. The Company’s Chief Executive Officer, Mr. Roderick de Greef, who is the CODM, reviews the Company’s operations on a consolidated basis for purposes of allocating resources and evaluating financial performance. As a single reportable segment entity, the Company’s segment performance measure is consolidated net (loss) income from continuing operations.

Significant segment expenses are presented in the Company’s Consolidated Statements of Operations. Additional significant segment expenses that are not separately presented in the Company’s Consolidated Statements of Operations include Shared-based compensation and Depreciation expense. These are presented in the Consolidated Statement of Cash Flows, and Note 14: Stock-based compensation, Note 8: Assets held for rent, and Note 9: Property and equipment.

Other expense items not individually significant in net (loss) income from continuing operations are changes in inventory values due to changes in its carrying basis, costs associated with the Company’s acquisitions and or divestitures in the period these take place, and gain or loss on disposal of fixed assets. The information provided to the Company’s CODM for purposes of making decisions and assessing segment performance excludes asset information.
Concentrations of risk
Significant customers are those that represent more than 10% of the Company’s total revenue or gross accounts receivable balances for the periods and as of each balance sheet date presented. For each significant customer, revenue as a percentage of total revenue and gross accounts receivable as a percentage of total gross accounts receivable as of the periods presented were as follows:
Accounts ReceivableRevenue
December 31,Years Ended December 31,
20242023202420232022
Customer A18 %*15 %14 %18 %
Customer B21 %13 %13 %11 %14 %
*less than 10%
The following is a summary of revenue by major product family representing over 10% of the Company's total revenue:
Years Ended December 31,
Revenue by major product202420232022
CryoStor73 %73 %77 %
The following table represents the Company’s total revenue by geographic area (based on the location of the customer):
Years Ended December 31,
Revenue by customers’ geographic locations(1)
202420232022
United States75 %82 %82 %
Europe, Middle East, Africa (EMEA)19 %12 %12 %
Other6 %6 %6 %
Total revenue100 %100 %100 %
(1) During the year ended December 31, 2023, the Company updated its methodology for determining the country of origin for its sales. Sales are now recorded by shipping country rather than billing country. The Company updated the methodology retrospectively, adjusting the prior year presentation for all regions presented.
All of the Company's long-lived assets, totaling $22.9 million, are located within the United States.
In the year ended December 31, 2024, no suppliers accounted for more than 10% of purchases. In the years ended December 31, 2023, and 2022, one supplier accounted for 20% and 16% of purchases, respectively.
As of December 31, 2024, no suppliers accounted for more than 10% of accounts payable. As of December 31, 2023, one supplier accounted for 17% of accounts payable. No other suppliers accounted for more than 10% of our accounts payable.