Segment, customer, and geographic information

3 Months Ended

Mar. 31, 2025

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 Condensed Consolidated Statements of Operations. Additional significant segment expenses that are not separately presented in the Company’s Condensed Consolidated Statements of Operations include Shared-based compensation and Depreciation expense. These are presented in the Condensed Consolidated Statement of Cash Flows, and Note 14: Stock-based compensation, Note 7: Assets held for rent, and Note 8: Property and equipment.

Other expense items not individually significant in net loss from continuing operations are changes in inventory values due to changes in its carrying basis, costs associated with the Company’s acquisitions 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 Receivable				Revenue
	March 31,		December 31,		Three Months Ended March 31,
	2025		2024		2025		2024
Customer A	18	%	*		*		*
Customer B	*		18	%	18	%	19	%
Customer C	*		21	%	11	%	*
Customer D	13	%	*		*		*

*less than 10%

The following is a summary of revenue by major product family representing over 10% of the Company's total revenue:

	Three Months Ended March 31,
Product revenue concentration	2025		2024
CryoStor	77	%	73	%

The following table represents the Company’s total revenue by geographic area (based on the location of the customer):

	Three Months Ended March 31,
Revenue by customers’ geographic locations	2025		2024
United States	81	%	81	%
Europe, Middle East, Africa (EMEA)	14	%	14	%
Other	5	%	5	%
Total revenue	100	%	100	%

All of the Company's long-lived assets, totaling $22.4 million as of March 31, 2025, are located within the United States. Though the Company's evo shippers under rental arrangements may be outside of the United States, all are shipped back to our United States warehouse upon completion of the applicable rental arrangement.

In the three months ended March 31, 2025 and 2024, no suppliers accounted for more than 10% of purchases.

As of March 31, 2025, three different suppliers accounted for 17%, 16%, and 11% of accounts payable. As of December 31, 2024, no suppliers accounted for more than 10% of accounts payable.