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Revenue
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue
6.
Revenue

The following table presents the Company’s revenue by end customer geography for the three months ended March 31 (in millions):

 

 

2025

 

 

2024

 

United States

 

$

217.4

 

 

$

194.8

 

Germany

 

 

61.1

 

 

 

66.8

 

Rest of Europe

 

 

224.1

 

 

 

178.1

 

China

 

 

101.2

 

 

 

115.7

 

Rest of Asia Pacific

 

 

131.4

 

 

 

107.0

 

Other

 

 

66.2

 

 

 

59.3

 

Total revenue

 

$

801.4

 

 

$

721.7

 

The following table presents revenue for the Company recognized at a point in time versus over time for the three months ended March 31 (in millions):

 

 

 

2025

 

 

2024

 

Revenue recognized at a point in time

 

$

678.7

 

 

$

608.5

 

Revenue recognized over time

 

 

122.7

 

 

 

113.2

 

Total revenue

 

$

801.4

 

 

$

721.7

 

 

As of the three months ended March 31, 2025 and the year ended December 31, 2024 the following balances were associated with revenue (in millions):

 

 

 

March 31,
2025

 

 

December 31,
2024

 

Contract assets

 

$

109.1

 

 

$

105.2

 

Contract liabilities (a)

 

 

575.9

 

 

 

538.2

 

Remaining performance obligations (b)

 

$

2,072.0

 

 

$

2,090.4

 
a)
Approximately $143.0 million of the contract liability balance on December 31, 2024, was recognized as revenue during the three months ended March 31, 2025.
b)
Bruker’s mix of remaining performance obligations, or backlog, consists of firm orders under non-cancelable purchase orders received from customers and the timing of revenue recognition can vary significantly due to a variety of factors. Bruker manufactures innovative scientific instruments and diagnostic solutions which can result in varying production and installation timing due to components, customization, manufacturing, assembly, testing processes, and customer site availability or readiness. Bruker’s expected completion of performance obligation can vary from year to year based on these and other factors. As a result, backlog on any particular date can be indicative of Bruker’s short-term revenue performance but is not necessarily a reliable indicator of long-term revenue performance. The Company will recognize revenues for these performance obligations as they are satisfied, the majority of which is expected to occur within the next twelve months.

Lease Revenue

The Company’s right to future consideration from reagent purchases under the reagent agreements is allocated to instrument revenue and is recorded as a lease receivable within other current and long-term assets. Agreements that do not meet the criteria to be classified as a sales-type lease are classified as operating leases. Lease revenue is presented in product revenue in the consolidated statements of operations and consisted of less than 2% of total consolidated revenue in each of the three months ended March 31, 2025 and 2024 respectively.