4. Deferred Revenue

There is no deferred revenue from the Genentech Agreement on the unaudited condensed consolidated balance sheet as of September 30, 2025. Deferred revenue from the Genentech Agreement represents $15.9 million and $25.4 million of the current and non-current deferred revenue balances, respectively, on the condensed consolidated balance sheet as of December 31, 2024.

We expect our current deferred revenue to be recognized as revenue within 12 months. We expect the majority of our non-current deferred revenue to be recognized as revenue over a period of approximately three years from September 30, 2025. This period of time represents an estimate of the ongoing sample testing for our customers' therapeutic development efforts.

Changes in deferred revenue during the nine months ended September 30, 2025 were as follows (in thousands):


Deferred revenue balance at December 31, 2024	$	82,945
Additions to deferred revenue during the period		46,659
Revenue recognized during the period		(87,061	)
Deferred revenue balance at September 30, 2025	$	42,543

As of September 30, 2025, $63.4 million was recognized as revenue that was included in the deferred revenue balance at December 31, 2024.