XML 36 R28.htm IDEA: XBRL DOCUMENT v3.25.3
Revenue and Geographic Area (Tables)
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue

The following tables present the Company's revenue for the three and nine months ended September 30, 2025 and 2024 based on product type and the geographic location of customers’ facilities (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Product revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Instruments

 

$

5,095

 

 

$

5,271

 

 

$

16,956

 

 

$

17,221

 

Consumables

 

 

8,705

 

 

 

10,508

 

 

 

27,298

 

 

 

29,766

 

Total product revenue

 

 

13,800

 

 

 

15,779

 

 

 

44,254

 

 

 

46,987

 

Services and other revenue

 

 

5,752

 

 

 

6,307

 

 

 

17,282

 

 

 

19,244

 

Total revenue

 

$

19,552

 

 

$

22,086

 

 

$

61,536

 

 

$

66,231

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Americas

 

$

7,842

 

 

$

9,760

 

 

$

23,598

 

 

$

27,367

 

Europe, Middle East and Africa

 

 

7,245

 

 

 

8,878

 

 

 

25,269

 

 

 

26,207

 

Asia-Pacific

 

 

4,465

 

 

 

3,448

 

 

 

12,669

 

 

 

12,657

 

Total revenue

 

$

19,552

 

 

$

22,086

 

 

$

61,536

 

 

$

66,231

 

 

Summary of the Change in Deferred Revenue

A summary of the change in deferred revenue is as follows (in thousands):

 

 

 

Amount

 

Deferred revenue at December 31, 2024

 

$

42,948

 

Recognition of revenue from beginning deferred revenue balances

 

 

(8,047

)

Recognition of revenue attributed to discontinued operations

 

 

(121

)

Revenue deferred during the period, net of revenue recognized

 

 

7,697

 

Deferred revenue at September 30, 2025

 

$

42,477

 

Schedule of Expected Timing of Revenue Recognition

The Company expects to recognize revenue from unfulfilled performance obligations associated with service contracts that were partially completed as of September 30, 2025 in the following periods (in thousands):

 

Fiscal Year

 

Expected Revenue (1)

 

2025 remainder of the year

 

$

3,964

 

2026

 

 

8,457

 

2027

 

 

3,567

 

Thereafter

 

 

2,329

 

Total

 

$

18,317

 

 

(1)
Expected revenue includes both billed amounts included in deferred revenue and unbilled amounts that are not reflected in the Company’s condensed consolidated financial statements and are subject to change if the Company’s customers decide to cancel or modify their contracts. Purchase orders for instrument service contracts can generally be canceled before the service period begins.