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Revenue and Geographic Area (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

The following tables present the Company's revenue for the three months ended March 31, 2026 and 2025 based on product type and the geographic location of customers’ facilities (in thousands):


	Three Months Ended March 31,
	2026		2025
Product revenue:
Instruments	$	4,470	$	6,646
Consumables		10,984		8,135
Total product revenue		15,454		14,781
Services and other revenue		5,692		5,441
Total revenue	$	21,146	$	20,222


	Three Months Ended March 31,
	2026		2025
Americas	$	7,748	$	7,067
Europe, Middle East and Africa (EMEA)		9,362		8,896
Asia-Pacific		4,036		4,259
Total revenue	$	21,146	$	20,222

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, 2025		42,452
Recognition of revenue from beginning deferred revenue balances		(3,222	)
Recognition of revenue attributed to discontinued operations(1)		(29,285	)
Revenue deferred during the period, net of revenue recognized		3,049
Deferred revenue at March 31, 2026	$	12,994

(1)

Deferred revenue related to the Collaboration Agreement with Illumina was fully recognized upon the sale of the Disposed Entities. The Company has classified this revenue within discontinued operations consistent with the treatment of all SomaScan Business-related activities. Please see Note 2, Discontinued Operations, for more information.

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 March 31, 2026 in the following periods (in thousands):


Fiscal Year	Expected Revenue (1)
2026 remainder of the year	$	8,931
2027		5,284
2028		2,714
Thereafter		1,576
Total	$	18,505

(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.