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Variable-Fee Revenue
 3 Months Ended
Mar. 31, 2025
Variable-Fee Revenue  
Variable-Fee Revenue

2.Variable-Fee Revenue

The Company recognizes variable-fee licenses (i.e., fee per test) and sales of hardware equipment and accessories in accordance with ASC 606, Revenue from Contracts with Customers. Total fees from variable-fee licenses represented approximately $2,386 and $8,007 for the three months ended March 31, 2025 and 2024, respectively. Total sales of hardware equipment and accessories represented approximately $232 and $817 of revenues for the three months ended March 31, 2025 and 2024 respectively. The remainder of the Company’s revenue is generated from leasing the Company's testing product for a fixed fee, which is not subject to ASC 606. See Note 15 to the Unaudited Condensed Financial Statements for more information.

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Upon shipment under variable-fee license contracts, assets for lease are sold to the customers, and the asset is recognized as cost of revenue.

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