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Revenue from Contracts with Customers | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue from contracts with customers | Revenue from contracts with customers Disaggregation of revenue The following table depicts the disaggregation of revenue by sales channel mix and customer mix as defined by the nature of workflows (in thousands):
| Three months ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Sales channel mix |  |  |  |  |  |  |
Direct sales channel | $ | 34,549 |  |  | $ | 37,854 |  |  | $ | 68,869 |  |  | $ | 63,307 |
Distributor channel | 12,068 |  |  | 11,839 |  |  | 22,608 |  |  | 23,474 |
Total revenue, net | $ | 46,617 |  |  | $ | 49,693 |  |  | $ | 91,477 |  |  | $ | 86,781 |
Customer mix |  |  |  |  |  |  |
Academia and government | $ | 20,239 |  |  | $ | 20,405 |  |  | $ | 52,834 |  |  | $ | 35,602 |
Biotechnology, pharmaceutical, distributor and contract research organizations | 26,378 |  |  | 29,288 |  |  | 38,643 |  |  | 51,179 |
Total revenue, net | $ | 46,617 |  |  | $ | 49,693 |  |  | $ | 91,477 |  |  | $ | 86,781 |
Revenue by geographical markets is presented in Note 22. Remaining performance obligations The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of June 30, 2024 (in thousands):
| Less than 1 year |  | Greater than 1 year |  | Total
Product revenue | $ | 1,079 |  |  | $ | — |  |  | $ | 1,079 |
Service revenue | 22,889 |  |  | 14,064 |  |  | 36,953 |
Total revenue | $ | 23,968 |  |  | $ | 14,064 |  |  | $ | 38,032 |
Contract balances The following table provides information about receivables, deferred revenue from contracts with customers, and customer deposits (in thousands):
| June 30, 2024 |  | December 31, 2023
Trade accounts receivable | $ | 44,643 |  |  | $ | 55,928 |
Contract liabilities: |  |  |
Deferred revenue | $ | 38,032 |  |  | $ | 37,827 |
Customer deposits, which are included in 'Other current liabilities' | 1,069 |  |  | 1,438 |
Total contract liabilities | $ | 39,101 |  |  | $ | 39,265 |
The following provides a roll-forward of the contract liabilities (in thousands):
Contract liabilities |
Balance at December 31, 2022 | $ | 27,665 |
Revenue recognized | (36,298) |
Revenue deferred | 47,898 |
Balance at December 31, 2023 | $ | 39,265 |
Revenue recognized | (22,779) |
Revenue deferred | 22,615 |
Balance at June 30, 2024 | $ | 39,101 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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