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Note 3 - Revenue Recognition | 9 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | Note 3. Revenue Recognition We develop, manufacture, market, sell and maintain life sciences tools and quality control instruments and related software, consumables, and services. We evaluate revenues internally based primarily on operating segment and the nature of goods and services provided. Hardware sales include physical products such as instruments used for molecular and genetic analysis, protein synthesizers, medical meters, wireless sensor systems, and data loggers. Hardware sales may be offered with accompanying perpetual or annual software licenses, which in some cases are required for the hardware to function. Consumables are typically used on a one-time basis and require frequent replacement in our customers' operating cycles. Consumables such as reagents used for molecular and genetic analysis or solutions used for protein synthesis are critical to the ongoing use of our instruments. Consumables such as biological indicator test strips are used on a standalone basis. We offer service and maintenance contracts for our instruments, which may contain performance obligations satisfied: over time, such as an obligation to perform repairs or replace parts as needed over a contractually-specified period of time; upon completion of a discrete service, such as stand-alone maintenance services or discrete services within annual contracts; or, in many cases, both. Typically, revenue is recognized upon shipment of a product, upon completion of a discrete service, or over a period of time reflective of the performance obligation period in the applicable contract, depending on when our obligation to the customer is satisfied. The significant majority of our revenues and related receivables are generated from contracts with customers that are 12 months or less in duration. The following tables present disaggregated revenues for the three and nine months ended December 31, 2022 and 2021, respectively:
|  | Three Months Ended December 31, 2022 |
|  | Clinical Genomics |  |  | Sterilization and Disinfection Control |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Total |
Consumables |  | $ | 10,885 |  |  | $ | 14,307 |  |  | $ | 3,584 |  |  | $ | 553 |  |  | $ | 29,329 |
Hardware and Software |  |  | 3,371 |  |  |  | 95 |  |  |  | 5,844 |  |  |  | 7,023 |  |  |  | 16,333 |
Services |  |  | 1,329 |  |  |  | 1,881 |  |  |  | 2,218 |  |  |  | 3,197 |  |  |  | 8,625 |
Total Revenues |  | $ | 15,585 |  |  | $ | 16,283 |  |  | $ | 11,646 |  |  | $ | 10,773 |  |  | $ | 54,287 |
|  | Three Months Ended December 31, 2021 |
|  | Clinical Genomics* |  |  | Sterilization and Disinfection Control |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Total |
Consumables |  | $ | 10,221 |  |  | $ | 11,718 |  |  | $ | 4,099 |  |  | $ | 889 |  |  | $ | 26,927 |
Hardware and Software |  |  | 4,407 |  |  |  | 250 |  |  |  | 6,100 |  |  |  | 6,978 |  |  |  | 17,735 |
Services |  |  | 1,857 |  |  |  | 1,863 |  |  |  | 2,557 |  |  |  | 3,757 |  |  |  | 10,034 |
Total Revenues |  | $ | 16,485 |  |  | $ | 13,831 |  |  | $ | 12,756 |  |  | $ | 11,624 |  |  | $ | 54,696 |
|  | Nine Months Ended December 31, 2022 |
|  | Clinical Genomics |  |  | Sterilization and Disinfection Control |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Total |
Consumables |  | $ | 34,815 |  |  | $ | 41,239 |  |  | $ | 11,248 |  |  | $ | 2,272 |  |  | $ | 89,574 |
Hardware and Software |  |  | 9,349 |  |  |  | 619 |  |  |  | 16,656 |  |  |  | 18,696 |  |  |  | 45,320 |
Services |  |  | 4,361 |  |  |  | 6,163 |  |  |  | 6,853 |  |  |  | 11,218 |  |  |  | 28,595 |
Total Revenues |  | $ | 48,525 |  |  | $ | 48,021 |  |  | $ | 34,757 |  |  | $ | 32,186 |  |  | $ | 163,489 |
|  | Nine Months Ended December 31, 2021 |
|  | Clinical Genomics* |  |  | Sterilization and Disinfection Control |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Total |
Consumables |  | $ | 10,221 |  |  | $ | 36,579 |  |  | $ | 11,588 |  |  | $ | 2,701 |  |  | $ | 61,089 |
Hardware and Software |  |  | 4,407 |  |  |  | 495 |  |  |  | 14,435 |  |  |  | 20,608 |  |  |  | 39,945 |
Services |  |  | 1,857 |  |  |  | 5,940 |  |  |  | 6,165 |  |  |  | 10,460 |  |  |  | 24,422 |
Total Revenues |  | $ | 16,485 |  |  | $ | 43,014 |  |  | $ | 32,188 |  |  | $ | 33,769 |  |  | $ | 125,456 |
*Revenues in the Clinical Genomics division represent transactions subsequent to the Agena Acquisition on October 20, 2021. Revenues from external customers are attributed to individual countries based upon the locations to which the products are shipped or exported, or locations where services are performed, as follows:
|  | Three Months Ended December 31, |  |  | Nine Months Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
United States |  | $ | 28,645 |  |  | $ | 30,414 |  |  | $ | 88,756 |  |  | $ | 68,253 |
China |  |  | 7,482 |  |  |  | 6,243 |  |  |  | 18,659 |  |  |  | 9,960 |
Other |  |  | 18,160 |  |  |  | 18,039 |  |  |  | 56,074 |  |  |  | 47,243 |
Total revenues |  | $ | 54,287 |  |  | $ | 54,696 |  |  | $ | 163,489 |  |  | $ | 125,456 |
Other than China, no foreign country exceeds 10% of total revenues. Contract Balances Our contracts have varying payment terms and conditions. Some customers prepay for products and services, resulting in unearned revenues or customer deposits, called contract liabilities. Short-term contract liabilities are included within other accrued expenses and unearned revenues in the accompanying Condensed Consolidated Balance Sheets, and long-term contract liabilities are included within other long-term liabilities in the accompanying Condensed Consolidated Balance Sheets. A summary of contract liabilities is as follows:
Contract liabilities as of March 31, 2022 |  | $ | 15,069 |
Prior year liabilities recognized in revenues during the nine months ended December 31, 2022 |  |  | (7,927 | )
Contract liabilities added during the nine months ended December 31, 2022, net of revenues recognized |  |  | 9,091 |
Contract liabilities balance as of December 31, 2022 |  | $ | 16,233 |
Contract liabilities primarily relate to service contracts with original expected service durations of 12 months or less and will be recognized to revenue over time as our performance obligations are satisfied.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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