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Note 3 - Revenue | 9 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | Note 3. Revenue We develop, manufacture, market, sell and maintain life sciences tools and quality control instruments and related consumables. We evaluate revenues internally primarily based 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 sold by our Clinical Genomics and Biopharmaceutical Development divisions, 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 sold by our Sterilization and Disinfection Control Division are used on a standalone basis. We also offer maintenance, calibration, and testing service contracts. Under our service contracts we perform labor and replace parts on an as-needed basis over a contractually specified period of time, or perform specific, discrete services. 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 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, 2023 and December 31, 2022, respectively:
|  | Three Months Ended December 31, 2023 |
|  | Sterilization and Disinfection Control (1) |  |  | Clinical Genomics |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Total |
Consumables |  | $ | 16,832 |  |  | $ | 9,758 |  |  | $ | 4,080 |  |  | $ | 539 |  |  | $ | 31,209 |
Hardware and Software |  |  | 180 |  |  |  | 1,639 |  |  |  | 2,672 |  |  |  | 8,254 |  |  |  | 12,745 |
Services |  |  | 2,326 |  |  |  | 1,149 |  |  |  | 2,678 |  |  |  | 3,366 |  |  |  | 9,519 |
Total Revenues |  | $ | 19,338 |  |  | $ | 12,546 |  |  | $ | 9,430 |  |  | $ | 12,159 |  |  | $ | 53,473 |
(1) Revenues from GKE GmbH and SAL GmbH are included in the Sterilization and Disinfection Control division beginning upon acquisition on October 16, 2023.
|  | Three Months Ended December 31, 2022 |
|  | Sterilization and Disinfection Control |  |  | Clinical Genomics |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Total |
Consumables |  | $ | 14,307 |  |  | $ | 10,885 |  |  | $ | 3,584 |  |  | $ | 553 |  |  | $ | 29,329 |
Hardware and Software |  |  | 95 |  |  |  | 3,371 |  |  |  | 5,844 |  |  |  | 7,023 |  |  |  | 16,333 |
Services |  |  | 1,881 |  |  |  | 1,329 |  |  |  | 2,218 |  |  |  | 3,197 |  |  |  | 8,625 |
Total Revenues |  | $ | 16,283 |  |  | $ | 15,585 |  |  | $ | 11,646 |  |  | $ | 10,773 |  |  | $ | 54,287 |
|  | Nine Months Ended December 31, 2023 |
|  | Sterilization and Disinfection Control (1) |  |  | Clinical Genomics |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Total |
Consumables |  | $ | 45,288 |  |  | $ | 28,490 |  |  | $ | 12,753 |  |  | $ | 1,834 |  |  | $ | 88,365 |
Hardware and Software |  |  | 381 |  |  |  | 9,540 |  |  |  | 7,838 |  |  |  | 22,216 |  |  |  | 39,975 |
Services |  |  | 6,676 |  |  |  | 3,434 |  |  |  | 7,935 |  |  |  | 10,898 |  |  |  | 28,943 |
Total Revenues |  | $ | 52,345 |  |  | $ | 41,464 |  |  | $ | 28,526 |  |  | $ | 34,948 |  |  | $ | 157,283 |
(1) Revenues from GKE GmbH and SAL GmbH are included in the Sterilization and Disinfection Control division beginning upon acquisition on October 16, 2023.
|  | Nine Months Ended December 31, 2022 |
|  | Sterilization and Disinfection Control |  |  | Clinical Genomics |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Total |
Consumables |  | $ | 41,239 |  |  | $ | 34,815 |  |  | $ | 11,248 |  |  | $ | 2,272 |  |  | $ | 89,574 |
Hardware and Software |  |  | 619 |  |  |  | 9,349 |  |  |  | 16,656 |  |  |  | 18,696 |  |  |  | 45,320 |
Services |  |  | 6,163 |  |  |  | 4,361 |  |  |  | 6,853 |  |  |  | 11,218 |  |  |  | 28,595 |
Total Revenues |  | $ | 48,021 |  |  | $ | 48,525 |  |  | $ | 34,757 |  |  | $ | 32,186 |  |  | $ | 163,489 |
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, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
United States |  | $ | 25,595 |  |  | $ | 28,645 |  |  | $ | 79,205 |  |  | $ | 88,756 |
China |  |  | 4,942 |  |  |  | 7,482 |  |  |  | 18,584 |  |  |  | 18,659 |
Other |  |  | 22,936 |  |  |  | 18,160 |  |  |  | 59,494 |  |  |  | 56,074 |
Total revenues |  | $ | 53,473 |  |  | $ | 54,287 |  |  | $ | 157,283 |  |  | $ | 163,489 |
Other than China, no foreign country exceeded 10% of total revenues for the three and nine months ended December 31, 2023 and 2022. 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 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, 2023 |  | $ | 16,098 |
Prior year liabilities recognized in revenues during the nine months ended December 31, 2023 |  |  | (6,858 | )
Contract liabilities added during the nine months ended December 31, 2023, net of revenues recognized |  |  | 5,478 |
Contract liabilities balance as of December 31, 2023 |  | $ | 14,718 |
Contract liabilities primarily relate to service contracts with original expected service durations of 12 months or less and will be recognized to revenue as our performance obligations are satisfied.

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