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Revenue and Related Matters | 12 Months Ended
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Dec. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenue and Related Matters | Note 5. Revenue and Related Matters Revenue from Contracts with Customers The Company’s customers primarily consist of entities engaged in the life sciences research that pursue the discovery and development of new drugs for a variety of neurologic, oncologic, cardiovascular, infectious disease, and other protein biomarkers associated with diseases. The Company’s customer base includes pharmaceutical, biotechnology, contract research organizations, academic, and government institutions. Disaggregated Revenue When disaggregating revenue, the Company considers all of the economic factors that may affect its revenues. The following tables disaggregate the Company’s revenue by geography, based on the location products and services are consumed, and revenue type (in thousands):
| Year Ended December 31, 2025
| North America |  | EMEA |  | Asia Pacific |  | Total
Product revenue: |  |  |  |  |  |  |
Instruments | $ | 7,039 |  |  | $ | 5,007 |  |  | $ | 5,814 |  |  | $ | 17,860 |
Consumable and other products | 42,049 |  |  | 23,661 |  |  | 9,371 |  |  | 75,081 |
Total product revenue | $ | 49,088 |  |  | $ | 28,668 |  |  | $ | 15,185 |  |  | $ | 92,941 |
Service and other revenue: |  |  |  |  |  |  |
Research services | $ | 23,677 |  |  | $ | 1,799 |  |  | $ | 505 |  |  | $ | 25,981 |
Service-type warranties | 6,270 |  |  | 3,844 |  |  | 1,028 |  |  | 11,142 |
Other services | 4,508 |  |  | 2,405 |  |  | 176 |  |  | 7,089 |
Total service and other revenue | $ | 34,455 |  |  | $ | 8,048 |  |  | $ | 1,709 |  |  | $ | 44,212 |
Collaboration and license revenue: | $ | 1,571 |  |  | $ | — |  |  | $ | (70) |  |  | $ | 1,501 |
Total collaboration and license revenue | $ | 1,571 |  |  | $ | — |  |  | $ | (70) |  |  | $ | 1,501 |
| Year Ended December 31, 2024
| North America |  | EMEA |  | Asia Pacific |  | Total
Product revenue: |  |  |  |  |  |  |
Instruments | $ | 3,924 |  |  | $ | 3,857 |  |  | $ | 2,699 |  |  | $ | 10,480 |
Consumable and other products | 39,794 |  |  | 20,760 |  |  | 8,706 |  |  | 69,260 |
Total product revenue | $ | 43,718 |  |  | $ | 24,617 |  |  | $ | 11,405 |  |  | $ | 79,740 |
Service and other revenues: |  |  |  |  |  |  |
Research services | $ | 31,252 |  |  | $ | 5,833 |  |  | $ | 913 |  |  | $ | 37,998 |
Service-type warranties | 6,319 |  |  | 3,490 |  |  | 798 |  |  | 10,607 |
Other services | 1,618 |  |  | 976 |  |  | 45 |  |  | 2,639 |
Total service and other revenue | $ | 39,189 |  |  | $ | 10,299 |  |  | $ | 1,756 |  |  | $ | 51,244 |
Collaboration and license revenue: | $ | 3,681 |  |  | $ | — |  |  | $ | 771 |  |  | $ | 4,452 |
Total collaboration and license revenue | $ | 3,681 |  |  | $ | — |  |  | $ | 771 |  |  | $ | 4,452 |
| Year Ended December 31, 2023
| North America |  | EMEA |  | Asia Pacific |  | Total
Product revenue: |  |  |  |  |  |  |
Instruments | $ | 6,374 |  |  | $ | 4,384 |  |  | $ | 4,947 |  |  | $ | 15,705 |
Consumable and other products | 35,122 |  |  | 21,216 |  |  | 7,627 |  |  | 63,965 |
Total product revenue | $ | 41,496 |  |  | $ | 25,600 |  |  | $ | 12,574 |  |  | $ | 79,670 |
Service and other revenue: |  |  |  |  |  |  |
Research services | $ | 24,706 |  |  | $ | 2,000 |  |  | $ | 1,122 |  |  | $ | 27,828 |
Service-type warranties | 6,265 |  |  | 3,001 |  |  | 613 |  |  | 9,879 |
Other services | 1,436 |  |  | 951 |  |  | (5) |  |  | 2,382 |
Total service and other revenue | $ | 32,407 |  |  | $ | 5,952 |  |  | $ | 1,730 |  |  | $ | 40,089 |
Collaboration and license revenue: | $ | 1,380 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,380 |
Total collaboration and license revenue | $ | 1,380 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,380 |
The following table disaggregates the Company’s revenue by technology type (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Product revenue: |  |  |  |  |
Simoa | $ | 71,034 |  |  | $ | 79,740 |  |  | $ | 79,670 |
Spatial Biology | 21,907 |  |  | — |  |  | — |
Total product revenue | $ | 92,941 |  |  | $ | 79,740 |  |  | $ | 79,670 |
Service and other revenue: |  |  |  |  |
Simoa | $ | 32,388 |  |  | $ | 51,244 |  |  | $ | 40,089 |
Spatial Biology | 11,824 |  |  | — |  |  | — |
Total service and other revenue | $ | 44,212 |  |  | $ | 51,244 |  |  | $ | 40,089 |
All of the Company's collaboration and license revenue was generated by Simoa technology. Contract Assets There were no contract assets as of December 31, 2025 or 2024. Deferred Revenue During the years ended December 31, 2025 and 2024, the Company recognized $6.5 million and $7.9 million of revenue, respectively, related to its deferred revenue balance at January 1 of each such period. Remaining Performance Obligations As of December 31, 2025, the aggregate amount of transaction prices allocated to performance obligations that were not yet satisfied, or were partially satisfied, was $26.6 million. Of this amount $20.7 million is expected to be recognized as revenue in the next 12 months, with the remaining $5.8 million expected to be recognized thereafter. The $5.8 million primarily consists of amounts billed for undelivered services related to extended service-type warranties and research services.

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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 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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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