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Revenue (Tables)
6 Months Ended
Jun. 30, 2024
Disaggregation Of Revenue [Abstract]  
Schedule of Revenue Disaggregated by Customer Type

The following table presents the Company’s revenue disaggregated by customer type (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Pharma tests and services

 

$

13,197

 

 

$

6,083

 

 

$

23,009

 

 

$

12,416

 

Enterprise sales

 

 

7,958

 

 

 

7,386

 

 

 

15,930

 

 

 

16,844

 

Population sequencing

 

 

1,280

 

 

 

3,000

 

 

 

2,780

 

 

 

6,005

 

Other

 

 

145

 

 

 

230

 

 

 

386

 

 

 

294

 

Total revenue

 

$

22,580

 

 

$

16,699

 

 

$

42,105

 

 

$

35,559

 

Schedule of Contract Assets and Liabilities

The opening and closing balances of receivables and contract liabilities from contracts with customers are shown below (in thousands). Contract assets were immaterial for all periods presented.

 

 

June 30, 2024

 

 

December 31, 2023

 

Opening balances:

 

 

 

 

 

 

Accounts receivable, net

 

$

17,730

 

 

$

16,642

 

 

 

 

 

 

 

 

Short-term contract liabilities

 

$

3,288

 

 

$

1,264

 

Long-term contract liabilities (included in other long-term liabilities)

 

 

3,928

 

 

 

 

Total contract liabilities

 

 

7,216

 

 

 

1,264

 

 

 

 

 

 

 

 

Closing balances:

 

 

 

 

 

 

Accounts receivable, net

 

$

12,921

 

 

$

17,730

 

 

 

 

 

 

 

 

Short-term contract liabilities

 

$

4,174

 

 

$

3,288

 

Long-term contract liabilities (included in other long-term liabilities)

 

 

341

 

 

 

3,928

 

Total contract liabilities

 

 

4,515

 

 

 

7,216