Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Summary of Significant Accounting Policies

Schedule of finite lived intangible assets useful life

Customer Relationships	8 years
Developed Technology	15 years
Software	3 years
Trade Name	2 years

Summary of the activity of the Company's deferred revenue

The following is a summary of the activity of the Company’s deferred revenue related to product and service revenue (in thousands):

	Nine Months Ended September 30,
	2022		2021
Balances at beginning of period	$	14,521	$	8,938
Recognition of revenue included in balance at beginning of the period		(3,521)		(1,735)
Revenue deferred during the period, net of revenue recognized		5,891		5,550
Balances at end of period	$	16,891	$	12,753

Schedule of deferred revenue amounts expected to be recognized in the future

The amount of deferred revenue equals the transaction price allocated to unfulfilled performance obligations for the period presented. Such deferred revenue amounts related to product and service revenue are expected to be recognized in the future as follows (in thousands):

	September 30,
	2022		2021
Deferred revenue expected to be recognized in:
One year or less	$	7,285	$	4,843
One to two years		4,678		2,780
Three years and beyond		4,928		5,130
	$	16,891	$	12,753

Schedule of disaggregation of revenue

The Company’s product and service revenue consists of sales of devices and consumables and the sale of service and extended warranty plans. The following table presents the Company’s revenue by revenue stream (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Product and service revenue:
Device sales revenue	$	10,952	$	10,075	$	24,239	$	20,167
Consumables and service revenue		4,485		2,210		9,835		5,390
Total product and service revenue		15,437		12,285		34,074		25,557
License and contract revenue		360		260		1,135		808
Total revenue	$	15,797	$	12,545	$	35,209	$	26,365

The following table presents the Company’s product and service revenue by device type (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Handheld	$	11,019	$	9,359	$	22,426	$	17,877
Desktop		4,418		2,926		11,648		7,680
Total product and service revenue	$	15,437	$	12,285	$	34,074	$	25,557

Revenue based on the end-user entity type for the Company’s product and service revenue are presented below (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Government	$	11,069	$	9,505	$	22,788	$	18,018
Pharmaceutical/Biotechnology		4,327		2,766		11,032		7,475
Academia		41		14		254		64
Total product and service revenue	$	15,437	$	12,285	$	34,074	$	25,557

The following table disaggregates the Company’s revenue from contracts with customers by geography, which are determined based on the customer location (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Americas	$	12,440	$	11,067	$	27,978	$	21,556
Europe, Middle East and Africa		2,361		839		4,961		3,010
Asia Pacific		996		639		2,270		1,799
	$	15,797	$	12,545	$	35,209	$	26,365