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Revenue
12 Months Ended
Mar. 31, 2023
Disaggregation of Revenue [Abstract]  
Revenue

5. Revenue

Disaggregation of Revenue

The following table presents revenue by category:

 

 

Year Ended March 31,

 

 

 

2023

 

 

2022

 

 

2021

 

 

 

Amount

 

 

% of Revenue

 

 

Amount

 

 

% of Revenue

 

 

Amount

 

 

% of Revenue

 

 

 

(in thousands, except percentages)

 

Point in Time

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PGS

 

$

182,866

 

 

 

61

%

 

$

189,703

 

 

 

70

%

 

$

191,066

 

 

 

78

%

Telehealth

 

 

34,961

 

 

 

12

%

 

 

15,299

 

 

 

6

%

 

 

 

 

 

0

%

Consumer services

 

 

217,827

 

 

 

73

%

 

 

205,002

 

 

 

76

%

 

 

191,066

 

 

 

78

%

Research services

 

 

 

 

 

0

%

 

 

 

 

 

0

%

 

 

 

 

 

0

%

Therapeutics

 

 

 

 

 

0

%

 

 

 

 

 

0

%

 

 

54

 

 

 

0

%

Total

 

$

217,827

 

 

 

73

%

 

$

205,002

 

 

 

76

%

 

$

191,120

 

 

 

78

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Over Time

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PGS

 

$

19,548

 

 

 

7

%

 

$

12,978

 

 

 

5

%

 

$

6,459

 

 

 

3

%

Telehealth

 

 

9,761

 

 

 

3

%

 

 

3,908

 

 

 

1

%

 

 

 

 

 

0

%

Consumer services

 

 

29,309

 

 

 

10

%

 

 

16,886

 

 

 

6

%

 

 

6,459

 

 

 

3

%

Research services

 

 

52,353

 

 

 

17

%

 

 

50,005

 

 

 

18

%

 

 

46,341

 

 

 

19

%

Therapeutics

 

 

 

 

 

0

%

 

 

 

 

 

0

%

 

 

 

 

 

0

%

Total

 

$

81,662

 

 

 

27

%

 

$

66,891

 

 

 

24

%

 

$

52,800

 

 

 

22

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PGS

 

$

202,414

 

 

 

68

%

 

$

202,681

 

 

 

75

%

 

$

197,525

 

 

 

81

%

Telehealth

 

 

44,722

 

 

 

15

%

 

 

19,207

 

 

 

7

%

 

 

 

 

 

0

%

Consumer services

 

 

247,136

 

 

 

83

%

 

 

221,888

 

 

 

82

%

 

 

197,525

 

 

 

81

%

Research services

 

 

52,353

 

 

 

17

%

 

 

50,005

 

 

 

18

%

 

 

46,341

 

 

 

19

%

Therapeutics

 

 

 

 

 

0

%

 

 

 

 

 

0

%

 

 

54

 

 

 

0

%

Total

 

$

299,489

 

 

 

100

%

 

$

271,893

 

 

 

100

%

 

$

243,920

 

 

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table summarizes revenue by region based on the shipping address of customers or the location where the services are delivered:

 

 

Year Ended March 31,

 

 

 

2023

 

 

2022

 

 

2021

 

 

 

Amount

 

 

% of Revenue

 

 

Amount

 

 

% of Revenue

 

 

Amount

 

 

% of Revenue

 

 

 

(in thousands, except percentages)

 

United States

 

$

217,242

 

 

 

73

%

 

$

192,438

 

 

 

71

%

 

$

176,120

 

 

 

72

%

United Kingdom

 

 

63,023

 

 

 

21

%

 

 

58,477

 

 

 

22

%

 

 

49,386

 

 

 

20

%

Canada

 

 

13,581

 

 

 

4

%

 

 

14,293

 

 

 

5

%

 

 

12,172

 

 

 

5

%

Other regions

 

 

5,643

 

 

 

2

%

 

 

6,685

 

 

 

2

%

 

 

6,242

 

 

 

3

%

Total

 

$

299,489

 

 

 

100

%

 

$

271,893

 

 

 

100

%

 

$

243,920

 

 

 

100

%

 

Contract Balances

Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts associated with contractual rights related to consideration for performance obligations and are included in prepaid expenses and other current assets on the consolidated balance sheets. The amount of contract assets was immaterial as of March 31, 2023 and 2022.

Contract liabilities consist of deferred revenue. Revenue is deferred when the Company invoices in advance of fulfilling performance obligations under a contract. Deferred revenue primarily relates to Kits that have been shipped to consumers and non-consigned retail sites but not yet returned for processing by the consumer, as well as research services billed in advance of performance. Deferred revenue is recognized when the obligation to deliver results to the customer is satisfied and when research services are ultimately performed. Deferred revenue also consists of advance payments from members related to membership performance obligations and from customers related to subscription for extended health insight performance obligations that have not been satisfied as of the balance sheet date. Deferred revenue is recognized when the obligation to deliver membership services or subscription services is satisfied.

As of March 31, 2023 and 2022, deferred revenue for consumer services was $48.6 million and $51.3 million, respectively. Of the $51.3 million and $39.3 million of deferred revenue for consumer services as of March 31, 2022 and 2021, respectively, the Company recognized $46.6 million and $31.9 million as revenue during the fiscal years ended March 31, 2023 and 2022, respectively.

As of March 31, 2023 and 2022, deferred revenue for research services was $14.0 million and $11.6 million, respectively, which included related party deferred revenue amounts of $11.8 million and $9.2 million, respectively. Of the $11.6 million and $31.9 million of deferred revenue for research services as of March 31, 2022 and 2021, respectively, the Company recognized $9.7 million and $31.4 million as revenue during the fiscal years ended March 31, 2023 and 2022, respectively, which included related party revenue amounts of $9.2 million and $30.1 million, respectively.

Remaining Performance Obligations

The transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that are expected to be billed and recognized as revenue in future periods. The Company has utilized the practical expedient available under ASC 606 to not disclose the value of unsatisfied performance obligations for PGS and telehealth as those contracts have an expected length of one year or less. As of March 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations for research services was $21.6 million. The Company expects to recognize revenue on approximately 91% of this amount over the next 12 months and the remainder thereafter. During the fiscal years ended March 31, 2023, 2022 and 2021, the Company did not recognize any revenue for performance obligations satisfied in prior periods.