Revenue

9 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

2. Revenue

The following table is a disaggregation of revenue within each reportable segment.

	Three Months Ended June 30,				Nine Months Ended June 30,
(In thousands)	2024		2023		2024		2023
Medical Device
Product sales	$	10,726	$	9,299	$	33,776	$	25,593
Royalties & license fees – performance coatings		9,324		8,286		27,855		23,853
License fees – SurVeil DCB		1,134		25,867		3,193		28,494
Research, development and other		2,199		2,562		6,930		6,799
Medical Device Revenue		23,383		46,014		71,754		84,739
In Vitro Diagnostics
Product sales		6,836		6,368		20,712		19,658
Research, development and other		122		101		385		217
In Vitro Diagnostics Revenue		6,958		6,469		21,097		19,875
Total Revenue	$	30,341	$	52,483	$	92,851	$	104,614

Contract assets totaled $10.8 million and $7.8 million as of June 30, 2024 and September 30, 2023, respectively, and was reported in contract assets, current and other assets, noncurrent (Note 5) on the condensed consolidated balance sheets. Fluctuations in the balance of contract assets result primarily from (i) fluctuations in the sales volume of performance coating royalties and license fees earned, but not collected, at each balance sheet date due to payment timing and contractual changes in the normal course of business; and (ii) starting in fiscal 2024, sales-based profit-sharing earned, but not collected, related to a collaborative arrangement (Note 3).

Deferred revenue totaled $3.7 million and $6.8 million as of June 30, 2024 and September 30, 2023, respectively, on the condensed consolidated balance sheets and was primarily related to a collaborative arrangement (Note 3). For the nine months ended June 30, 2024 and 2023, the total amount of revenue recognized that was included in the respective beginning of fiscal year balances of deferred revenue on the condensed consolidated balance sheets totaled $3.4 million and $3.9 million, respectively.