| Revenue recognition |
Revenue recognition The following tables present disaggregated revenues: | | | | | | | | | | | | | | | | | | | | | | | | | May 26, 2025 through | | Year ended | | Year ended | | | | | | December 31, 2025 | | May 25, 2025 | | May 26, 2024 | | CDMO | | | | | $ | 51,489 | | | $ | 90,095 | | | $ | 96,616 | | | HA manufacturing | | | | | 24,032 | | | 38,772 | | | 31,645 | | | Total | | | | | $ | 75,521 | | | $ | 128,867 | | | $ | 128,261 | | | | | | | | | | | | | Revenues recognized over time | | | | | $ | 14,232 | | | $ | 23,194 | | | $ | 29,361 | | | Revenues recognized at a point in time | | | | | 61,289 | | | 105,673 | | | 98,900 | | | Total | | | | | $ | 75,521 | | | $ | 128,867 | | | $ | 128,261 | |
During the transition period ended December 31, 2025, the Company had revenue concentrations of 10% or greater from two customers, with those customers comprising 42% and 16% of revenue. During the fiscal year ended May 25, 2025, the Company had revenue concentrations of 10% or greater from three customers, with those customers comprising 44%, 18% and 10% of revenue. During the fiscal year ended May 26, 2024, the Company had revenues concentrations of 10% or greater from three customers, with those customers comprising 39%, 19% and 10% of revenue. The following table presents changes in contract assets and liabilities: | | | | | | | | | | | | | | | | | | | Contract assets, current | | Contract liabilities, current | | Contract liabilities, noncurrent | | Balance at May 26, 2024 | $ | 4,069 | | | $ | (2,113) | | | $ | (4,960) | | | Changes to the beginning balance arising from: | | | | | | | Amounts billed as accounts receivable as the result of rights to consideration becoming unconditional | (4,069) | | | — | | | — | | | Recognition of revenue as the result of performance obligations satisfied | — | | | 2,113 | | | — | | | Reclassification of scheduled satisfaction of performance obligations from noncurrent to current due to passage of time | — | | | — | | | 2,295 | | | Net change to contract balance recognized after beginning of period due to amounts billed, recognition of revenue, changes in estimate, reclassifications from noncurrent to current, and interest from significant financing component | 6,979 | | | (3,415) | | | (360) | | | Balance at May 25, 2025 | 6,979 | | | (3,415) | | | (3,025) | | | | | | | | | | | | | | Changes to the beginning balance arising from: | | | | | | Amounts billed as accounts receivable as the result of rights to consideration becoming unconditional | (6,333) | | | — | | | — | | Recognition of revenue as the result of performance obligations satisfied | — | | | 921 | | | — | | Reclassification of scheduled satisfaction of performance obligations from noncurrent to current due to passage of time | — | | | — | | | 2,991 | | Net change to contract balances recognized after the comparative balance sheet date due to amounts billed, recognition of revenue, changes in estimate, reclassifications from noncurrent to current, and interest from significant financing component | 7,009 | | | (6,166) | | | 34 | | | Balance at December 31, 2025 | $ | 7,655 | | | $ | (8,660) | | | $ | — | |
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