Our merger with Standard BioTools is subject to various closing conditions, including governmental approvals, and other uncertainties and there can be no assurances as to whether and when it may be completed.
If the Merger Agreement is terminated, we may, under certain circumstances, be obligated to pay a termination fee to Standard BioTools and these costs could require us to use available cash that would have otherwise been available for general corporate purposes.
While the Merger is pending, we are subject to business uncertainties and contractual restrictions that could materially adversely affect our operations and the future of our business or result in a loss of employees.
NM A percentage calculation is not meaningful due to change in signs, a zero-value denominator or a percentage change greater than 200.
Total revenue decreased by $19.7 million, or 47%, for the three months ended September 30, 2023 compared to the three months ended September 30, 2022. The overall decrease was driven by the timing of revenue recognition for our guaranteed fixed minimum royalties under our agreement with NEB, described further below.
Assay services revenue remained relatively flat for the three months ended September 30, 2023 compared to the three months ended September 30, 2022, increasing by $0.3 million. However, assay services revenue increased by $3.5 million as a result of an increase in the average selling price of samples processed, which was offset by a decrease of $3.2 million due to reduced volume of samples processed. During the three months ended September 30, 2022, the Company processed 10 thousand samples for a single customer at a significant discount, resulting in both an increase in average selling price and a decrease in volume for the three months ended September 30, 2023.
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