Quarterly report pursuant to Section 13 or 15(d)

Segment, Geographical and Other Revenue Information (Tables)

v3.19.3
Segment, Geographical and Other Revenue Information (Tables)
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Schedule of segment reporting
The following table provides financial information by our reportable business segments along with a reconciliation to consolidated loss before income taxes (in thousands):
 
 
Three months ended September 30, 2019
 
Three months ended September 30, 2018
 
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
Product revenue
 
$
10,351

 
$

 
$
10,351

 
$
8,405

 
$

 
$
8,405

Research and development revenue
 
10,073

 
1,482

 
11,555

 
3,720

 
4,821

 
8,541

Total revenues
 
20,424

 
1,482

 
21,906

 
12,125

 
4,821

 
16,946

Costs and operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of product revenue
 
5,067



 
5,067

 
3,791

 

 
3,791

Research and development(1)
 
5,313


3,080

 
8,393

 
4,758

 
2,920

 
7,678

Selling, general and administrative(1)
 
2,037


690

 
2,727

 
1,870

 
165

 
2,035

Total segment costs and operating expenses
 
12,417

 
3,770

 
16,187

 
10,419

 
3,085

 
13,504

Income (loss) from operations
 
$
8,007

 
$
(2,288
)
 
$
5,719

 
$
1,706

 
$
1,736

 
$
3,442

Corporate costs (2)
 
 
 
 
 
(4,912
)
 
 
 
 
 
(5,120
)
Depreciation and amortization
 
 
 
 
 
(471
)
 
 
 
 
 
(309
)
Income (loss) before income taxes
 
 
 
 
 
$
336

 
 
 
 
 
$
(1,987
)
(1) Research and development expenses and Selling, general and administrative expenses exclude depreciation and amortization of finance leases.
(2) Corporate costs include unallocated selling, general and administrative expense, interest income, and other income and expenses.
 
 
Nine months ended September 30, 2019
 
Nine months ended September 30, 2018
 
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
Product revenue
 
$
24,588

 
$

 
$
24,588

 
$
18,291

 
$

 
$
18,291

Research and development revenue
 
16,512

 
8,708

 
25,220

 
15,728

 
10,507

 
26,235

Total revenues
 
41,100

 
8,708

 
49,808

 
34,019

 
10,507

 
44,526

Costs and operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of product revenue
 
12,230

 

 
12,230

 
10,228

 

 
10,228

Research and development(1)
 
14,889

 
9,252

 
24,141

 
14,548

 
7,294

 
21,842

Selling, general and administrative(1)
 
6,499

 
1,768

 
8,267

 
5,695

 
615

 
6,310

Total segment costs and operating expenses
 
33,618

 
11,020

 
44,638

 
30,471

 
7,909

 
38,380

Income (loss) from operations
 
$
7,482

 
$
(2,312
)
 
$
5,170

 
$
3,548

 
$
2,598

 
$
6,146

Corporate costs (2)
 
 
 
 
 
(15,185
)
 
 
 
 
 
(15,762
)
Depreciation and amortization
 
 
 
 
 
(1,273
)
 
 
 
 
 
(812
)
Loss before income taxes
 
 
 
 
 
$
(11,288
)
 
 
 
 
 
$
(10,428
)
(1) Research and development expenses and Selling, general and administrative expenses exclude depreciation and amortization of finance leases.
(2) Corporate costs include unallocated selling, general and administrative expense, interest income, and other income and expenses.


The following table provides stock-based compensation expense included in income (loss) from operations by segment (in thousands):
 
 
Three months ended September 30, 2019
 
Three months ended September 30, 2018
 
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
Stock-based compensation
 
$
736

 
$
225

 
$
961

 
$
354

 
$
97

 
$
451


 
 
Nine months ended September 30, 2019
 
Nine months ended September 30, 2018
 
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
Stock-based compensation
 
$
1,973

 
$
563

 
$
2,536

 
$
2,005

 
$
243

 
$
2,248



Schedule of customers that contributed 10% or more of total accounts receivable
Customers that each contributed 10% or more of our total revenues were as follows:
 
Percentage of Total Revenues for the
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Customer A
21%
 
27%
 
31%
 
33%
Customer B
*
 
28%
 
17%
 
24%
Customer C
*
 
10%
 
*
 
17%
Customer D
29%
 
15%
 
15%
 
11%

Customers that each contributed 10% or more of our total accounts receivable had the following balances as of the periods presented:
 
Percentage of Accounts Receivables as of
 
September 30, 2019
 
December 31, 2018
Customer A
20%
 
37%
Customer B
*
 
17%
Customer D
*
 
11%
Customer E
14%
 
*
Customer F
15%
 
*
Customer G
*
 
16%
Customer H
16%
 
*
* Less than 10% of the period presented
Schedule of revenues by geographical area
Geographic revenues are identified by the location of the customer and consist of the following (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Revenues
 
 
 
 
 
 
 
Americas
$
2,706

 
$
4,315

 
$
9,620

 
$
13,968

EMEA
12,205

 
6,274

 
24,672

 
15,075

APAC
6,995

 
6,357

 
15,516

 
15,483

Total revenues
$
21,906

 
$
16,946

 
$
49,808

 
$
44,526


Schedule of long-lived assets by geographical area
Identifiable long-lived assets by location and goodwill by reporting unit were as follows:
Long-lived assets:
September 30, 2019
 
December 31, 2018
United States
$
31,104

 
$
4,759

Schedule of intangible assets and goodwill
 
 
As of September 30, 2019 and December 31, 2018
 
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
Goodwill
 
$
2,463

 
$
778

 
$
3,241