Annual report pursuant to Section 13 and 15(d)

Revenue Recognition (Tables)

v3.19.3.a.u2
Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of revenue
Segment information for fiscal year 2019 is as follows (in thousands):
Year Ended December 31, 2019
Performance Enzymes Novel Biotherapeutics Total
Major products and service:
       Product Revenue $ 29,465    $ —    $ 29,465   
Research and development revenue 28,691    10,302    38,993   
Total revenues $ 58,156    $ 10,302    $ 68,458   
Primary geographical markets:
Americas
$ 13,039    $ —    $ 13,039   
EMEA
26,831    10,302    37,133   
APAC
18,286    —    18,286   
Total revenues $ 58,156    $ 10,302    $ 68,458   

Segment information for fiscal year 2018 is as follows (in thousands):
Year Ended December 31, 2018
Performance Enzymes Novel Biotherapeutics Total
Major products and service:
       Product Revenue $ 25,590    $ —    $ 25,590   
Research and development revenue 21,483    13,521    35,004   
Total revenues $ 47,073    $ 13,521    $ 60,594   
Primary geographical markets:
Americas
$ 15,332    $ 38    $ 15,370   
EMEA
8,878    13,483    22,361   
APAC
22,863    —    22,863   
Total revenues $ 47,073    $ 13,521    $ 60,594   
Segment information for fiscal year 2017 is as follows (in thousands):
Year Ended December 31, 2017
Performance Enzymes Novel Biotherapeutics Total
Major products and service: $ 26,685    $ —    $ 26,685   
       Product Revenue 15,648    7,691    23,339   
Research and development revenue $ 42,333    $ 7,691    $ 50,024   
Total revenues
Primary geographical markets:
Americas
$ 15,575    $ —    $ 15,575   
EMEA
11,919    7,691    19,610   
APAC
14,839    —    14,839   
Total revenues $ 42,333    $ 7,691    $ 50,024   
Contract with customer
The following table presents changes in the contract assets, unbilled receivables, contract costs, and contract liabilities for the years ended December 31, 2019 and 2018 (in thousands):
Year Ended December 31, 2019
Beginning Balance Additions
Deductions (1)
Ending Balance
Contract Assets $ 35    12,073    (11,081)   $ 1,027   
Unbilled receivables, current $ 1,916    13,014    (4,831)   $ 10,099   
Unbilled receivables, non-current (2)
$ 786    —    (786)   $ —   
Contract Costs (2)
$ 42    —    (42)   $ —   
Contract Liabilities: Deferred Revenue $ 8,288    7,552    (13,796)   $ 2,044   

Year Ended December 31, 2018
Beginning Balance Additions
Deductions (1)
Ending Balance
Contract Assets $ —    8,934    (8,899)   $ 35   
Unbilled receivables, current $ —    2,908    (992)   $ 1,916   
Unbilled receivables, non-current (2)
$ —    786    —    $ 786   
Contract Costs (2)
$ 239    —    (197)   $ 42   
Contract Liabilities: Deferred Revenue $ 18,966    6,446    (17,124)   $ 8,288   
(1) The asset or liability balances are presented as a net position per contract and accordingly the deductions column includes the netting effect of presenting each contract on a net position basis as either a net liability or asset.
(2) Included in non-current assets in our consolidated balance sheets.
We recognized the following revenues (in thousands):

Year Ended December 31,   
Revenue recognized in the period for: 2019 2018
Amounts included in contract liabilities at the beginning of the period:
     Performance obligations satisfied $ 4,567    $ 13,615   
Changes in the period:
Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods 1,442    374   
Performance obligations satisfied from new activities in the period - contract revenue 62,449    46,605   
Total revenue $ 68,458    $ 60,594   
Performance obligation, expected timing of satisfaction
The balances in the table below are partially based on judgments involved in estimating future orders from customers subject to the exercise of material rights pursuant to respective contracts (in thousands):

2020 2021 2022 2023 and Thereafter Total
Product Revenue $ —    $ 365    $ 1,622    $ —    $ 1,987   
Research and development revenue 57    —    —    —    57   
Total revenues $ 57    $ 365    $ 1,622    $ —    $ 2,044