Annual report pursuant to Section 13 and 15(d)

Segment, Geographical and Other Revenue Information (Tables)

v3.19.3.a.u2
Segment, Geographical and Other Revenue Information (Tables)
12 Months Ended
Dec. 31, 2019
Segment Reporting Information, Operating Income (Loss) [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table provides financial information by our reportable business segments along with a reconciliation to consolidated loss before income taxes (in thousands):

Year Ended December 31, 2019 Year Ended December 31, 2018
Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total
Revenues:
Product revenue $ 29,465    $ —    $ 29,465    $ 25,590    $ —    $ 25,590   
Research and development revenue 28,691    10,302    38,993    21,483    13,521    35,004   
Total revenues 58,156    10,302    68,458    47,073    13,521    60,594   
Costs and operating expenses:
Cost of product revenue 15,632    —    15,632    12,620    —    12,620   
Research and development (1)
19,380    13,278    32,658    18,924    10,185    29,109   
Selling, general and administrative(1)
8,462    2,222    10,684    7,538    771    8,309   
Total segment costs and operating expenses 43,474    15,500    58,974    39,082    10,956    50,038   
Income (loss) from operations $ 14,682    $ (5,198)   9,484    $ 7,991    $ 2,565    10,556   
Corporate costs (2)
(19,624)   (20,324)  
Depreciation and amortization (1,778)   (1,147)  
Loss before income taxes $ (11,918)   $ (10,915)  
(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.
Year Ended December 31, 2018 Year Ended December 31, 2017
Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total
Revenues:
Product revenue $ 25,590    $ —    $ 25,590    $ 26,685    $ —    $ 26,685   
Research and development revenue 21,483    13,521    35,004    15,648    7,691    23,339   
Total revenues 47,073    13,521    60,594    42,333    7,691    50,024   
Costs and operating expenses:
Cost of product revenue 12,620    —    12,620    14,327    —    14,327   
Research and development (1)
18,924    10,185    29,109    16,847    12,107    28,954   
Selling, general and administrative(1)
7,538    771    8,309    7,371    —    7,371   
Total segment costs and operating expenses 39,082    10,956    50,038    38,545    12,107    50,652   
Income (loss) from operations $ 7,991    $ 2,565    10,556    $ 3,788    $ (4,416)   (628)  
Corporate costs (2)
(20,324)   (21,245)  
Depreciation (1,147)   (1,042)  
Loss before income taxes $ (10,915)   $ (22,915)  
(1) Research and development expenses and Selling, general and administrative expenses exclude depreciation.
(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):
Schedules of Concentration of Risk
Customers that each contributed 10% or more of our total revenues were as follows:
 
Percentage of Total Revenues
For The Years Ended December 31,
  2019 2018 2017
Merck 28  % 29  % 28  %
Novartis 23  %   14  %
Nestlé Health Science 15  % 22  % 15  %
Tate & Lyle   13  % 11  %
* Percentage was less than 10%
Customers that each accounted for 10% or more of our accounts receivable balance for the period presented were as follows:
 
Percentage of Accounts Receivables
As Of December 31,
  2019 2018
Merck & Co. 38  % 37  %
Nestlé Health Science 10  % 17  %
Novartis   11  %
Kyorin Pharmaceutical Co Ltd   16  %
* Percentage was less than 10%
Schedule of Revenues by Geographical Area
Geographic revenues are identified by the location of the customer and consist of the following (in thousands):
  Year Ended December 31,
2019 2018 2017
Revenues
Americas $ 13,039    $ 15,370    $ 15,575   
EMEA 37,133    22,361    19,610   
APAC 18,286    22,863    14,839   
Total revenues $ 68,458    $ 60,594    $ 50,024   
Schedule of Long-lived Assets by Geographical Area
Identifiable long-lived assets by location and goodwill by reporting unit as of year-end were as follows (in thousands):
  December 31,
  2019 2018
Long-lived assets
United States $ 6,282    $ 4,759   
Schedule of Goodwill
Year Ended December 31, 2019 Year Ended December 31, 2018
Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total
Goodwill $ 2,463    $ 778    $ 3,241    $ 2,463    $ 778    $ 3,241