Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.21.1
Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]  
Disaggregation of revenue
Segment information is as follows (in thousands):
Three months ended March 31, 2021 Three months ended March 31, 2020
Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total
Major products and service:
       Product Revenue $ 10,226  $ —  $ 10,226  $ 5,100  $ —  $ 5,100 
Research and development revenue 4,003  3,803  7,806  5,774  3,796  9,570 
Total revenues $ 14,229  $ 3,803  $ 18,032  $ 10,874  $ 3,796  $ 14,670 
Primary geographical markets:
Americas
$ 2,871  $ 2,058  $ 4,929  $ 2,999  $ 2,226  $ 5,225 
EMEA
4,537  1,745  6,282  4,401  1,570  5,971 
APAC
6,821  —  6,821  3,474  —  3,474 
Total revenues $ 14,229  $ 3,803  $ 18,032  $ 10,874  $ 3,796  $ 14,670 
Contract with customer
The following table presents balances of contract assets, unbilled receivables, contract costs, and contract liabilities (in thousands):
March 31, 2021 December 31, 2020
Contract assets $ 5,143  $ 4,526 
Unbilled receivables $ 11,298  $ 10,942 
Contract costs $ 58  $ 90 
Contract liabilities: deferred revenue $ 4,797  $ 4,791 
We recognized the following revenues (in thousands):
Three months ended March 31,
Revenue recognized in the period for: 2021 2020
Amounts included in contract liabilities at the beginning of the period:
     Performance obligations satisfied $ 862  $ 57 
Changes in the period:
Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods $ 24  $ (643)
Performance obligations satisfied from new activities in the period - contract revenue 17,146  15,256 
Total revenues $ 18,032  $ 14,670 
Performance obligation, expected timing of satisfaction
The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting periods. The estimated revenue does not include contracts with original durations of one year or less, amounts of variable consideration attributable to royalties, or contract renewals that are unexercised as of March 31, 2021.
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 as of March 31, 2021 (in thousands):
Remainder of 2021 2022 2023 2024 and Thereafter Total
Product Revenue $ 400  $ 67  $ 431  $ 1,923  $ 2,821 
Research and development revenue 1,430  —  546  —  1,976 
Total revenues $ 1,830  $ 67  $ 977  $ 1,923  $ 4,797