Quarterly report pursuant to Section 13 or 15(d)

Segment, Geographical and Other Revenue Information (Tables)

v3.20.2
Segment, Geographical and Other Revenue Information (Tables)
9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Schedule of segment reporting
The following tables provide financial information by our reportable business segments along with a reconciliation to consolidated income (loss) before income taxes (in thousands):
Three months ended September 30, 2020 Three months ended September 30, 2019
Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total
Revenues:
Product revenue $ 8,401  $ —  $ 8,401  $ 10,351  $ —  $ 10,351 
Research and development revenue 4,604  5,380  9,984  10,073  1,482  11,555 
Total revenues 13,005  5,380  18,385  20,424  1,482  21,906 
Costs and operating expenses:
Cost of product revenue 3,642  —  3,642  5,067  —  5,067 
Research and development(1)
5,184  6,433  11,617  5,313  3,080  8,393 
Selling, general and administrative(1)
2,675  515  3,190  2,037  690  2,727 
Total segment costs and operating expenses 11,501  6,948  18,449  12,417  3,770  16,187 
Income (loss) from operations $ 1,504  $ (1,568) (64) $ 8,007  $ (2,288) 5,719 
Corporate costs (2)
(5,483) (4,912)
Depreciation and amortization (528) (471)
Income (loss) before income taxes $ (6,075) $ 336 
(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, 2020 Nine months ended September 30, 2019
Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total
Revenues:
Product revenue $ 18,005  $ —  $ 18,005  $ 24,588  $ —  $ 24,588 
Research and development revenue 13,380  16,638  30,018  16,512  8,708  25,220 
Total revenues 31,385  16,638  48,023  41,100  8,708  49,808 
Costs and operating expenses:
Cost of product revenue 7,882  —  7,882  12,230  —  12,230 
Research and development(1)
15,877  16,848  32,725  14,889  9,252  24,141 
Selling, general and administrative(1)
7,395  1,728  9,123  6,499  1,768  8,267 
Total segment costs and operating expenses 31,154  18,576  49,730  33,618  11,020  44,638 
Income (loss) from operations $ 231  $ (1,938) (1,707) $ 7,482  $ (2,312) 5,170 
Corporate costs (2)
(16,526) (15,185)
Depreciation and amortization (1,526) (1,273)
Loss before income taxes $ (19,759) $ (11,288)
(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 tables provides stock-based compensation expense included in income (loss) from operations (in thousands):

Three months ended September 30,
2020 2019
Performance Enzymes Novel Biotherapeutics Corporate cost Total Performance Enzymes Novel Biotherapeutics Corporate cost Total
Stock-based compensation $ 839  $ 132  $ 1,013  $ 1,984  $ 736  $ 225  $ 771  $ 1,732 
Nine months ended September 30,
2020 2019
Performance Enzymes Novel Biotherapeutics Corporate cost Total Performance Enzymes Novel Biotherapeutics Corporate cost Total
Stock-based compensation $ 2,335  $ 625  $ 3,132  $ 6,092  $ 1,973  $ 563  $ 3,247  $ 5,783 
Schedule of customers that contributed 10% or more of total accounts receivable
Significant Customers
Customers that each accounted for 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,
2020 2019 2020 2019
Customer A 23% 21% 21% 31%
Customer B 15% * 13% 17%
Customer C * 29% 11% 15%
Customer D 14% * 22% *
Customer E 13% * * *
Customers that each accounted for 10% or more of accounts receivable had balances as of the periods presented as follows:
Percentage of Accounts Receivables as of
September 30, 2020 December 31, 2019
Customer A 36% 38%
Customer B 28% 10%
Customer D 14% *
* 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):
  Three Months Ended September 30, Nine months ended September 30,
2020 2019 2020 2019
Revenues
Americas $ 5,841  $ 2,706  $ 17,972  $ 9,620 
EMEA 4,889  12,205  14,175  24,672 
APAC 7,655  6,995  15,876  15,516 
Total revenues $ 18,385  $ 21,906  $ 48,023  $ 49,808 
Schedule of long-lived assets by geographical area
Identifiable long-lived assets by location was as follows (in thousands):
Long-lived assets September 30, 2020 December 31, 2019
United States $ 7,289  $ 6,282 
Schedule of intangible assets and goodwill
Identifiable goodwill was as follows (in thousands):
As of September 30, 2020 and December 31, 2019
Performance Enzymes Novel Biotherapeutics Total
Goodwill $ 2,463  $ 778  $ 3,241