Quarterly report pursuant to Section 13 or 15(d)

Segment, Geographical and Other Revenue Information (Tables)

v3.22.2
Segment, Geographical and Other Revenue Information (Tables)
 6 Months Ended
Jun. 30, 2022
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 June 30, 2022 Three Months Ended June 30, 2021
Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total
Revenues:
Product revenue $ 34,645  $ —  $ 34,645  $ 14,717  $ —  $ 14,717 
Research and development revenue 1,885  1,876  3,761  6,868  3,868  10,736 
Total revenues 36,530  1,876  38,406  21,585  3,868  25,453 
Costs and operating expenses:
Cost of product revenue 11,270  —  11,270  4,318  —  4,318 
Research and development(1)
6,929  11,078  18,007  5,057  7,194  12,251 
Selling, general and administrative(1)
3,876  680  4,556  3,170  620  3,790 
Total segment costs and operating expenses 22,075  11,758  33,833  12,545  7,814  20,359 
Income (loss) from operations $ 14,455  $ (9,882) 4,573  $ 9,040  $ (3,946) 5,094 
Corporate costs (2)
(5,789) (8,610)
Unallocated depreciation and amortization (1,316) (741)
Loss before income taxes $ (2,532) $ (4,257)
Six Months Ended June 30, 2022 Six Months Ended June 30, 2021
Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total
Revenues:
Product revenue $ 65,335  $ —  $ 65,335  $ 24,943  $ —  $ 24,943 
Research and development revenue 4,294  4,117  8,411  10,872  7,670  18,542 
Total revenues 69,629  4,117  73,746  35,815  7,670  43,485 
Costs and operating expenses:
Cost of product revenue 19,791  —  19,791  8,536  —  8,536 
Research and development(1)
13,051  23,424  36,475  11,502  11,799  23,301 
Selling, general and administrative(1)
7,416  1,400  8,816  5,988  1,221  7,209 
Total segment costs and operating expenses 40,258  24,824  65,082  26,026  13,020  39,046 
Income (loss) from operations $ 29,371  $ (20,707) 8,664  $ 9,789  $ (5,350) 4,439 
Corporate costs (2)
(16,994) (16,335)
Unallocated depreciation and amortization (2,549) (1,426)
Loss before income taxes $ (10,879) $ (13,322)
(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 expenses, interest income, and other income (expense), net.
The following table provides stock-based compensation expense included in income (loss) from operations (in thousands):
Three Months Ended June 30,
2022 2021
Performance Enzymes Novel Biotherapeutics Corporate cost Total Performance Enzymes Novel Biotherapeutics Corporate cost Total
Stock-based compensation $ 1,283  $ 358  $ 1,590  $ 3,231  $ 1,115  $ 257  $ 1,472  $ 2,844 
Six Months Ended June 30,
2022 2021
Performance Enzymes Novel Biotherapeutics Corporate cost Total Performance Enzymes Novel Biotherapeutics Corporate cost Total
Stock-based compensation $ 2,770  $ 768  $ 3,531  $ 7,069  $ 2,109  $ 495  $ 2,927  $ 5,531 
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 June 30, Six Months Ended June 30,
2022 2021 2022 2021
Customer A 62  % 15  % 62  % 10  %
Customer B * 12  % * 13  %
Customer C * 12  % * *
Customer D * * * 17  %
Customer E * * * 10  %
* Percentage was less than 10%
Customers that each accounted for 10% or more of accounts receivable balances as of the periods presented as follows:
Percentage of Accounts Receivables as of
June 30, 2022 December 31, 2021
Customer A 67  % 62  %
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 June 30, Six Months Ended June 30,
2022 2021 2022 2021
Revenues
Americas $ 3,614  $ 5,844  $ 7,347  $ 10,773 
EMEA 4,690  6,169  8,817  12,450 
APAC 30,102  13,440  57,582  20,262 
Total revenues $ 38,406  $ 25,453  $ 73,746  $ 43,485 
Schedule of Long-Lived Assets by Geographical Area Identifiable long-lived assets by location was as follows (in thousands):
June 30, 2022 December 31, 2021
United States $ 65,400  $ 65,457 
Schedule of Intangible Assets and Goodwill Identifiable goodwill by reporting unit was as follows (in thousands):
As of June 30, 2022 and December 31, 2021
Performance Enzymes Novel Biotherapeutics Total
Goodwill $ 2,463  $ 778  $ 3,241