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Revenue from Contracts with Customers (Tables)
6 Months Ended
Jun. 30, 2022
Revenue from Contract with Customer [Abstract]  
Product and Product-Related Service Revenue from Sale of Instruments and Consumables

The Company had product and product-related services revenue consisting of revenue from the sale of instruments and consumables and the use of the HTG EdgeSeq proprietary technology to process samples and design custom RUO assays for the three and six months ended June 30, 2022 and 2021 as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Product revenue:

 

 

 

 

 

 

 

 

 

 

 

 

     Instrument

 

$

177,812

 

 

$

397,205

 

 

$

370,998

 

 

$

621,218

 

     Consumables

 

 

830,255

 

 

 

867,970

 

 

 

1,301,469

 

 

 

1,472,352

 

Total product revenue

 

 

1,008,067

 

 

 

1,265,175

 

 

 

1,672,467

 

 

 

2,093,570

 

Product-related services revenue:

 

 

 

 

 

 

 

 

 

 

 

 

     Custom RUO assay design

 

 

 

 

 

 

 

 

 

 

 

48,350

 

     RUO sample processing

 

 

483,515

 

 

 

809,029

 

 

 

1,003,569

 

 

 

1,367,430

 

Total product-related services revenue

 

 

483,515

 

 

 

809,029

 

 

 

1,003,569

 

 

 

1,415,780

 

Total product and product-related services revenue

 

$

1,491,582

 

 

$

2,074,204

 

 

$

2,676,036

 

 

$

3,509,350

 

Schedule of Changes in Contract Liability

Changes in the Company’s contract liability were as follows as of the dates indicated:

 

 

Product
Revenue

 

 

Sample
Processing

 

 

Total Contract
Liability

 

Balance at January 1, 2022

 

$

128,529

 

 

$

30,621

 

 

$

159,150

 

Deferral of revenue

 

 

176,009

 

 

 

12,697

 

 

 

188,706

 

Recognition of deferred revenue

 

 

(161,948

)

 

 

(37,872

)

 

 

(199,820

)

Balance as of June 30, 2022

 

$

142,590

 

 

$

5,446

 

 

$

148,036

 

 

 

 

Product
Revenue

 

 

Sample
Processing

 

 

Total Contract
Liability

 

Balance at January 1, 2021

 

$

103,580

 

 

$

93,884

 

 

$

197,464

 

Deferral of revenue

 

 

153,400

 

 

 

350,224

 

 

 

503,624

 

Recognition of deferred revenue

 

 

(130,759

)

 

 

(351,626

)

 

 

(482,385

)

Balance as of June 30, 2021

 

$

126,221

 

 

$

92,482

 

 

$

218,703