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Revenue from Contracts with Customers (Tables)
9 Months Ended
Sep. 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 nine months ended September 30, 2022 and 2021 as follows:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Product revenue:

 

 

 

 

 

 

 

 

 

 

 

 

     Instrument

 

$

62,488

 

 

$

407,130

 

 

$

433,486

 

 

$

1,028,348

 

     Consumables

 

 

509,994

 

 

 

793,542

 

 

 

1,811,463

 

 

 

2,265,894

 

Total product revenue

 

 

572,482

 

 

 

1,200,672

 

 

 

2,244,949

 

 

 

3,294,242

 

Product-related services revenue:

 

 

 

 

 

 

 

 

 

 

 

 

     Custom RUO assay design

 

 

 

 

 

 

 

 

 

 

 

48,350

 

     RUO sample processing

 

 

678,397

 

 

 

1,319,738

 

 

 

1,681,966

 

 

 

2,687,168

 

Total product-related services revenue

 

 

678,397

 

 

 

1,319,738

 

 

 

1,681,966

 

 

 

2,735,518

 

Total product and product-related services revenue

 

$

1,250,879

 

 

$

2,520,410

 

 

$

3,926,915

 

 

$

6,029,760

 

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

 

 

224,942

 

 

 

42,697

 

 

 

267,639

 

Recognition of deferred revenue

 

 

(220,420

)

 

 

(67,872

)

 

 

(288,292

)

Balance as of September 30, 2022

 

$

133,051

 

 

$

5,446

 

 

$

138,497

 

 

 

 

Product
Revenue

 

 

Sample
Processing

 

 

Total Contract
Liability

 

Balance at January 1, 2021

 

$

103,580

 

 

$

93,884

 

 

$

197,464

 

Deferral of revenue

 

 

261,100

 

 

 

525,899

 

 

 

786,999

 

Recognition of deferred revenue

 

 

(198,438

)

 

 

(535,501

)

 

 

(733,939

)

Balance as of September 30, 2021

 

$

166,242

 

 

$

84,282

 

 

$

250,524