XML 26 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
Description of Business, Basis of Presentation and Principles of Consolidation
12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Description of Business, Basis of Presentation and Principles of Consolidation

Note 1. Description of Business, Basis of Presentation and Principles of Consolidation

HTG Molecular Diagnostics, Inc. (the “Company”) is a provider of instruments, reagents and services for molecular profiling applications. The Company derives revenue from sales of its HTG EdgeSeq automation system and integrated next-generation sequencing-based HTG EdgeSeq assays, from services including sample processing and custom research use only (“RUO”) assay development and from collaborative development services.

The Company operates in one segment and its customers are located primarily in the United States and Europe. For the year ended December 31, 2018, approximately 69% of the Company’s revenue was generated from sales originated by customers located outside of the United States, compared with 71% for the year ended December 31, 2017. Approximately 84% and 76% of the sales to customers located outside of the United States resulted from collaborative development services revenue generated from the Master Assay Development, Commercialization and Manufacturing Agreement (the “Governing Agreement”), with QIAGEN Manchester Limited (“QML”), a wholly owned subsidiary of QIAGEN N.V. (See Note 16), for the years ended December 31, 2018 and 2017, respectively.

Basis of Presentation

The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Principles of Consolidation

The Company formed a French subsidiary, HTG Molecular Diagnostics France SARL (“HTG France”), in November 2018. The consolidated financial statements include the accounts of the Company and this wholly owned subsidiary after elimination of intercompany transactions and balances as of December 31, 2018.

Reclassifications

Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations.