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Revenue from Contracts with Customers (Tables)
12 Months Ended
Dec. 31, 2019
Revenue From Contract With Customer [Abstract]  
Product and Product-Related Service Revenue from Sale of Instruments and Consumables

Product and Product-related Services Revenue

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 years ended December 31, 2019 and 2018 as follows:

 

 

 

Years Ended December 31,

 

 

 

2019

 

 

2018

 

Product revenue:

 

 

 

 

 

 

 

 

     Instruments

 

$

1,436,730

 

 

$

     351,885

 

     Consumables

 

 

3,010,094

 

 

 

  1,964,499

 

Total product revenue

 

$

4,446,824

 

 

$

2,316,384

 

Product-related services revenue:

 

 

 

 

 

 

 

 

     Custom RUO assay design

 

 

4,498,088

 

 

 

964,241

 

     RUO sample processing

 

 

5,687,292

 

 

 

5,840,765

 

Total product-related services revenue

 

 

10,185,380

 

 

 

6,805,006

 

Total product and product-related services revenue

 

$

14,632,204

 

 

$

9,121,390

 

Schedule of Collaborative Development Services

Collaborative Development Services Revenue

The Company enters into collaborative development services agreements with biopharmaceutical companies for the development of NGS-based companion diagnostic assays in support of and in conjunction with, biopharmaceutical companies’ drug development programs. These collaborative development services agreements may generate upfront fees, and in some cases subsequent milestone payments that may be earned upon completion of certain product development milestones or activities. Collaborative development services revenue for the years ended December 31, 2019 and 2018 was generated through statements of work entered into under the Governing Agreement with QML as discussed below.

 

 

 

Years Ended December 31,

 

 

 

2019

 

 

2018

 

Collaborative development services

 

$

4,571,684

 

 

$

12,382,504

 

Schedule of Changes in Contract Liability

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

 

 

 

Product

Revenue

 

 

Custom RUO

Assay Design

 

 

Sample

Processing

 

 

Total Contract

Liability

 

Balance at January 1, 2019

 

$

116,547

 

 

$

50,000

 

 

$

244,400

 

 

$

410,947

 

Deferral of revenue

 

 

218,802

 

 

 

972,267

 

 

 

529,913

 

 

 

1,720,982

 

Recognition of deferred revenue

 

 

(240,201

)

 

 

(956,051

)

 

 

(336,223

)

 

 

(1,532,475

)

Balance at December 31, 2019

 

$

95,148

 

 

$

66,216

 

 

$

438,090

 

 

$

599,454

 

 

 

 

 

Product

Revenue

 

 

Custom RUO

Assay Design

 

 

Sample

Processing

 

 

Collaborative

Development

Services

 

 

Total Contract

Liability

 

Balance at January 1, 2018

 

$

39,426

 

 

$

197,606

 

 

$

490,536

 

 

$

110,317

 

 

$

837,885

 

Deferral of revenue

 

 

190,703

 

 

 

448,580

 

 

 

197,541

 

 

 

70,918

 

 

 

907,742

 

Customer deposits

 

 

131,864

 

 

 

-

 

 

 

-

 

 

 

 

 

 

131,864

 

Recognition of deferred revenue

 

 

(245,446

)

 

 

(596,186

)

 

 

(443,677

)

 

 

(181,235

)

 

 

(1,466,544

)

Balance at December 31, 2018

 

$

116,547

 

 

$

50,000

 

 

$

244,400

 

 

$

 

 

$

410,947