XML 44 R33.htm IDEA: XBRL DOCUMENT v3.20.2
Revenue from Contracts with Customers (Tables)
9 Months Ended
Sep. 30, 2020
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 three and nine months ended September 30, 2020 and 2019 as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Product revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Instruments

 

$

71,742

 

 

$

414,491

 

 

$

563,396

 

 

$

1,100,606

 

     Consumables

 

 

764,605

 

 

 

1,058,386

 

 

 

2,091,848

 

 

 

2,218,674

 

Total product revenue

 

 

836,347

 

 

 

1,472,877

 

 

 

2,655,244

 

 

 

3,319,280

 

Product-related services revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Custom RUO assay design

 

 

238,502

 

 

 

2,129,251

 

 

 

1,210,968

 

 

 

3,978,428

 

     RUO sample processing

 

 

626,219

 

 

 

708,915

 

 

 

1,551,519

 

 

 

4,100,208

 

Total product-related services revenue

 

 

864,721

 

 

 

2,838,166

 

 

 

2,762,487

 

 

 

8,078,636

 

Total product and product-related services revenue

 

$

1,701,068

 

 

$

4,311,043

 

 

$

5,417,731

 

 

$

11,397,916

 

 

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. The Company follows ASC 606, Revenue from Contracts with Customers and ASC 808, Collaborative Arrangements to determine the appropriate recognition of revenue under our collaborative research, development and commercialization agreements that contain multiple elements. For the three and nine months ended September 30, 2020 and 2019, collaborative development services revenue was generated through statements of work entered into under the Governing Agreement with QML as follows:  

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Collaborative development services

 

$

76,030

 

 

$

1,093,750

 

 

$

548,135

 

 

$

3,006,022

 

 

Schedule of Changes in Contract Liability

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

 

 

 

Product

Revenue

 

 

Custom RUO

Assay Design

 

 

Sample

Processing

 

 

Total Contract

Liability

 

Balance at January 1, 2020

 

$

95,148

 

 

$

66,216

 

 

$

438,090

 

 

$

599,454

 

Deferral of revenue

 

 

335,265

 

 

 

459,385

 

 

 

77,104

 

 

 

871,754

 

Recognition of deferred revenue

 

 

(325,181

)

 

 

(525,601

)

 

 

(95,670

)

 

 

(946,452

)

Balance at September 30, 2020

 

$

105,232

 

 

$

 

 

$

419,524

 

 

$

524,756

 

 

 

 

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

 

 

126,425

 

 

 

671,885

 

 

 

463,814

 

 

 

1,262,124

 

Recognition of deferred revenue

 

 

(172,610

)

 

 

(707,641

)

 

 

(229,192

)

 

 

(1,109,443

)

Balance at September 30, 2019

 

$

70,362

 

 

$

14,244

 

 

$

479,022

 

 

$

563,628