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Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
Disaggregation of revenue
Segment information for fiscal year 2018 is as follows (in thousands):
 
Year Ended December 31, 2018
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
Major products and service:
 
 
 
 
 
       Product Revenue
$
25,590

 
$
—

 
$
25,590

Research and development revenue
21,483

 
13,521

 
35,004

Total revenues
$
47,073

 
$
13,521

 
$
60,594

 
 
 
 
 
 
Primary geographical markets:
 
 
 
 
 
Americas
$
15,332

 
$
38

 
$
15,370

EMEA
8,878

 
13,483

 
22,361

APAC
22,863

 
—

 
22,863

Total revenues
$
47,073

 
$
13,521

 
$
60,594


Segment information for fiscal year 2017 is as follows (in thousands):
 
Year Ended December 31, 2017
 
Performance Enzymes
 
Novel Biotherapeutics
 
Total
Major products and service:
 
 
 
 
 
       Product Revenue
$
26,685

 
$
—

 
$
26,685

Research and development revenue
15,648

 
7,691

 
23,339

Total revenues
$
42,333

 
$
7,691

 
$
50,024

 
 
 
 
 
 
Primary geographical markets:
 
 
 
 
 
Americas
$
15,575

 
$
—

 
$
15,575

EMEA
11,919

 
7,691

 
19,610

APAC
14,839

 
—

 
14,839

Total revenues
$
42,333

 
$
7,691

 
$
50,024
Contract with customer
The following table presents changes in the contract assets, unbilled receivable, contract costs, and contract liabilities (in thousands):
 
January 1, 2018 balance
 
Additions
 
Deductions (1)
 
December 31, 2018
Contract Assets
$
—

 
8,934

 
(8,899
)
 
$
35

Unbilled receivables, current
$
—

 
2,908

 
(992
)
 
$
1,916

Unbilled receivables, non-current
$
—

 
786

 
—

 
$
786

Contract Costs
$
239

 
—

 
(197
)
 
$
42

Contract Liabilities: Deferred Revenue
$
18,966

 
6,446

 
(17,124
)
 
$
8,288

(1) The asset or liability balances are presented as a net position per contract and accordingly the deductions column includes the netting effect of presenting each contract on a net position basis as either a net liability or asset.
During the year ended December 31, 2018, we recognized the following revenues (in thousands):
Revenue recognized in the period for:
Year Ended December 31, 2018
Amounts included in contract liabilities at the beginning of the period:
 
     Performance obligations satisfied
$
13,615

Changes in the period:
 
Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods
374

Performance obligations satisfied from new activities in the period - contract revenue
46,605

Total revenue
$
60,594

The following table shows the reconciliation of contract liabilities from what was disclosed in the Form 10-K for the year ended December 31, 2017 and gives effect to the modified retrospective adoption of the revenue guidance on January 1, 2018 (in thousands):

 
Balance
Deferred Revenue, balance at December 31, 2017
$
13,793

Changes in estimated consideration
—

Unsatisfied performance obligations
$
5,173

Deferred Revenue, balance at January 1, 2018
$
18,966
Performance obligation, expected timing of satisfaction
The balances in the table below are partially based on judgments involved in estimating future orders from customers subject to the exercise of material rights pursuant to respective contracts (in thousands):
 
2019
 
2020
 
2021
 
2022 and Thereafter
 
Total
Product Revenue
$
2,201

 
$
1,729

 
$
1,623

 
$
—

 
$
5,553

Research and development revenue
2,735

 
—

 
—

 
—

 
2,735

Total revenues
$
4,936

 
$
1,729

 
$
1,623

 
$
—

 
$
8,288
Impact of adoption on financial statements
In accordance with ASC 606, the disclosure of the impact of adoption to our consolidated statements of operations and balance sheets was as follows (in thousands, except per share amounts):
 
Year Ended December 31, 2018
 
As reported

Adjustments

Balances without adoption of
ASC 606
Revenues:





Product revenue
$
25,590


$
(3,422
)

$
22,168

Research and development revenue
35,004


(1,609
)

33,395

Total revenues
60,594


(5,031
)

55,563

Costs and operating expenses:





Cost of product revenue
12,620


(285
)

12,335

Research and development
29,978


(196
)

29,782

Selling, general and administrative
29,291


—


29,291

Total costs and operating expenses
71,889


(481
)

71,408

Loss from operations
(11,295
)

(4,550
)

(15,845
)
Interest income
671


—


671

Other expenses
(291
)

—


(291
)
Loss before income taxes
(10,915
)

(4,550
)

(15,465
)
Provision for (benefit from) income taxes
(37
)

—


(37
)
Net loss
$
(10,878
)

$
(4,550
)

$
(15,428
)









Net loss per share, basic and diluted
$
(0.21
)

$
(0.09
)

$
(0.30
)
Weighted average common shares used in computing net loss per share, basic and diluted
52,205




52,205


 
December 31, 2018
 
As reported

Adjustments

Balances without adoption of
ASC 606
Assets





Accounts receivable
$
11,551


$
(1,253
)

$
10,298

Unbilled receivables, current
1,916


(1,916
)

—

Contract assets
35


(35
)

—

Inventories
589


1


590

Unbilled receivables, non-current
786

 
(786
)
 
—

Other non-current assets
265


(42
)

223

Liabilities





Other accrued liabilities
4,855


(520
)

4,335

Deferred revenue - current
4,936


(1,574
)

3,362

Deferred revenue - non-current
3,352


(1,445
)

1,907

Stockholders' equity








Accumulated deficit
(330,474
)

(492
)

(330,966
)