Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

The following table provides information about disaggregated revenue from contracts with customers, the nature of the products and services and geographic regions, and includes a reconciliation of the disaggregated revenue with reportable segments. The geographic regions that are tracked are the Americas (United States, Canada, Latin America), EMEA (Europe, Middle East, Africa), and APAC (Australia, New Zealand, Southeast Asia, China).



	Three months ended March 31, 2019						Three months ended March 31, 2018
(in thousands)	Performance Enzymes		Novel Biotherapeutics		Total		Performance Enzymes		Novel Biotherapeutics		Total
Major products and service:
Product Revenue	$	7,988	$	—	$	7,988	$	6,163	$	—	$	6,163
Research and development revenue	2,099		5,496		7,595		4,566		3,313		7,879
Total revenues	$	10,087	$	5,496	$	15,583	$	10,729	$	3,313	$	14,042

Primary geographical markets:
Americas	$	2,838	$	—	$	2,838	$	3,597	$	—	$	3,597
EMEA	2,230		5,496		7,726		1,679		3,313		4,992
APAC	5,019		—		5,019		5,453		—		5,453
Total revenues	$	10,087	$	5,496	$	15,583	$	10,729	$	3,313	$	14,042

Contract with customer

The following table presents changes in the contract assets, unbilled receivables, contract costs, and contract liabilities (in thousands):



	January 1, 2019 balance		Additions	Deductions ⁽¹⁾		March 31, 2019 balance
Contract Assets	$	35	1,813	(1,848	)	$	—
Unbilled receivables, current	$	1,916	423	(416	)	$	1,923
Unbilled receivables, non-current	$	786	—	—		$	786
Contract Costs	$	42	—	(28	)	$	14
Contract Liabilities: Deferred Revenue	$	8,288	1,386	(4,323	)	$	5,351

⁽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 three months ended March 31, 2019, we recognized the following revenues (in thousands):



Revenue recognized in the period from:	Three months ended March 31, 2019
Amounts included in contract liabilities at the beginning of the period:
Performance obligations satisfied	$	2,385
Changes in the period:
Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods	136
Performance obligations satisfied from new activities in the period - contract revenue	13,062
Total revenue	$	15,583

Performance obligation, expected timing of satisfaction

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. The estimated revenue does not include contracts with original durations of one year or less, amounts of variable consideration attributable to royalties, or contract renewals that are unexercised as of March 31, 2019. We did not recognize any revenue from performance obligations satisfied in previous periods.

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 and Thereafter		Total
Product Revenue	$	—	$	2,409	$	1,623	$	4,032
Research and development revenue	1,319		—		—		1,319
Total	$	1,319	$	2,409	$	1,623	$	5,351