Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2019						Three months ended June 30, 2018
(in thousands)	Performance Enzymes		Novel Biotherapeutics		Total		Performance Enzymes		Novel Biotherapeutics		Total
Major products and service:
Product Revenue	$	6,249	$	—	$	6,249	$	3,723	$	—	$	3,723
Research and development revenue	4,340		1,730		6,070		7,442		2,373		9,815
Total revenues	$	10,589	$	1,730	$	12,319	$	11,165	$	2,373	$	13,538

Primary geographical markets:
Americas	$	4,076	$	—	$	4,076	$	6,058	$	—	$	6,058
EMEA	3,011		1,730		4,741		1,435		2,373		3,808
APAC	3,502		—		3,502		3,672		—		3,672
Total revenues	$	10,589	$	1,730	$	12,319	$	11,165	$	2,373	$	13,538



	Six months ended June 30, 2019						Six months ended June 30, 2018
(in thousands)	Performance Enzymes		Novel Biotherapeutics		Total		Performance Enzymes		Novel Biotherapeutics		Total
Major products and service:
Product Revenue	$	14,236	$	—	$	14,236	$	9,886	$	—	$	9,886
Research and development revenue	6,440		7,225		13,665		12,008		5,686		17,694
Total revenues	$	20,676	$	7,225	$	27,901	$	21,894	$	5,686	$	27,580

Primary geographical markets:
Americas	$	6,913	$	—	$	6,913	$	9,655	$	—	$	9,655
EMEA	5,241		7,225		12,466		3,114		5,686		8,800
APAC	8,522		—		8,522		9,125		—		9,125
Total revenues	$	20,676	$	7,225	$	27,901	$	21,894	$	5,686	$	27,580

Contract with customer

During the three and six months ended June 30, 2019, we recognized the following revenues (in thousands):



Revenue recognized in the period from:	Three months ended June 30, 2019			Six months ended June 30, 2019
Amounts included in contract liabilities at the beginning of the period:
Performance obligations satisfied	$	1,367		$	3,752
Changes in the period:
Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods	(92		)	43
Performance obligations satisfied from new activities in the period - contract revenue	11,044			24,106
Total revenue	$	12,319		$	27,901

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⁾		June 30, 2019 balance
Contract Assets	$	35	3,510	(3,545	)	$	—
Unbilled receivables, current	$	1,916	2,758	(2,338	)	$	2,336
Unbilled receivables, non-current ⁽²⁾	$	786	—	(786	)	$	—
Contract Costs ⁽²⁾	$	42	—	(38	)	$	4
Contract Liabilities: Deferred Revenue	$	8,288	6,386	(5,574	)	$	9,100

⁽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.

⁽²⁾ Included in non-current assets in our unaudited condensed consolidated balance sheets.

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 June 30, 2019.

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)	Remainder of 2019		2020		2021 and Thereafter		Total
Product Revenue	$	—	$	1,910	$	1,623	$	3,533
Research and development revenue	5,567		—		—		5,567
Total	$	5,567	$	1,910	$	1,623	$	9,100