Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue from contracts with customers

Note 4 – Revenue from contracts with customers

Disaggregated revenue

The Company provides diagnostic test products, laboratory services to hospitals, clinical laboratories and other healthcare provider customers, and enters into collaboration agreements with government agencies and healthcare providers. The revenues by type of service consist of the following:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Product sales	$	889,271	$	307,804	$	1,255,323	$	835,383
Laboratory services		20,570		266,784		63,499		450,849
Collaboration revenue		57,364		237,027		118,128		355,099
Total revenue	$	967,205	$	811,615	$	1,436,950	$	1,641,331

Revenues by geography are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Domestic	$	123,659	$	305,617	$	280,069	$	649,624
International		843,546		505,998		1,156,881		991,707
Total revenue	$	967,205	$	811,615	$	1,436,950	$	1,641,331

Deferred revenue

The Company had no deferred revenue at June 30, 2022 and December 31, 2021.

Contract assets

The Company had $51,935 and $0 of contract assets as of June 30, 2022 and December 31, 2021, respectively, which are generated when contractual billing schedules differ from revenue recognition timing. Contract assets represent a conditional right to consideration for satisfied performance obligations that becomes a billed receivable when the conditions are satisfied.

Unsatisfied performance obligations

The Company had no unsatisfied performance obligations related to its contracts with customers at June 30, 2022 and December 31, 2021.