Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2018

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 September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Product sales	$	539,856	$	729,742	$	1,805,877	$	2,145,371
Laboratory services		12,365		9,070		22,155		41,025
Collaboration revenue		—		6,302		359,316		33,699
Total revenue	$	552,221	$	745,114	$	2,187,348	$	2,220,095

Deferred Revenue

Changes in deferred revenue for the period were as follows:

Balance at December 31, 2017	$	24,442
Revenue recognized in the current period from the amounts in the beginning balance		(14,119	)
New deferrals, net of amounts recognized in the current period		—
Balance at September 30, 2018	$	10,323

Contract Assets

The Company had contract assets of $51,575 as of September 30, 2018, 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

Remaining contract consideration for which revenue has not been recognized due to unsatisfied performance obligations was $156,700 at September 30, 2018, which the Company expects to recognize over the next three months.