Revenues and Trade Receivables, Net

12 Months Ended

Dec. 31, 2019

Revenues and Trade Receivables, Net [Abstract]

Revenues and Trade Receivables, Net

Note 5. Revenues and Trade Receivables, Net

The Company’s revenue was comprised of the following:

	Year Ended December 31,
	2019		2018
Manufacture and supply revenue	$	38,739	$	37,319
License and royalty revenue		6,959		24,699
Co-development and research fees		4,042		5,184
Proprietary product sales, net		2,869		228
Revenues	$	52,609	$	67,430

Disaggregation of Revenue

The following table provides disaggregated net revenue by geographic area:

	Year Ended December 31,
	2019		2018
United States	$	48,293	$	64,565
Ex-United States		4,316		2,865
Revenues	$	52,609	$	67,430

Ex-United States revenues are derived primarily from products manufactured for the Australian and Malaysian markets and in 2019 includes services provided to a Brazilian customer.

Accounts receivable, net consist of the following:

	December 31,
	2019			2018
Accounts receivable	$	9,094		$	6,610
Contract and other receivables		4,363			33
Less: allowance for bad debt		(124	)		(58	)
Less: sales-related allowances		(203	)		(104	)
Trade and other receivables, net	$	13,130		$	6,481

Other receivables totaled $4,363 and $33 as of December 31, 2019 and 2018, respectively, consisting primarily of contract assets and reimbursable costs incurred on behalf of customers. Contract assets consist of products and services provided under specific contracts to customers for which earnings processes have been met prior to shipment of goods or full delivery of completed services. Sales allowances are estimated in relation to revenues recognized for sales of Sympazan beginning with the launch of this product in December 2018.

The following table presents the changes in the allowance for bad debt:

	December 31,
	2019			2018
Allowance for doubtful accounts at beginning of year	$	58		$	55
Additions charged to bad debt expense		66			53
Write-downs charged against the allowance		(—	)		(50	)
Recoveries of amounts previously reserved		—			—
Allowance for doubtful accounts at end of year	$	124		$	58

The following table presents the changes in sales-related allowances:

	December 31,
	2019			2018
Balance at December 31, 2018	$	104		$	—
Provision related to sales in 2019		244			104
Credits and payments		(145	)		—
Balance at December 31, 2019	$	203		$	104

Concentration of Major Customers

Customers are considered major customers when sales exceed 10% of total net sales for the period or outstanding receivable balances exceed 10% of total receivables. For the years ended December 31, 2019, and 2018, Indivior, Inc. (“Indivior”) represented approximately 86% and 89% of the total revenues for each period, respectively. As of December 31, 2019, and 2018, the Company’s outstanding receivable balance from Indivior represented approximately 80% and 78% of gross receivables for each period, respectively.