Revenues and Trade Receivables, Net

12 Months Ended

Dec. 31, 2021

Revenues and Trade Receivables, Net [Abstract]

The Company’s revenue was comprised of the following:


	Year Ended December 31,
	2021		2020
Manufacture and supply revenue	$	35,312	$	24,881
License and royalty revenue	5,380		14,055
Co-development and research fees	1,635		1,264
Proprietary product sales, net	8,505		5,649
Revenues	$	50,832	$	45,849

Disaggregation of Revenue

The following table provides disaggregated net revenue by geographic area:


	Year Ended December 31,
	2021		2020
United States	$	42,860	$	40,956
Ex-United States	7,972		4,893
Revenues	$	50,832	$	45,849

Ex-United States revenues are derived primarily from Indivior for product manufactured for markets outside of the United States.

Trade and other receivable, net consist of the following:


	December 31,
	2021		2020
Accounts receivable	$	9,678	$	4,330
Contract and other receivables	3,087		3,081
Less: allowance for bad debt	(40)		(40)
Less: sales-related allowances	(605)		(416)
Trade and other receivables, net	$	12,120	$	6,955

Contract and other receivables totaled $3,087 and $3,081 as of December 31, 2021 and 2020, 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-related allowances for both periods presented are estimated in relation to revenues recognized for sales of Sympazan.

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


	December 31,
	2021		2020
Allowance for doubtful accounts at beginning of year	$	40	$	124
Additions charged to bad debt expense	—		198
Write-downs charged against the allowance	—		(282)
Allowance for doubtful accounts at end of year	$	40	$	40

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


	December 31,
	2021		2020
Balance at December 31, 2020	$	416	$	203
Provision related to sales in 2021	1,209		731
Credits and payments	(1,020)		(518)
Balance at December 31, 2021	$	605	$	416

Concentration of Major Customers

Customers are considered major customers when net revenue exceeds 10% of total revenue for the period or outstanding receivable balances exceed 10% of total receivables. For the year ended December 31, 2021, Indivior Inc. ("Indivor") exceeded the 10% threshold for revenue and represented approximately 73% of total revenue. As of December 31, 2021, two customers exceeded the 10% threshold for outstanding receivables which were Indivior and Cardinal Health Inc. which represented 51% and 12%, respectively, of of total trade and other receivables.

For the year ended December 31, 2020, two customers exceeded the 10% threshold for revenue which were Indivior and Sunovion Pharmaceuticals Inc. (“Sunovion”) that represented 57% and 26%, respectively. As of December 31, 2020, four customers exceeded the 10% threshold for outstanding receivables which were Indivior, AmerisourceBergen Corporation, Sunovion, and Cardinal Health Inc. which represented 53%, 14%, 13%, and 10%, respectively, of total trade and other receivables.