Note 12 - Segment Reporting

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

1

2

.  

Segment Reporting

The Company has

two

reportable segments, which are the same as its operating segments:

The Device Segment, engages in the development and commercialization of automated technologies for cell-based therapeutics and bio-processing. The device division is operated through the Company’s ThermoGenesis Corp. subsidiary.

The Clinical Development Segment, utilizes autologous (utilizing the patient’s own cells) stem cell-based therapeutics through the Company’s TotipotentRX subsidiary in Gurgaon, India.

The following table summarizes the operating results of the Company’s reportable segments:

	Year Ended December 31, 2019
	Device			Clinical Development			Total
Net revenues	$	12,957,000		$	90,000		$	13,047,000
Cost of revenues		7,175,000			176,000			7,351,000
Gross profit		5,782,000			(86,000	)		5,696,000
Operating expenses		7,081,000			3,348,000			10,429,000
Operating loss	$	(1,299,000	)	$	(3,434,000	)	$	(4,733,000	)
Depreciation and amortization	$	530,000		$	275,000		$	805,000
Stock-based compensation expense	$	393,000		$	221,000		$	614,000
Goodwill	$	781,000		$	--		$	781,000
Total assets	$	13,420,000		$	1,794,000		$	15,214,000

	Year Ended December 31, 2018
	Device			Clinical Development			Total
Net revenues	$	9,469,000		$	203,000		$	9,672,000
Cost of revenues		7,205,000			274,000			7,479,000
Gross profit		2,264,000			(71,000	)		2,193,000
Operating expenses		8,398,000			37,340,000			45,738,000
Operating loss	$	(6,134,000	)	$	(37,411,000	)	$	(43,545,000	)
Depreciation and amortization	$	398,000		$	272,000		$	670,000
Stock-based compensation expense	$	179,000		$	473,000		$	652,000
Goodwill	$	781,000			--		$	781,000
Total assets	$	10,815,000		$	3,796,000		$	14,611,000

The Company had sales in the following geographical areas for the:

	Year Ended December 31,
	2019		2018
United States	$	6,787,000	$	4,854,000
Asia – other		2,108,000		1,717,000
Europe		1,233,000		1,165,000
China		2,346,000		1,143,000
Other		573,000		793,000
	$	13,047,000	$	9,672,000

The Company attributes revenue to different geographic areas based on where items are shipped, or services are performed.