Deferred Revenue

3 Months Ended

Mar. 31, 2019

DEFERRED REVENUE

Deferred Revenue from Contract with Customers

11. DEFERRED REVENUE

Deferred revenue relates to a prepayment for future royalties on sales of SPEDRA. In the three months ended March 31, 2019 and 2018, the Company recorded $0.3 million and $0.3 million, respectively, of revenues which had been deferred as of December 31, 2018 and 2017, respectively. These amounts were applied against the prepayment for future royalties.