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Revenue from Contracts with Customers | 12 Months Ended
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Dec. 31, 2019
Revenue from Contracts with Customers |
Revenue from Contracts with Customers | Note 8. Revenue from Contracts with Customers The Company’s net sales are generated primarily from sales of iStent products to customers, and following the Avedro Merger on November 21, 2019, sales of Photrexa and associated drug formulations as well as KXL and Mosaic systems. Customers are primarily comprised of ambulatory surgery centers, hospitals and physician private practices, with distributors being used in certain international locations where the Company currently does not have a direct commercial presence. Revenue is recognized in an amount that reflects the consideration the Company expects to be entitled to in exchange for goods or services, and all of the Company’s net sales are considered revenue from contracts with customers. Disaggregation of Revenue The Company’s revenues disaggregated by product category, for the years ended December 31, 2019, December 31, 2018 and December 31, 2017 was as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | December 31,
​ | ​ | 2019 | ​ | 2018 | ​ | 2017
​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Glaucoma |  | $ | 230,967 | ​ | $ | 181,278 |  | $ | 159,254
Corneal Health | ​ | ​ | 6,017 | ​ |  | — | ​ |  | —
Total |  | $ | 236,984 | ​ | $ | 181,278 | ​ | $ | 159,254
​ The following table presents the Company’s revenues disaggregated by geography for the years ended December 31, 2019, December 31, 2018 and December 31, 2017 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended |
​ | ​ | December 31, |
Geographic net sales information (in thousands) | ​ | 2019 | ​ | 2018 | ​ | 2017 |
​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
United States |  | $ | 192,456 | ​ | $ | 151,677 |  | $ | 140,902 | ​
International | ​ | ​ | 44,528 | ​ |  | 29,601 | ​ |  | 18,352 | ​
Total net sales |  | $ | 236,984 | ​ | $ | 181,278 | ​ | $ | 159,254 | ​
​ Contract Balances Contract Assets ​ Amounts are recorded as accounts receivable when the Company’s right to consideration becomes unconditional. Payment terms on invoiced amounts are typically 30 days for iStent and corneal health products, though extended payment terms on corneal health products may be offered. However the Company does not consider any significant financing components in customer contracts given the expected time between transfer of the promised products and the payment of the associated consideration is less than one year. As of December 31, 2019 and December 31, 2018, all amounts included in accounts receivable, net on the consolidated balance sheets are related to contracts with customers. ​ Sales commissions earned on U.S. sales of KXL systems are capitalized as the commissions represent costs to obtain a contract and the amortization period is deemed greater than one year. These costs are deferred in other assets on the Company’s consolidated balance sheet, net of the short term portion included in prepaid assets and other current assets, and are amortized as a sales and marketing expense on a straight-line basis over the expected period of benefit. Capitalized sales commissions and the related amortization expense included in the consolidated financial statements were immaterial as of December 31, 2019, and were not presented in the consolidated financial statements as of December 31, 2018. ​ Aside from the aforementioned contract assets, the Company does not have any contract assets given that the Company does not have any unbilled receivables and sales commissions on other products are expensed within selling, general and administrative expenses within the consolidated statement of operations when incurred as any incremental cost of obtaining contracts with customers would have an amortization period of less than one year. ​ Contract Liabilities ​ Contract liabilities reflect consideration received from customers’ purchases allocated to the Company’s future performance obligations. ​ The Company has a performance obligation to issue a rebate to customers who may be eligible for a rebate at the conclusion of their contract term. This performance obligation is transferred over time and the Company’s method of measuring progress is the output method, whereby the progress is measured by the estimated rebate earned to date over the total rebate estimated to be earned over the contract period. The Company’s rebate allowance is included in accrued liabilities in the consolidated balance sheets and estimated rebates accrued were not material during the periods presented. ​ Additionally, in the U.S. the Company has a performance obligation related to its customers’ right to a future discount on single dose pharmaceutical purchases, and, to a lesser extent, extended warranty service contracts. As of December 31, 2019, the amount allocated to the customers’ right to a future discount and is expected to be recognized when the customer elects to utilize the discount, which is generally within one year, was immaterial, as was the amount allocated to extended warranty service contracts. ​ During the year ended December 31, 2019, the Company did not recognize any revenue related to material changes in transaction prices regarding its contracts with customers and did not recognize any material changes in revenue related to amounts included in contract liabilities at the beginning of the period.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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