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Revenue (Tables) | 9 Months Ended
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Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
Schedule of disaggregated revenues | The tables below show the Company’s disaggregated revenue for the periods presented:
| Three Months Ended September 30, |  |
| 2021 |  | 2020 |  |
Subscription revenues | $ | 246,467 |  |  | $ | 222,069 |  |  |
Transactional revenues | 85,354 |  |  | 64,398 |  |  |
Re-occurring revenues | 110,368 |  |  | — |  |  |
Total revenues, gross | 442,189 |  |  | 286,467 |  |  |
Deferred revenues adjustment (1) | (72) |  |  | (2,107) |  |  |
Total revenues, net | $ | 442,117 |  |  | $ | 284,360 |  |  |
(1) Reflects the deferred revenue adjustment as a result of purchase accounting. |  |  |  |  |
| Nine Months Ended September 30, |  |
| 2021 |  | 2020 |  |
Subscription revenues | $ | 725,121 |  |  | $ | 631,873 |  |  |
Transactional revenues | 259,300 |  |  | 174,000 |  |  |
Re-occurring revenues | 336,236 |  |  | — |  |  |
Total revenues, gross | 1,320,657 |  |  | 805,873 |  |  |
Deferred revenues adjustment (1) | (4,465) |  |  | (7,421) |  |  |
Total revenues, net | $ | 1,316,192 |  |  | $ | 798,452 |  |  |
(1) Reflects the deferred revenue adjustment as a result of purchase accounting.
The following table summarizes revenue by reportable segment for the periods indicated:
| Three Months Ended September 30, |  |
| 2021 |  | 2020 |  |
Science Segment | $ | 200,821 |  |  | $ | 188,701 |  |  |
Intellectual Property Segment | 241,296 |  |  | 95,659 |  |  |
Total Revenues | $ | 442,117 |  |  | $ | 284,360 |  |  |
| Nine Months Ended September 30, |  |
| 2021 |  | 2020 |  |
Science Segment | $ | 594,380 |  |  | $ | 514,774 |  |  |
Intellectual Property Segment | 721,812 |  |  | 283,678 |  |  |
Total Revenues | $ | 1,316,192 |  |  | $ | 798,452 |  |  |
Schedule of contract balances |
| Accounts receivable, net |  | Current portion of deferred revenues |  | Non-current portion of deferred revenues
Opening (1/1/2021) | $ | 737,733 |  |  | $ | 707,318 |  |  | $ | 41,399 |
Closing (09/30/2021) | 610,755 |  |  | 579,935 |  |  | 44,934 |
(Increase)/decrease | $ | 126,978 |  |  | $ | 127,383 |  |  | $ | (3,535) |
Opening (1/1/2020) | $ | 333,858 |  |  | $ | 407,325 |  |  | $ | 19,723 |
Closing (09/30/2020) | 238,638 |  |  | 326,098 |  |  | 24,080 |
(Increase)/decrease | $ | 95,220 |  |  | $ | 81,227 |  |  | $ | (4,357) |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
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