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Segment Reporting | 3 Months Ended
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Mar. 31, 2020
Segment Reporting [Abstract] |
Segment Reporting |
(11) | Segment Reporting
The Company has determined that its chief executive officer (“CEO”) is its chief operating decision maker (“CODM”). The Company’s CEO evaluates the financial performance of the Company based on two reportable segments: Software and Drug Discovery. The Software segment is focused on licensing the Company’s software to transform molecular discovery. The Drug Discovery segment is focused on building a portfolio of preclinical and clinical drug programs, internally and through collaborations. The CODM reviews segment performance and allocates resources based upon segment revenue and segment gross profit of the Software and Drug Discovery reportable segments. Segment gross profit is derived by deducting operational expenditures, with the exception of research and development, sales and marketing, and general and administrative activities from U.S. GAAP revenue. Operational expenditures are expenditures made that are directly attributable to the reportable segment. These expenditures are allocated to the segments based on headcount. The reportable segment expenditures include compensation, supplies, and services from contract research organizations. Certain cost items are not allocated to the Company’s reportable segments. These cost items primarily consist of compensation and general operational expenses associated with the Company’s research and development, sales and marketing, and general and administrative. These costs are incurred by both segments and due to the integrated nature of the Company’s Software and Drug Discovery segments, any allocation methodology would be arbitrary and provide no meaningful analysis. All segment revenue is earned in the United States and there are no intersegment revenues. Additionally, the Company reports assets on a consolidated basis and does not allocate assets to its reportable segments for purposes of assessing segment performance or allocating resources. Presented below is financial information with respect to the Company’s reportable segments for the periods presented:
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
Segment revenues: |  |  |  |  |  |  |  |
Software |  | $ | 23,812 |  |  | $ | 18,605 |
Drug discovery |  |  | 2,362 |  |  |  | 2,136 |
Total segment revenues |  | $ | 26,174 |  |  | $ | 20,741 |
Segment gross profit: |  |  |  |  |  |  |  |
Software |  | $ | 19,811 |  |  | $ | 15,472 |
Drug discovery |  |  | (4,186 | ) |  |  | (2,468 | )
Total segment gross profit |  |  | 15,625 |  |  |  | 13,004 |
Unallocated: |  |  |  |  |  |  |  |
Research and development expense |  |  | (13,700 | ) |  |  | (8,438 | )
Sales and marketing expense |  |  | (4,789 | ) |  |  | (5,093 | )
General and administrative expense |  |  | (8,936 | ) |  |  | (5,086 | )
Change in fair value |  |  | (3,079 | ) |  |  | (627 | )
Interest income |  |  | 699 |  |  |  | 438 |
Income tax expense |  |  | (91 | ) |  |  | (46 | )
Consolidated net loss |  | $ | (14,271 | ) |  | $ | (5,848 | )
The following table sets forth revenues by geographic area for the three months ended March 31, 2020 and 2019:
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
United States |  | $ | 13,486 |  |  | $ | 9,872 |
Europe |  |  | 8,281 |  |  |  | 6,440 |
Japan |  |  | 1,970 |  |  |  | 2,664 |
Rest of World |  |  | 2,437 |  |  |  | 1,765 |
|  | $ | 26,174 |  |  | $ | 20,741 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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