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Revenue Recognition | 3 Months Ended
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Mar. 31, 2022
Revenue Recognition [Abstract] |
Revenue Recognition | . Revenue Recognition Disaggregation of Revenues The following table disaggregates our product revenue, net by product and geographic region and disaggregates our other revenues by geographic region (in thousands):
|  | Three Months Ended |  |  | Three Months Ended |
|  | March 31, 2022 |  |  | March 31, 2021 |
|  | U.S. |  |  | Non U.S. |  |  | Total |  |  | U.S. |  |  | Non U.S. |  |  | Total |
Product revenue, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HEPLISAV-B |  | $ | 20,810 |  |  | $ | - |  |  | $ | 20,810 |  |  | $ | 8,303 |  |  | $ | - |  |  | $ | 8,303 |
CpG 1018 |  |  | - |  |  |  | 91,517 |  |  |  | 91,517 |  |  |  | - |  |  |  | 74,582 |  |  |  | 74,582 |
Total product revenue, net |  | $ | 20,810 |  |  | $ | 91,517 |  |  | $ | 112,327 |  |  | $ | 8,303 |  |  | $ | 74,582 |  |  | $ | 82,885 |
Other revenue |  |  | 1,606 |  |  |  | 59 |  |  |  | 1,665 |  |  |  | - |  |  |  | 450 |  |  |  | 450 |
Total revenues |  | $ | 22,416 |  |  | $ | 91,576 |  |  | $ | 113,992 |  |  | $ | 8,303 |  |  | $ | 75,032 |  |  | $ | 83,335 |
Revenues from Major Customers and Collaboration Partners The following table summarizes HEPLISAV-B product revenue from each of our three largest Customers (as a percentage of total HEPLISAV-B net product revenue):
|  | Three Months Ended |  |
|  | March 31, |  |
|  | 2022 |  |  | 2021 |  |
Largest Customer |  |  | 25 | % |  |  | 28 | % |
Second largest Customer |  |  | 20 | % |  |  | 26 | % |
Third largest Customer |  |  | 16 | % |  |  | 21 | % |
The following table summarizes CpG 1018 product revenue from each of our three largest collaboration partners (as a percentage of total CpG 1018 adjuvant net product revenue):
|  | Three Months Ended |  |
|  | March 31, |  |
|  | 2022 |  |  | 2021 |  |
Largest collaboration partner |  |  | 74 | % |  |  | 87 | % |
Second largest collaboration partner |  |  | 24 | % |  |  | 9 | % |
Third largest collaboration partner |  |  | 2 | % |  |  | 2 | % |
Contract Balances The following table summarizes balances and activities in HEPLISAV-B product revenue allowance and reserve categories for the three months ended March 31, 2022 (in thousands):
|  | Balance at Beginning of Period |  |  | Provisions related to current period sales |  |  | Credit or payments made during the period |  |  | Balance at End of Period |
Three months ended March 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable reserves(1) |  | $ | 3,823 |  |  | $ | 5,807 |  |  | $ | (4,698 | ) |  | $ | 4,932 |
Revenue reserve accruals(2) |  |  | 8,253 |  |  |  | 4,273 |  |  |  | (4,893 | ) |  |  | 7,633 |
(1) Reserves are for chargebacks, discounts and other fees. (2) Accruals are for returns, rebates and other fees. When we transfer control of CpG 1018 adjuvant that is reserved under the CEPI Agreement, as amended, to Clover, we recognize product revenue and a corresponding contract asset as our right to consideration is conditioned on something other than the passage of time. See Note 6 for further discussion. The following table summarizes balances and activities in our contract asset account (in thousands):
|  | Balance at Beginning of Period |  |  | Additions (1) |  |  | Subtractions |  |  | Balance at End of Period |
Three months ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Contract asset |  | $ | 62,525 |  |  | $ | 8,817 |  |  | $ | - |  |  | $ | 71,342 |
(1) Additions are revenues recognized for CpG 1018 adjuvant transferred to Clover that is reserved under the CEPI Agreement, as amended. Payments received or invoices issued before we satisfy our performance obligations are recorded as deferred revenue until we satisfy such performance obligations. Our deferred revenue activities are related to CpG 1018 adjuvant product sales. The following table summarizes balances and activities in our deferred revenue accounts for the three months ended March 31, 2022 (in thousands):
|  | Balance at Beginning of Period |  |  | Additions (1) |  |  | Subtractions (2) |  |  | Revenue recognized in the current period included in deferred revenue balance at the beginning of the period |  |  | Balance at End of Period |
Three months ended March 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue |  | $ | 349,864 |  |  | $ | 368 |  |  | $ | - |  |  | $ | (37,029 | ) |  | $ | 313,203 |
Long-term deferred revenue |  |  | 5,385 |  |  |  | 6,582 |  |  |  | (11,967 | ) |  |  | - |  |  |  | - |
(1) Additions are primarily payments received or invoices issued before we satisfy our performance obligations. Subtractions are primarily revenues recognized in the period included in deferred revenue during the period and reclassification from long-term deferred revenue to accrued liabilities.

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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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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