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Revenue Recognition | 3 Months Ended
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Mar. 31, 2023
Revenue Recognition [Abstract] |
Revenue Recognition | 8. 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, 2023 |  |  | March 31, 2022 |
|  | U.S. |  |  | Non U.S. |  |  | Total |  |  | U.S. |  |  | Non U.S. |  |  | Total |
Product revenue, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HEPLISAV-B |  | $ | 43,451 |  |  | $ | - |  |  | $ | 43,451 |  |  | $ | 20,810 |  |  | $ | - |  |  | $ | 20,810 |
CpG 1018 adjuvant |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 91,517 |  |  |  | 91,517 |
Total product revenue, net |  | $ | 43,451 |  |  | $ | - |  |  | $ | 43,451 |  |  | $ | 20,810 |  |  | $ | 91,517 |  |  | $ | 112,327 |
Other revenue |  |  | 3,474 |  |  |  | - |  |  |  | 3,474 |  |  |  | 1,606 |  |  |  | 59 |  |  |  | 1,665 |
Total revenues |  | $ | 46,925 |  |  | $ | - |  |  | $ | 46,925 |  |  | $ | 22,416 |  |  | $ | 91,576 |  |  | $ | 113,992 |
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, |  |
|  | 2023 |  |  | 2022 |  |
Largest customer |  |  | 27 | % |  |  | 25 | % |
Second largest customer |  |  | 22 | % |  |  | 20 | % |
Third largest customer |  |  | 17 | % |  |  | 16 | % |
The following table summarizes CpG 1018 adjuvant 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, |  |
|  | 2023 |  |  | 2022 |  |
Largest collaboration partner |  |  | 0 | % |  |  | 74 | % |
Second largest collaboration partner |  |  | 0 | % |  |  | 24 | % |
Third largest collaboration partner |  |  | 0 | % |  |  | 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, 2023 (in thousands):
|  | Balance at Beginning of Period |  |  | Provisions related to current period sales |  |  | Credit or payments made during the period |  |  | Adjustments related to prior periods |  |  | Balance at End of Period |
Three months ended March 31, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable reserves (1) |  | $ | 8,179 |  |  | $ | 11,821 |  |  | $ | (10,686 | ) |  | $ | (198 | ) |  | $ | 9,116 |
Revenue reserve accruals (2) |  | $ | 10,552 |  |  | $ | 9,700 |  |  | $ | (8,040 | ) |  | $ | 490 |  |  | $ | 12,702 |
(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, to Clover and perform services under our agreement with the DoD, we recognize 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 |  |  | Subtractions |  |  | Reclassification (1) |  |  | Balance at End of Period |  |
Three months ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contract asset, included in other current assets (2) |  | $ | 71,965 |  |  | $ | 3,398 |  |  | $ | (2,554 | ) |  | $ | (71,307 | ) |  | $ | 1,502 |  |
Contract asset, included in other assets |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 71,307 |  |  | $ | 71,307 |  |
(1) The Clover contract asset was reclassified to long term assets to reflect the timing of expected long term demand for CpG 1018 adjuvant for Clover Product. See Note 6 for further discussion. (2) The $1.5 million of contract asset is derived from our agreement with the DoD.

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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 https://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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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