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Segment, Geographical and Other Revenue Information | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Segment, Geographical and Other Revenue Information | Segment, Geographical and Other Revenue Information Segment Information We manage our business as two business segments: Performance Enzymes and Novel Biotherapeutics. Our business segments are primarily based on our organizational structure and our operating results as used by our CODM in assessing performance and allocating resources for the Company. We report corporate-related expenses such as legal, accounting, information technology, and other costs that are not otherwise included in our reportable business segments as "corporate costs." All items not included in income (loss) from operations are excluded from the business segments. We manage our assets on a total company basis, not by business segment, as the majority of our operating assets are shared or commingled. Our CODM does not review asset information by business segment in assessing performance or allocating resources, and accordingly, we do not report asset information by business segment. All of our long-lived assets are located in the United States. Factors considered in determining the two reportable segments of the Company include the nature of business activities, the management structure directly accountable to our CODM for operating and administrative activities, availability of discrete financial information and information presented to the Board of Directors. Our CODM regularly reviews our segments and the approach provided by management for performance evaluation and resource allocation. Operating expenses that directly support the segment activity are allocated based on segment headcount, revenue contribution or activity of the business units within the segments, based on the corporate activity type provided to the segment. The expense allocation excludes certain corporate costs that are separately managed from the segments. This provides the CODM with more meaningful segment profitability reporting to support operating decisions and allocate resources. The following table provides financial information by our reportable business segments along with a reconciliation to consolidated loss before income taxes (in thousands):
| Three Months Ended March 31, 2023 |  | Three Months Ended March 31, 2022
| Performance Enzymes |  | Novel Biotherapeutics |  | Total |  | Performance Enzymes |  | Novel Biotherapeutics |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |
Product revenue | $ | 8,364 |  |  | $ | — |  |  | $ | 8,364 |  |  | $ | 30,690 |  |  | $ | — |  |  | $ | 30,690 |
Research and development revenue | 1,122 |  |  | 3,496 |  |  | 4,618 |  |  | 2,409 |  |  | 2,241 |  |  | 4,650 |
Total revenues | 9,486 |  |  | 3,496 |  |  | 12,982 |  |  | 33,099 |  |  | 2,241 |  |  | 35,340 |
Costs and operating expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of product revenue | 4,521 |  |  | — |  |  | 4,521 |  |  | 8,521 |  |  | — |  |  | 8,521 |
Research and development (1) | 8,099 |  |  | 7,312 |  |  | 15,411 |  |  | 6,122 |  |  | 12,346 |  |  | 18,468 |
Selling, general and administrative (1) | 2,798 |  |  | 951 |  |  | 3,749 |  |  | 3,541 |  |  | 720 |  |  | 4,261 |
Restructuring charges | — |  |  | 72 |  |  | 72 |  |  | — |  |  | — |  |  | — |
Total segment costs and operating expenses | 15,418 |  |  | 8,335 |  |  | 23,753 |  |  | 18,184 |  |  | 13,066 |  |  | 31,250 |
Income (loss) from operations | $ | (5,932) |  |  | $ | (4,839) |  |  | (10,771) |  |  | $ | 14,915 |  |  | $ | (10,825) |  |  | 4,090 |
Corporate costs (2) |  |  |  |  | (10,364) |  |  |  |  |  |  | (11,205) |
Unallocated depreciation and amortization |  |  |  |  | (1,466) |  |  |  |  |  |  | (1,232) |
Loss before income taxes |  |  |  |  | $ | (22,601) |  |  |  |  |  |  | $ | (8,347) |
(1) Research and development expenses and selling, general and administrative expenses exclude depreciation and amortization of finance leases. (2) Corporate costs include unallocated selling, general and administrative expenses, interest income, and other expense, net. The following table provides stock-based compensation expense included in income (loss) from operations (in thousands):
| Three Months Ended March 31,
| 2023 |  | 2022
| Performance Enzymes |  | Novel Biotherapeutics |  | Corporate cost |  | Total |  | Performance Enzymes |  | Novel Biotherapeutics |  | Corporate cost |  | Total
Stock-based compensation | $ | 1,035 |  |  | $ | 413 |  |  | $ | 1,361 |  |  | $ | 2,809 |  |  | $ | 1,690 |  |  | $ | 410 |  |  | $ | 1,738 |  |  | $ | 3,838 |
Significant Customers Customers that each accounted for 10% or more of our total revenues were as follows:
| Percentage of Total Revenues for the
| Three Months Ended March 31,
| 2023 |  | 2022
Customer A | * |  | 61 | %
Customer B | 23 | % |  | *
Customer C | 14 | % |  | *
Customer D | 13 | % |  | *
Customer E | 10 | % |  | *
* Percentage was less than 10% |  |  |
Customers that each accounted for 10% or more of accounts receivable balances as of the periods presented as follows:
| Percentage of Accounts Receivables as of
| March 31, 2023 |  | December 31, 2022
Customer A | * |  | 53 | %
Customer B | 21 | % |  | *
Customer C | 11 | % |  | 10 | %
Customer F | 14 | % |  | *
Customer G | 12 | % |  | *
* Percentage was less than 10% |  |  |
Geographical Information Geographic revenues are identified by the location of the customer and consist of the following (in thousands):
| Three Months Ended March 31,
| 2023 |  | 2022
Revenues: |  |  |
Americas | $ | 2,584 |  |  | $ | 3,732 |
EMEA | 3,089 |  |  | 4,127 |
APAC | 7,309 |  |  | 27,481 |
Total revenues | $ | 12,982 |  |  | $ | 35,340 |
Identifiable long-lived assets by location was as follows (in thousands):
| March 31, 2023 |  | December 31, 2022
United States | $ | 61,622 |  |  | $ | 61,877 |
Identifiable goodwill by reporting unit was as follows (in thousands):
| As of March 31, 2023 and December 31, 2022
| Performance Enzymes |  | Novel Biotherapeutics |  | Total
Goodwill | $ | 2,463 |  |  | $ | 778 |  |  | $ | 3,241 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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