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Segment, Geographical and Other Revenue Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment, Geographical and Other Revenue Information | Segment, Geographical and Other Revenue Information Segment Information We previously managed our business as two business segments, Performance Enzymes and Novel Biotherapeutics. During the fourth quarter of 2023, we made changes to the structure of our organization in connection with the restructuring of our business that we announced in July 2023, including the discontinuation of investment in certain development programs, primarily in our biotherapeutics business, consolidation of operations to our Redwood City, California headquarters, and headcount reduction. In connection with these organizational structure changes, corresponding changes were made to how our business is managed, how results are reported internally and how our CEO, our chief operating decision maker (“CODM”), assesses performance and allocates resources. As a result of these changes, our previous Performance Enzymes and Novel Biotherapeutics operating segments were combined into a single reportable segment. We believe that these changes better align internal resources and external go to market activities in order to create a more efficient and effective organizational structure. Under this new organizational and reporting structure, we managed our business as one reportable segment since the fourth quarter of 2023. Effective October 1, 2023, the Company's operations are managed and reported to the CODM on a consolidated basis. The CODM uses consolidated income (loss) from operations and net income (loss) to assess financial performance and make resource allocation decisions. These financial measures are used by the CODM to balance short-term financial results with long-term strategic goals, guiding the allocation of budget between product costs, research and development, and general, selling and administrative expenses. As a result of the restructuring of our business, the Company determined that a triggering event had occurred that required an interim goodwill impairment test during the third quarter of 2023. The fair value estimate used in the interim goodwill impairment test was primarily based on Level 3 inputs in the fair value hierarchy. Based on the results of the impairment evaluation, the Company determined that the goodwill within the Novel Biotherapeutics reporting unit was impaired, which resulted in a non-cash impairment charge of $0.8 million to write off all of the associated goodwill. The impairment charge is recorded within asset impairment and other charges in the consolidated statements of operation for the year ended December 31, 2023. Significant Customers Customers that each accounted for 10% or more of our total revenues were as follows:
| Percentage of Total Revenues For the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Customer A | 18 | % |  | 22 | % |  | 56 | %
Customer B | 13 | % |  | * |  | *
Customer C | 10 | % |  | * |  | *
Customer D | 10 | % |  | * |  | *
Customer E | * |  | 13 | % |  | *
* Percentage was less than 10% |  |  |  |  |
Customers that each accounted for 10% or more of accounts receivable balances as of the periods presented are as follows:
| As of December 31,
| 2024 |  | 2023
Customer B | 16 | % |  | 12 | %
Customer D | 18 | % |  | 12 | %
Customer F | 12 | % |  | *
Customer G | 10 | % |  | *
Customer H | * |  | 21 | %
Customer I | * |  | 13 | %
* Percentage was less than 10% |  |  |
Geographical Information Geographic revenues are identified by the location of the customer and consist of the following (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenues |  |  |  |  |
Americas(1) | $ | 21,278 |  |  | $ | 13,733 |  |  | $ | 17,000 |
EMEA(2)(3) | 10,359 |  |  | 22,907 |  |  | 56,540 |
APAC(4)(5)(6) | 27,708 |  |  | 33,503 |  |  | 65,050 |
Total revenues | $ | 59,345 |  |  | $ | 70,143 |  |  | $ | 138,590 |
(1) United States revenue was $21.3 million, $13.7 million, and $17.0 million, for the years ended December 31, 2024, 2023, and 2022, respectively (2) Ireland revenue was $1.8 million, $0.5 million, and $37.2 million, for the years ended December 31, 2024, 2023, and 2022, respectively (3) Switzerland revenue was $3.4 million, $11.1 million, and $9.2 million, for the years ended December 31, 2024, 2023, and 2022, respectively (4) China revenue was $9.8 million, $20.3 million, and $48.6 million, for the years ended December 31, 2024, 2023, and 2022, respectively (5) India revenue was $7.3 million, $5.7 million, and $8.8 million, for the years ended December 31, 2024, 2023, and 2022, respectively (6) Singapore revenue was $6.2 million, $2.4 million, and $3.2 million, for the years ended December 31, 2024, 2023, and 2022, respectively Identifiable long-lived assets by location was as follows (in thousands):
| December 31,
| 2024 |  | 2023
United States | $ | 43,098 |  |  | $ | 28,624 |

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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