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Revenue

3 Months Ended

Mar. 31, 2023

Revenue [Abstract]

REVENUE

14. REVENUE

We primarily offer the First Defense^® product line to dairy and beef producers to prevent scours in newborn calves. Generally, our products are promoted to veterinarians as well as dairy and beef producers by our sales team and then sold through distributors. Our primary market is North America. We do sell into select international regions and may expand this international reach in the future. There were no material changes between the allocation and timing of revenue recognition during the three-month periods ended March 31, 2023 or 2022. We do not have any contract assets for which we have satisfied the performance obligations, but do not yet have the right to bill for, or contract liabilities such as customer advances. All trade receivables on our balance sheets are from contracts with customers. We incur no material costs to obtain contracts.

The following table presents our product sales disaggregated by geographic area:

		During the Three-Month Periods Ended March 31,																During the Years Ended December 31,
		2023				%				2022				%				2022				%				2021				%
United States		$	2,996,154				87	%		$	5,515,749				92	%		$	17,020,797				92	%		$	16,620,363				86	%
Other			450,373				13	%			483,935				8	%			1,547,165				8	%			2,622,606				14	%
Total Product Sales		$	3,446,527				100	%		$	5,999,684				100	%		$	18,567,962				100	%		$	19,242,969				100	%

The following table present our product sales disaggregated by major product category:

		During the Three-Month Periods Ended March 31,																During the Years Ended December 31,
		2023				%				2022				%				2022				%				2021				%
First Defense® product line		$	3,411,232				99	%		$	5,962,875				99	%		$	18,411,949				99	%		$	18,933,092				98	%
Other animal health			35,295				1	%			36,809				1	%			156,013				1	%			309,877				2	%
Total Product Sales		$	3,446,527				100	%		$	5,999,684				100	%		$	18,567,962				100	%		$	19,242,969				100	%

X

- Definition

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 430
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//430/tableOfContent

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X

- References

No definition available.

+ Details

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