Annual report pursuant to Section 13 and 15(d)

Note 16 - Segments

v3.21.1
Note 16 - Segments
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
16.
Segments
 
We report information about our operating segments using the “management approach” in accordance with current accounting standards. This information is based on the way management organizes and reports the segments within the enterprise for making operating decisions and assessing performance. Our reportable segments are identified based on differences in products, services and markets served. There were
no
inter-segment sales. We manage our business based on
two
primary types of drug products: (i) diagnostic substances, including
Tc99m
tilmanocept and other diagnostic applications of our Manocept platform, and (ii) therapeutic development programs, including therapeutic applications of our Manocept platform.
 
The information in the following tables is derived directly from each reportable segment's financial reporting.
 
Year Ended December 31, 2020
  
Diagnostics
    
Therapeutics
    
Corporate
    
Total
  
Royalty revenue
   $
7,995
     $
—
     $
—
     $
7,995
  
License revenue
    
110,730
      
—
      
—
      
110,730
  
Grant and other revenue
    
482,221
      
314,067
      
—
      
796,288
  
Total revenue
    
600,946
      
314,067
      
—
      
915,013
  
Cost of revenue
    
1,048
      
—
      
—
      
1,048
  
Research and development expenses
    
4,593,459
      
336,728
      
—
      
4,930,187
  
Selling, general and administrative expenses, excluding depreciation and amortization
(1)
    
299,959
      
800
      
6,323,807
      
6,624,566
  
Depreciation and amortization
(2)
    
10,068
      
—
      
60,325
      
70,393
  
Loss from operations
(3)
    
(4,303,588
)
    
(23,461
)
    
(6,384,132
)
    
(10,711,181
)
Other expense
(4)
    
—
      
—
      
(10,510
)
    
(10,510
)
Net loss
    
(4,303,588
)
    
(23,461
)
    
(6,394,642
)
    
(10,721,691
)
Total assets, net of depreciation and amortization:
                                
United States
   $
139,121
      
—
      
7,416,106
      
7,555,227
  
International
    
202,791
      
—
      
—
      
202,791
  
Capital expenditures
    
120,810
      
—
      
15,071
      
135,881
  
 
Year Ended December 31, 2019
  
Diagnostics
    
Therapeutics
    
Corporate
    
Total
  
Royalty revenue
   $
16,665
     $
—
     $
—
     $
16,665
  
License revenue
    
9,953
      
—
      
—
      
9,953
  
Grant and other revenue
    
384,776
      
246,432
      
—
      
631,208
  
Total revenue
    
411,394
      
246,432
      
—
      
657,826
  
Cost of revenue
    
6,667
      
—
      
—
      
6,667
  
Research and development expenses, excluding depreciation and amortization
    
4,795,445
      
542,822
      
—
      
5,338,267
  
Selling, general and administrative expenses, excluding depreciation and amortization
(1)
    
—
      
16,990
      
6,113,907
      
6,130,897
  
Depreciation and amortization
(2)
    
—
      
—
      
144,512
      
144,512
  
Loss from operations
(3)
    
(4,390,718
)
    
(313,380
)
    
(6,258,419
)
    
(10,962,517
)
Other income
(4)
    
—
      
—
      
17,675
      
17,675
  
Provision for income taxes
    
(284
)
    
(20
)
    
(403
 )    
(707
 )
Loss from continuing operations
    
(4,391,002
)
    
(313,400
)
    
(6,241,147
)
    
(10,945,549
)
Loss from discontinued operations, net of tax effect
    
(2,665
)
    
—
      
—
      
(2,665
)
Net loss
    
(4,393,666
)
    
(313,400
)
    
(6,241,147
)
    
(10,948,214
)
Total assets, net of depreciation and amortization:
                                
United States
   $
55,229
     $
31,449
     $
4,064,228
     $
4,150,906
  
International
    
—
      
—
      
—
      
—
  
Capital expenditures
    
—
      
—
      
1,258
      
1,258
  
 
 
(
1
)
General and administrative expenses, excluding depreciation and amortization, represent costs that relate to the general administration of the Company and as such are
not
currently allocated to our individual reportable segments, other than those expenses directly incurred by Navidea Europe, Navidea UK and MT.
 
(
2
)
Depreciation and amortization are reflected in selling, general and administrative expenses (
$70,393
and
$144,512
for the years ended
December 31, 2020
and
2019,
respectively).
 
(
3
)
Loss from operations does
not
reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments, other than those expenses directly incurred by Navidea Europe, Navidea UK and MT.
 
(
4
)
Amounts consist primarily of interest income and interest expense, which are
not
currently allocated to our individual reportable segments.