Quarterly report pursuant to Section 13 or 15(d)

Note 14 - Segments

Note 14 - Segments

6 Months Ended

Jun. 30, 2022

Segment Reporting Disclosure [Text Block]

14.

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.

Three Months Ended June 30, 2022	Diagnostics			Therapeutics			Corporate			Total
Sales revenue:
United States	$	—		$	—		$	—		$	—
International		6,519			—			—			6,519
Grant and other revenue		51,007			—			—			51,007
Total revenue		57,526			—			—			57,526
Cost of revenue, excluding depreciation and amortization		473			—			—			473
Research and development expenses		1,636,691			87,297			—			1,723,988
Selling, general and administrative expenses, excluding depreciation and amortization ⁽¹⁾		—			3,001			1,230,894			1,233,895
Depreciation and amortization ⁽²⁾		6,041			—			15,730			21,771
Loss from operations ⁽³⁾		(1,585,679	)		(90,298	)		(1,246,624	)		(2,922,601	)
Other expense ⁽⁴⁾		—			—			(76,858	)		(76,858	)
Net loss		(1,585,679	)		(90,298	)		(1,323,482	)		(2,999,459	)
Total assets, net of depreciation and amortization:
United States	$	50,000		$	—		$	2,043,815		$	2,093,815
International		384,294			—			25,596			409,890
Capital expenditures		40,221			—			8,436			48,657

Three Months Ended June 30, 2021	Diagnostics			Therapeutics			Corporate			Total
License revenue	$	13,063		$	—		$	—		$	13,063
Grant and other revenue		247,983			—			—			247,983
Total revenue		261,046			—			—			261,046
Research and development expenses		1,358,123			139,933			—			1,498,056
Selling, general and administrative expenses, excluding depreciation and amortization ⁽¹⁾		—			873			1,411,879			1,412,752
Depreciation and amortization ⁽²⁾		6,041			—			13,817			19,858
Loss from operations ⁽³⁾		(1,103,118	)		(140,806	)		(1,425,696	)		(2,669,620	)
Other expense ⁽⁴⁾		—			—			(4,420	)		(4,420	)
Net loss		(1,103,118	)		(140,806	)		(1,430,116	)		(2,674,040	)
Total assets, net of depreciation and amortization:
United States	$	269,464		$	—		$	10,811,515		$	11,080,979
International		199,741			—			590			200,331
Capital expenditures		—			—			2,707			2,707

Six Months Ended June 30, 2022	Diagnostics			Therapeutics			Corporate			Total
Sales revenue:
United States	$	—		$	—		$	—		$	—
International		6,519			—			—			6,519
Grant and other revenue		51,007			—			—			51,007
Total revenue		57,526			—			—			57,526
Cost of revenue, excluding depreciation and amortization		473			—			—			473
Research and development expenses		2,626,578			266,664			—			2,893,242
Selling, general and administrative expenses, excluding depreciation and amortization ⁽¹⁾		—			3,001			3,018,045			3,021,046
Depreciation and amortization ⁽²⁾		12,081			—			32,568			44,649
Loss from operations ⁽³⁾		(2,581,606	)		(269,665	)		(3,050,613	)		(5,901,884	)
Other income ⁽⁴⁾		—			—			(84,819	)		(84,819	)
Net loss		(2,581,606	)		(269,665	)		(3,135,432	)		(5,986,703	)
Total assets, net of depreciation and amortization:
United States	$	50,000		$	—		$	2,043,815		$	2,093,815
International		384,294			—			25,596			409,890
Capital expenditures		40,221			—			8,436			48,657

Six Months Ended June 30, 2021	Diagnostics			Therapeutics			Corporate			Total
License revenue	$	35,549		$	—		$	—		$	35,549
Grant and other revenue		349,234			—			—			349,234
Total revenue		384,783			—			—			384,783
Research and development expenses		2,452,513			268,297			—			2,720,810
Selling, general and administrative expenses, excluding depreciation and amortization ⁽¹⁾		—			2,879			3,622,870			3,625,749
Depreciation and amortization ⁽²⁾		12,081			—			25,525			37,606
Loss from operations ⁽³⁾		(2,079,811	)		(271,176	)		(3,648,395	)		(5,999,382	)
Other income ⁽⁴⁾		—			—			358,450			358,450
Net loss		(2,079,811	)		(271,176	)		(3,289,945	)		(5,640,932	)
Total assets, net of depreciation and amortization:
United States	$	269,464		$	—		$	10,811,515		$	11,080,979
International		199,741			—			590			200,331
Capital expenditures		—			—			2,707			2,707

⁽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 ($21,771 and $19,858 for the three-month periods ended June 30, 2022 and 2021, and $44,649 and $37,606 for the six-month periods ended June 30, 2022 and 2021, 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.

- 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

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+ Details