Quarterly report pursuant to Section 13 or 15(d)

Note 15 - Segments

v3.21.1
Note 15 - Segments
3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
15.
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 March 31, 2021
 
Diagnostics
   
Therapeutics
   
Corporate
   
Total
 
License revenue
  $
22,486
    $
    $
    $
22,486
 
Grant and other revenue
   
101,251
     
     
     
101,251
 
Total revenue
   
123,737
     
     
     
123,737
 
Cost of revenue
   
     
     
     
 
Research and development expenses
   
1,094,390
     
128,364
     
     
1,222,754
 
Selling, general and administrative expenses, excluding depreciation and amortization
(1)
   
     
2,006
     
2,210,991
     
2,212,997
 
Depreciation and amortization
(2)
   
6,040
     
     
11,708
     
17,748
 
Loss from operations
(3)
   
(976,693
)
   
(130,370
)
   
(2,222,699
)
   
(3,329,762
)
Other income
(4)
   
     
     
362,870
     
362,870
 
Net loss
   
(976,693
)
   
(130,370
)
   
(1,859,829
)
   
(2,966,892
)
Total assets, net of depreciation and amortization:
                               
United States
  $
160,669
    $
    $
9,723,212
    $
9,883,881
 
International
   
193,194
     
     
     
193,194
 
Capital expenditures
   
     
     
     
 
 
Three Months Ended March 31, 2020
 
Diagnostics
   
Therapeutics
   
Corporate
   
Total
 
Royalty revenue
  $
15,221
    $
    $
    $
15,221
 
Grant and other revenue
   
58,916
     
82,135
     
     
141,051
 
Total revenue
   
74,137
     
82,135
     
     
156,272
 
Cost of revenue
   
609
     
     
     
609
 
Research and development expenses
   
957,626
     
41,643
     
     
999,269
 
Selling, general and administrative expenses, excluding depreciation and amortization
(1)
   
     
(1,522
)
   
1,812,433
     
1,810,911
 
Depreciation and amortization
(2)
   
     
     
16,843
     
16,843
 
(Loss) income from operations
(3)
   
(884,098
)
   
42,014
     
(1,829,276
)
   
(2,671,360
)
Other expense
(4)
   
     
     
(2,248
)
   
(2,248
)
Net loss
   
(884,098
)
   
42,014
     
(1,831,524
)
   
(2,673,608
)
Total assets, net of depreciation and amortization:
                               
United States
  $
36,671
    $
2,494
    $
4,438,066
    $
4,477,231
 
International
   
     
     
     
 
Capital expenditures
   
     
     
6,459
     
6,459
 
 
 
(
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 (
$17,748
and
$16,843
for the
three
-month periods ended
March 31, 2021
and
2020,
respectively).
 
(
3
)
Income (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.