Quarterly report pursuant to Section 13 or 15(d)

Significant Customer Concentrations

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Significant Customer Concentrations
6 Months Ended
Jun. 30, 2022
Risks and Uncertainties [Abstract]  
Significant Customer Concentrations

Note 14 - Significant Customer Concentrations

 

Revenue for the three months ended June 30, 2022 and 2021 was $29.1 million and $9.1 million, respectively. One diagnostic services client accounted for 67.2% of our revenue for the three months ended June 30, 2022. Two diagnostic services clients accounted for 24.9% and 16.8% of our revenue for the three months ended June 30, 2021. No contract manufacturing customer’s accounted for a significant portion of our revenue for the three month ended June 30, 2022 or 2021. The loss of sales to any of these large customers could have a material adverse effect on our business operations and financial condition.

 

Revenue for the six months ended June 30, 2022 and 2021 was $76.6 million and $24.4 million, respectively. Three diagnostic services clients accounted for 48.9%, 15.7%, and 10.0% of our revenue for the six months ended June 30, 2022. Two diagnostic services clients accounted for 38.5% and 24.0% of our revenue for the six months ended June 30, 2021. No contract manufacturing customer’s accounted for a significant portion of our revenue for the six month ended June 30, 2022 or 2021. The loss of sales to any of these large customers could have a material adverse effect on our business operations and financial condition.

 

Two diagnostic services payers comprised 51.1% and 19.3% of our total reimbursement receivable balances from government agencies and healthcare issuers at June 30, 2022. Four diagnostic services payers comprised 43.0%, 11.6%, 10.7% and 10.7% of our total reimbursement receivable balances from government agencies and healthcare issuers at December 31, 2021.

 

Currently, we rely on a sole supplier to manufacture our saliva collection kits used by customers who purchase our personal genomics services. Change in the supplier or design of certain of the materials that we rely on, in particular the saliva collection kit, could result in a requirement for additional premarket review from the FDA before making such a change.