Quarterly report pursuant to Section 13 or 15(d)

Significant Customer Concentrations

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Significant Customer Concentrations
9 Months Ended
Sep. 30, 2022
Risks and Uncertainties [Abstract]  
Significant Customer Concentrations

Note 14 - Significant Customer Concentrations

 

Revenue for the three months ended September 30, 2022 and 2021 was $24.2 million and $9.5 million, respectively. One diagnostic services client accounted for 73.8% of our revenue for the three months ended September 30, 2022. Three diagnostic services clients accounted for 19.6%, 12.0% and 10.4% of our revenue for the three months ended September 30, 2021. No contract manufacturing customer’s accounted for a significant portion of our revenue for the three months ended September 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 nine months ended September 30, 2022 and 2021 was $100.8 million and $33.9 million, respectively. Two diagnostic services clients accounted for 54.8%, and 13.0% of our revenue for the nine months ended September 30, 2022. Two diagnostic services clients accounted for 28.4% and 20.7% of our revenue for the nine months ended September 30, 2021. No contract manufacturing customer’s accounted for a significant portion of our revenue for the nine months ended September 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.

 

One diagnostic services payer comprised 70.3% of our total reimbursement receivable balances from government agencies and healthcare issuers at September 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.