Segments and Geographic Information

12 Months Ended

Dec. 31, 2019

11. Segments and Geographic Information

The Company’s chief operating decision-maker reviews financial information presented on a consolidated basis, accompanied by disaggregated information by each reporting segment’s statement of operations. The Company operates the business on the basis of three reporting segments, the therapeutics market and two business units:

Revenues, Expenses and Operating Income (loss)

The Company does not measure the performance of its segments on any asset-based metrics. Therefore, segment information is presented only for operating income (loss). Revenues, expenses and operating income (loss) by market segment were as follows (in thousands):

	Years Ended
	December 31,
	2019			2018
Revenues:
Cosmetic market	$	1,973		$	1,812
Biomedical market		7,499			9,277
Total revenues		9,472			11,089
Expenses:
Therapeutics market		6,345			5,904
Cosmetic market		2,699			2,637
Biomedical market		6,156			6,022
Total operating expenses		15,200			14,563
Operating income (loss):
Therapeutics market		(6,345	)		(5,904	)
Cosmetic market		(726	)		(825	)
Biomedical market		1,343			3,255
Total loss from operations	$	(5,728	)	$	(3,474	)

Geographic Information

The Company’s wholly-owned subsidiaries are located in Maryland, California and Melbourne, Australia, and have customer and vendor relationships worldwide. Significant revenues in the following regions are those that are attributable to the individual country within the region to which the product was shipped (in thousands):

	Years Ended
	December 31,
	2019		2018
North America	$	8,583	$	10,160
Asia		540		612
Europe		325		293
All other regions		24		24
Total	$	9,472	$	11,089