Segments and Geographic Information

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segments and Geographic Information

(6) Segments and Geographic Information

The Company currently operates in two segments: product and service. The product segment oversees the supply chain management including the manufacturing of CRINONE, the Company’s sole commercialized product. The product segment also includes the royalty stream the Company receives from Actavis for CRINONE sales in the United States. The service segment includes pharmaceutical development, clinical trial manufacturing, and advanced analytical and consulting services for the Company’s customers as well as characterizing and developing pharmaceutical product candidates for the Company’s internal programs. The Company has consolidated and runs all of its operational functions in one location in Nottingham, United Kingdom. The Company owns certain plant and equipment physically located at third party contractor facilities in the United Kingdom and Switzerland. The Company conducts its advanced formulation, analytical and consulting services through its subsidiary, Juniper Pharma Services.

The Company’s largest customer, Merck Serono, utilizes a Switzerland-based subsidiary to acquire product from the Company, which it then sells throughout the world excluding the U.S. The Company’s primary domestic customer, Actavis, Inc. (“Actavis”) is responsible for the commercialization and sale of progesterone products in the United States. The following tables show selected information by geographic area (in thousands):

Revenues:

	Three Months Ended March 31,
	2015		2014
United States	$	1,747	$	2,501
Switzerland		4,938		3,531
United Kingdom		982		470
Other countries		659		514
Total	$	8,326	$	7,016

Total assets:

	March 31, 2015		December 31, 2014
United States	$	18,046	$	18,212
Switzerland		1,767		1,661
United Kingdom		30,541		32,140
Other countries		116		195
Total	$	50,470	$	52,208

Long-lived assets:

	March 31, 2015		December 31, 2014
United States	$	249	$	245
Switzerland		534		529
United Kingdom		11,575		12,361
Other countries		2		2
Total	$	12,360	$	13,137

No other individual country represented greater than 10% of total revenues, total assets, or total long-lived assets for any period presented.

For the three months ended March 31, 2015 and 2014, Merck Serono and Actavis accounted for 59% and 12%, and 45% and 16% of total revenues, respectively. No additional customers accounted for 10% or more of total revenues for the three months ended March 31, 2015 and 2014.

At March 31, 2015 Merck Serono and Actavis each made up 50% of the product segment accounts receivable. At December 31, 2014 Merck Serono and Actavis account for 54% and 46% of the product segment accounts receivable, respectively. At March 31, 2015 no customers accounted for greater than 10% of the service segment accounts receivable. At December 31, 2014 two customers accounted for 18% and 11% of total service segment accounts receivable.

The following summarizes other information by segment for the quarter ended March 31, 2015 (in thousands):

	Product		Service		Total
Revenues
Product revenues	$	4,875	$	—	$	4,875
Service revenues		—		2,460		2,460
Royalties		991		—		991
Total revenues		5,866		2,460		8,326
Cost of product revenues		3,112		—		3,112
Cost of service revenues		—		1,766		1,766
Total cost of revenues		3,112		1,766		4,878
Gross profit		2,754		694		3,448
Total operating expenses						4,279
Total non-operating income						144
Loss before income taxes						(687	)

The following summarizes other information by segment for the quarter ended March 31, 2014 (in thousands):

	Product		Service		Total
Revenues
Product revenues	$	3,461	$	—	$	3,461
Service revenues		—		2,478		2,478
Royalties		1,077		—		1,077
Other revenues		—		—		—
Total revenues		4,538		2,478		7,016
Cost of product revenues		2,426		—		2,426
Cost of service revenues		—		1,846		1,846
Total cost of revenues		2,426		1,846		4,272
Gross profit		2,112		632		2,744
Total operating expenses						2,852
Total non-operating income						272
Income before income taxes						164