Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Summary of Components of Marketable Securities

The following is a summary of the components of our marketable debt securities and the underlying fair value input level tier hierarchy (in thousands) (see fair value of financial instruments):

	As of March 31, 2022
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
U.S. government obligations	$	667	$	123	$	(44	)	$	746
Corporate obligations		2,839		-		(42	)		2,797
	$	3,506	$	123	$	(86	)	$	3,543

	As of December 31, 2021
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
U.S. government obligations	$	650	$	17	$	-		$	667
Corporate obligations		8,304		-		(192	)		8,112
	$	8,954	$	17	$	(192	)	$	8,779

Schedule of Accounts Receivable Net

Accounts are written off as uncollectible at the time we determine that collections are unlikely. Accounts receivable, net is comprised of the following (in thousands):

	March 31, 2022			December 31, 2021
Trade accounts receivable	$	24,727		$	18,520
Unbilled accounts receivable		14,944			23,089
		39,671			41,609
Less allowances		(2,977	)		(3,901	)
Total accounts receivable	$	36,694		$	37,708

Schedule of Components of Inventory

At March 31, 2022 and December 31, 2021, the components of inventory are as follows (in thousands):

	March 31,			December 31,
	2022			2021
Diagnostic services testing material	$	3,103		$	2,989
Raw materials		1,238			1,514
Work in process		476			260
Finished goods		322			272
Inventory	$	5,139		$	5,035
Inventory valuation reserve		(459	)		(435	)
Inventory, net	$	4,680		$	4,600

Schedule of Fair Value of Financial Instruments

	As of March 31, 2022
	Level 1		Level 2		Level 3		Total
U.S. government obligations	$	-	$	746	$	-	$	746
Corporate obligations		-		2,797		-		2,797
	$	-	$	3,543	$	-	$	3,543

ProPhase Labs, Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements

(unaudited)

	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
U.S. government obligations	$	-	$	667	$	-	$	667
Corporate obligations		-		8,112		-		8,112
Marketable equity securities		76		-		-		76
	$	76	$	8,779	$	-	$	8,855

Schedule of Deferred Revenue

The following table disaggregates our deferred revenue by recognition period (in thousands):

	March 31,		December 31,
	2022		2021
Recognition Period
0-12 Months	$	2,246	$	2,034
13-24 Months		598		530
Over 24 Months		260		375
Total	$	3,104	$	2,939

Schedule of Disaggregation by Revenue

The following table disaggregates the Company’s revenue by revenue source for the three months ended March 31, 2022 and 2021 (in thousands):

	For the three months ended
Revenue by Customer Type	March 31, 2022		March 31, 2021
Diagnostic services	$	44,913	$	12,738
Contract manufacturing		1,154		1,908
Retail and others		546		625
Genomic products and services		918		-
Total revenue, net	$	47,531	$	15,271