Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 1475

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 8
Chunk 1475
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 provides a practical expedient whereby an entity can assume that current conditions as of the balance sheet date will not change for the remaining life of the asset (e.g., the account receivable). This guidance is effective for the Company’s fiscal year ending December 31, 2026 and can be adopted early. The Company is in the process of evaluating the effects of this guidance on its consolidated financial statements.

The Company has evaluated all other issued and unadopted ASUs and believes the adoption of these standards will not have a material impact on its results of operations, financial position or cash flows.

    F-19

Note 4 – Revenue from Contracts with Customers

Disaggregated Revenue

The Company provided listing sponsorship and consulting services to growth-stage private companies, diagnostic test products and laboratory services to hospitals, clinical laboratories and other healthcare providing customers, and entered into collaboration agreements with government agencies, non-governmental organizations, and healthcare providers. The revenues by type of service consist of the following:

    Schedule of revenues by type of service

    Years Ended December 31,

    2024

    2023

    Product sales
     
    $
    169,373

    $
    2,400,053

    Laboratory services

    26,776

    153,719

    Listing sponsorship services

    5,000,000

    -

    Collaboration revenue

    -

    864,548

    Total revenue
     
    $
    5,196,149

    $
    3,418,320

Revenues by geography are as follows:

    Schedule of revenues by geography

    Years Ended December 31,

    2024

    2023

    Domestic
     
    $
    196,149

    $
    678,093

    International

    5,000,000

    2,740,227

    Total revenue
     
    $
    5,196,149

    $
    3,418,320

Deferred revenue

Changes in deferred revenue for the period were as follows:

    Schedule of changes in deferred revenue

    Balance at December 31, 2022
     
    $
    142,061

    Contracts with customers

    74,109

    Recognized in the current period

    (144,196
    )
  
    Currency translation adjustment

    (46,048
    )
  
    Balance at December 31, 2023