Concentrations of Credit Risk
|9 Months Ended|
Sep. 30, 2018
|Risks and Uncertainties [Abstract]|
|Concentrations of Credit Risk||
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, and trade accounts receivable.
Cash and cash equivalents concentration—The Company holds cash balances at financial institutions that, at times, may exceed federally insured limits. The Company evaluates the creditworthiness of these financial institutions in determining the risk associated with these deposits. Calyxt has not experienced any losses on such accounts.
Trade accounts receivable concentration—The Company had no trade accounts receivables as of September 30, 2018 and December 31, 2017.
Revenue concentration—For the three months ended September 30, 2018, two customers accounted individually for 94% and 6% of revenue. For the nine months ended September 30, 2018, three customers accounted individually for 86%, 11.0% and 2.0% of revenue. For the three months ended September 30, 2017, four customers accounted individually for 63.0%, 19.5%, 12.6% and 4.8% of revenue. For the nine months ended September 30, 2017, four customers accounted individually for 64.2%, 25.8%, 8.0% and 2.0% of revenue.
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef