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This statistic highlights Dynavax Technologies’ Revenue by Segment, split between Product revenue and Other revenue, reported on a quarterly basis from Q1 2016 onwards.
Dynavax Technologies’ Revenue by Segment increased from $13.41 million in Q3 2020 to $108.27 million in Q3 2021, marking an excellent 707.38% growth on a year-on-year basis. It increased by 105.21% on a quarter-on-quarter basis, as compared to $52.76 million in Q2 2021.
Revenue is raised through product sales as well as other revenue. Sale of HEPLISAV-B and CpG 1018 adjuvants are included in net product revenue. The net sales price, which includes estimates of product returns, chargebacks, discounts, rebates, and other costs, is used to quantify revenue from HEPLISAV-B product sales.
Dynavax Technologies’ revenue is further bifurcated into the following segments:
|Segment||Q3 2020||Q2 2021||Q3 2021||Revenue contribution by Q3 2021|
(All figures are in millions, except percentages)
Revenue from product sales is recognized when the performance obligation is met, which is when the product is delivered to the customer and control is transferred to the customer. The time between when revenue is recognized for product sales and when payment is received is not significant. There is no large financing component on the linked receivables because the normal credit terms are short-term and they expect payment in less than a year. Revenue does not include taxes received from customers on product sales and remitted to government authorities. The company does not reveal information regarding its outstanding performance obligations since the performance obligation is part of a contract with an original expected length of one year or less.
Altogether, net product revenue represents the best prediction of the amount of compensation to which they are entitled under the contract’s conditions. If their predictions are significantly different from the actuals, they will record adjustments that will influence product revenue, and net in the period of adjustment.
The major component of the company’s revenue was made by the Product revenue segment, contributing 99% of the total revenue generated in Q3 2021. Dynavax Technologies’ revenue owing to the Product revenue segment increased from $13.27 million in Q3 2020 to $106.99 million in Q3 2021, indicating a rise of 706.25% on a year-on-year basis. It witnessed a rise of 103.13% on a quarter-on-quarter basis, from $52.67 million in Q2 2021 to $106.99 million in Q3 2021.
Other revenue includes collaboration and manufacturing service revenue. The company has entered into collaborative arrangements and arrangements to provide manufacturing services to other companies. Customers’ promises may be included in such arrangements, which, if distinct, are accounted for as independent performance obligations. They distribute estimated revenue to each performance obligation at contract start based on the estimated transaction price of each performance obligation for agreements with numerous performance obligations. When Dynavax meets the performance obligation by transferring control of the promised good or service to the client, revenue allocated to each performance obligation is recognized. In the condensed consolidated statements of operations, revenue from collaboration and manufacturing services is reflected in other revenue.
Dynavax Technologies’ revenue from the Other segment increased from $0.13 million in Q3 2020 to $1.27 million in Q3 2021, marking an increase of 876.92% on a year-on-year basis. It witnessed a rise of 41.11% on a quarter-on-quarter basis, from $0.90 million in Q2 2021 to $1.27 million in Q3 2021. This segment contributes only 1% of the company’s revenue.
In the United States, Dynavax Technologies Corporation, a biopharmaceutical business, focuses on discovering and commercializing innovative vaccines. In the United States and Europe, the firm sells HEPLISAV-B, a hepatitis B vaccine for the prevention of infection caused by all known subtypes of the hepatitis B virus in people aged 18 and up. CpG 1018, the adjuvant used in HEPLISAV-B, is likewise manufactured and sold by the company. Valneva Scotland Limited, Serum Institute of India Pvt. Ltd., and Merck, Sharp & Dohme Corp. have all signed collaboration agreements with Dynavax Technologies Corporation.
In September 1996, the company changed its name from Double Helix Corporation to Dynavax Technologies Corporation. Dynavax Technologies Corporation is based in Emeryville, California, and was founded in 1996. During the COVID-19 pandemic’s uncertainty, Dynavax acted quickly to focus on four key areas: protecting the health and safety of employees and customers, maintaining effective operations to ensure patient access to HEPLISAV-B [Hepatitis B Vaccine], maintaining financial strength and stability, and supporting efforts to develop a COVID-19 vaccine. The company’s common stock is listed on the NASDAQ under the ticker symbol DVAX.
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