Note 8 - Revenue Recognition

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

(8)      Revenue Recognition

Revenue from Product Sales

The following tables present the Company’s revenue disaggregated by business segment and geography, based on management’s assessment of available data:

	Three Months Ended June 30, 2024									Three Months Ended June 30, 2023
			Outside		Total		% of Total					Outside		Total		% of Total
	U.S.		U.S.		Revenues		Revenues			U.S.		U.S.		Revenues		Revenues
Theranostics Products	$	2,030,018	$	139,113	$	2,169,131		68	%	$	1,605,313	$	130,730	$	1,736,043		56	%
Cobalt Products		588,599		3,600		592,199		19	%		395,395		52,863		448,258		14	%
Nuclear Medicine Products		230,914		176,989		407,903		13	%		732,524		195,340		927,864		30	%
Medical Devices Products		—		—		—		0	%		—		—		—		0	%
Fluorine Products		—		—		—		0	%		—		—		—		0	%
	$	2,849,531	$	319,702	$	3,169,233		100	%	$	2,733,232	$	378,933	$	3,112,165		100	%

	Six Months Ended June 30, 2024									Six Months Ended June 30, 2023
			Outside		Total		% of Total					Outside		Total		% of Total
	U.S.		U.S.		Revenues		Revenues			U.S.		U.S.		Revenues		Revenues
Radiochemical Products	$	3,650,544	$	423,669	$	4,074,213		67	%	$	3,230,429	$	268,010	$	3,498,439		56	%
Cobalt Products		803,967		22,200		826,167		14	%		537,553		69,013		606,566		10	%
Nuclear Medicine Products		766,343		406,968		1,173,311		19	%		1,604,112		492,583		2,096,695		34	%
Medical Devices Products		—		—		—		0	%		—		—		—		0	%
Fluorine Products		—		—		—		0	%		—		—		—		0	%
	$	5,220,854	$	852,837	$	6,073,691		100	%	$	5,372,094	$	829,606	$	6,201,700		100	%

The Company’s revenue consists primarily of distribution of theranostics including sodium iodide I-131 drug product, calibration and reference standards manufactured for use in the nuclear medicine industry, and cobalt source manufacturing. With the exception of certain unique products, the Company’s normal operating cycle is considered to be one year. Due to the time required to produce some cobalt products, the Company’s operating cycle for those products is considered to be two to three years. Accordingly, preliminary payments received on cobalt contracts where shipment has not taken place have been recorded as unearned revenue on the Company’s condensed consolidated balance sheets and classified under current or long-term liabilities, depending upon estimated ship dates. For the six months ended June 30, 2024, the Company reported current unearned revenue of $733,505. For the period ended December 31, 2023, the Company reported current unearned revenue of $932,682. These unearned revenues will be recognized as revenue in the periods during which the cobalt shipments take place.

Contract Balances

The Company records a receivable when it has an unconditional right to receive consideration after the performance obligations are satisfied.  As of  June 30, 2024, and December 31, 2023, accounts receivable totaled $1,135,987 and $1,469,298, respectively.  For the six months ended June 30, 2024, the Company did not incur material impairment losses with respect to its receivables.