Revenue Recognition

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

(9) 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 September 30, 2020									Three Months Ended September 30, 2019
	U.S.		Outside U.S.		Total Revenues		% of Total Revenues			U.S.		Outside U.S.		Total Revenues		% of Total Revenues
Radiochemical Products	$	1,149,698	$	144,848	$	1,294,546		45	%	$	917,886	$	18,770	$	936,656		40	%
Cobalt Products		544,989		—		544,989		19	%		97,849		—		97,849		4	%
Nuclear Medicine Products		755,556		202,737		958,293		34	%		1,022,291		—		1,022,291		44	%
Radiological Services		54,760		—		54,760		2	%		280,692		—		280,692		12	%
Fluorine Products		11,700		—		11,700		0	%		—		—		—		0	%
	$	2,516,703	$	347,585	$	2,864,288		100	%	$	2,318,718	$	18,770	$	2,337,488		100	%

	Nine Months Ended September 30, 2020									Nine Months Ended September 30, 2019
	U.S.		Outside U.S.		Total Revenues		% of Total Revenues			U.S.		Outside U.S.		Total Revenues		% of Total Revenues
Radiochemical Products	$	2,807,241	$	355,579	$	3,162,820		43	%	$	2,151,960	$	22,035	$	2,173,995		31	%
Cobalt Products		1,067,417		7,858		1,075,275		15	%		687,177		—		687,177		10	%
Nuclear Medicine Products		2,215,330		562,960		2,778,290		38	%		3,023,425		30,484		3,053,909		44	%
Radiological Services		171,048		—		171,048		2	%		1,086,098		—		1,086,098		16	%
Fluorine Products		172,200		—		172,200		2	%		—		—		—		0	%
	$	6,433,236	$	926,397	$	7,359,633		100	%	$	6,948,660	$	52,519	$	7,001,179		100	%

The Company’s revenue consists primarily of calibration and reference standards manufactured for use in the nuclear medicine industry, distribution of radiochemicals including sodium iodide I-131 drug product, 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 will not take place for greater than one year, 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 nine months ended September 30, 2020, the Company reported current unearned revenue of $1,198,910. For the period ended December 31, 2019, the Company reported current unearned revenue of $1,240,205. 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 September 30, 2020, and December 31, 2019, accounts receivable totaled $1,184,105 and $875,914, respectively.  For the nine months ended September 30, 2020, the Company did not incur material impairment losses with respect to its receivables.