Note 5 - Accounts Receivable and Revenues

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Accounts Receivable and Revenues [Text Block}

NOTE 5. ACCOUNTS RECEIVABLE AND REVENUES

Amounts billed and due from our customers are classified as accounts receivable on our consolidated balance sheets and require payment on a short-term basis. Invoices are generally issued at the point control transfers and substantially all of our invoices are due within 30 days or less, however certain customers have terms of up to 120 days. For substantially all of our contracts, control of the ordered product(s) transfers at our location. Periodically, we require payment prior to the point in time we recognize revenue. Amounts received from customers prior to revenue recognition on a contract are contract liabilities, are classified as customer prepayments liability on our consolidated balance sheets and are typically applied to an invoice within 30 days of the prepayment. Revenues in the three months ended March 31, 2022 and 2021, include $0.1 million, or less, in unearned revenue as of the end of the prior year.

Our accounts receivable potentially subject us to significant concentrations of credit risk. Revenues and accounts receivable from significant customers (customers with revenue or accounts receivable in excess of 10% of consolidated totals) are stated below as a percent of consolidated totals.

	Customer
	A			B
% of revenue, three months ended March 31, 2022		11	%		11	%
% of revenue, three months ended March 31, 2021		5	%		10	%
% of accounts receivable, as of March 31, 2022		4	%		18	%
% of accounts receivable, as of December 31, 2021		15	%		8	%

The following table presents revenues by geographic area shipped to (in thousands).

	Three Months Ended March 31,
	2022		2021
United States	$	10,246	$	8,196
Other countries		313		409
Revenues	$	10,559	$	8,605