CONCENTRATIONS

12 Months Ended

Dec. 31, 2023

CONCENTRATIONS [Abstract]

CONCENTRATIONS

16. CONCENTRATIONS

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and accounts receivable. At December 31, 2023, five customers accounted for approximately 98% of the Company’s consolidated accounts receivable. At December 31, 2022, two customers accounted for approximately 92% of the Company’s consolidated accounts receivable.

For the year ended December 31, 2023, two customers accounted for approximately 72% of the Company’s consolidated revenues. For the year ended December 31, 2022, two customers accounted for approximately 74% of the Company’s consolidated revenues. For the year ended December 31, 2021, four customers accounted for approximately 81% of the Company’s consolidated revenues.

During the years ended December 31, 2023 and 2022, plasma purchases from Grifols totaled approximately $9.5 million and $47.7 million, respectively, or approximately 21%  and 65%, respectively, of the Company’s total inventory purchases.

Net revenues according to geographic area, based on the location of where the product is shipped, is as follows:

	Years Ended December 31,
(in thousands)	2023		2022		2021
United States	$	244,881	$	146,427	$	70,626
International		13,334		7,653		10,317
Total revenues	$	258,215	$	154,080	$	80,943