Customer and Supplier Concentration

12 Months Ended

Dec. 31, 2020

Risks and Uncertainties [Abstract]

Customer and Supplier Concentration

NOTE 15 – CUSTOMER AND SUPPLIER CONCENTRATION

Significant customers and suppliers are those that account for greater than 10% of the Company’s revenues and purchases.

The Company’s revenues were concentrated with a few customers for the years ended December 31, 2020 and 2019:

Customer	Total revenues from the customer as a percentage of total revenues for the year ended December 31, 2020			Accounts receivable from the customer as of December 31, 2020 (in thousands)		Total revenues from the customer as a percentage of total revenues for the year ended December 31, 2019			Accounts receivable from the customer as of December 31, 2019 (in thousands)
1		13	%		3,536		14	%	$	184
2		9	%		2,598		13	%		604
3		5	%		94		12	%		235

The loss of the significant customer or the failure to attract new customers could have a material adverse effect on our business, results of operations and financial condition.

The Company’s purchases were concentrated among a few vendors for the years ended December 31, 2020 and 2019:

Vendor	Total purchases from the vendor as a percentage of total cost of revenues for the year ended December 31, 2020			Accounts payable (prepayment) to the vendor as of December 31, 2019 (in thousands)			Total purchases from the vendor as a percentage of total cost of revenues for the year ended December 31, 2019			Accounts payable (prepayment) to the vendor as of December 31, 2019 (in thousands)
1		35	%	$	5,749			49	%	$	1,107
2		13	%	$	2,013			4	%		5,038
3		11	%	$	(22	)		4	%		7

The Company believes there are numerous other suppliers that could be substituted should for the above suppliers become unavailable or non-competitive.