Note 15 - Major Customers and Related Information

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

15.          MAJOR CUSTOMERS AND RELATED INFORMATION

For the three months ended September 30, 2024, revenue from one distributor accounted for approximately 20% of revenue with no other single customer accounting for more than 10% of total revenue. For the three months ended September 30, 2023, revenue from two distributors accounted for approximately 62% and 12% of revenues, respectively, with no other single customer accounting for more than 10% of total revenue.

For the nine months ended September 30, 2024, revenue from two distributors accounted for approximately 28% and 17% of revenue, respectively, with no other single customer accounting for more than 10% of total revenue. For the nine months ended September 30, 2023, revenue from one distributor accounted for approximately 41% of revenue, with no other single customer accounting for more than 10% of total revenue.

At September 30, 2024, accounts receivable from one distributor accounted for 11% of net accounts receivable, with no other single customer accounting for more than 10% of the accounts receivable balance. At December 31, 2023, accounts receivable from one distributor accounted for 67% of net accounts receivable, with no other single customer accounting for more than 10% of the accounts receivable balance.

The following table summarizes revenue by geographic region. Revenue is attributed to countries based on customer’s delivery location:

	For the Three Months				For the Nine Months
	Ended September 30,				Ended September 30,
	2024		2023		2024		2023
Americas	$	585	$	1,347	$	3,583	$	3,225
Europe, Middle East and Africa		7		2,284		51		2,320
Asia Pacific		1		-		8		(1	)
Total revenues	$	593	$	3,631	$	3,642	$	5,544