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Significant risks and uncertainties including business and credit concentrations
6 Months Ended
Jun. 30, 2022
Significant risks and uncertainties including business and credit concentrations  
Significant risks and uncertainties including business and credit concentrations

(3) Significant risks and uncertainties including business and credit concentrations

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, marketable securities, and receivables. The Company’s cash equivalents are held by large, credit worthy financial institutions. Marketable securities consist of short-term investments. The Company has established guidelines relative to credit ratings, diversification and maturities that seek to maintain safety and liquidity. Deposits in these banks may exceed the amounts of insurance provided on such deposits. To date, the Company has not experienced any losses on its deposits of cash and cash equivalents.

The Company controls credit risk through credit approvals, credit limits, and monitoring procedures. The Company performs periodic credit evaluations of its customers and generally does not require collateral. Accounts receivable are recorded net of an allowance for doubtful accounts. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts and the aging of the related invoices and represents the Company’s best estimate of probable credit losses in its existing accounts receivable. The Company had an allowance for doubtful accounts of $45 and $45 at June 30, 2022 and December 31, 2021, respectively.

For the three months ended June 30, 2022, one customer accounted for 13% of revenue. For the six months ended June 30, 2022, no customers accounted for more than 10% of revenue. For the three months ended June 30, 2021, one customer accounted for 12% of revenue. For the six months ended June 30, 2021, no customers accounted for more than 10% of revenue. As of June 30, 2022, one customer accounted for 18% of accounts receivable. As of December 31, 2021, no customers accounted for more than 10% of accounts receivable.