Significant Customers & Concentration of Credit Risk

3 Months Ended

Mar. 31, 2017

Risks and Uncertainties [Abstract]

Significant Customers & Concentration of Credit Risk

Significant Customers & Concentration of Credit Risk

We have a market concentration of revenue in both the automotive sector and financial services & insurance sector. Revenue from the automotive industry accounted for approximately 22% and 20% of our consolidated revenue for the three months ended March 31, 2017 and 2016, respectively. In addition, we have a concentration of revenue from a single automotive customer, which accounted for approximately 13% of our consolidated revenue for both of the three-month periods ended March 31, 2017 and 2016. As of March 31, 2017, accounts receivable from a single automotive customer totaled $14.5 million, or 14% of our consolidated accounts receivable balance.

Revenue from the financial services & insurance industry accounted for approximately 20% and 22% of our consolidated revenue for the three months ended March 31, 2017 and 2016, respectively. In addition, we have a concentration of revenue from a single financial services customer, which accounted for approximately 14% and 15% of our consolidated revenue for the three months ended March 31, 2017 and 2016, respectively. As of March 31, 2017, billed and unbilled accounts receivable from a single financial services customer totaled $31.8 million, or 22%, of our consolidated accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts balances.

No other single customer accounted for more than 10% of our consolidated revenue for the three months ended March 31, 2017 or 2016 or consolidated accounts receivable balance as of March 31, 2017.