Significant Customers & Concentration of Credit Risk

9 Months Ended

Sep. 30, 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% of our consolidated revenue for both of the nine-month periods ended September 30, 2017 and 2016. 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 nine-month periods ended September 30, 2017 and 2016. As of September 30, 2017, accounts receivable from a single automotive customer totaled $10.9 million, or 11%, of our consolidated accounts receivable balance.

Revenue from the financial services & insurance industry accounted for approximately 20% and 21% of our consolidated revenue for the nine months ended September 30, 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 nine months ended September 30, 2017 and 2016, respectively. As of September 30, 2017, billed and unbilled accounts receivable from a single financial services customer totaled $28.3 million, or 19%, 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 nine months ended September 30, 2017 or 2016 or consolidated accounts receivable balance as of September 30, 2017.