We sell telematics products and services to large global enterprises in the industrial equipment, transportation, and automotive market verticals. One customer in the industrial equipment industry accounted for 17%, 18% and 19% of our consolidated revenue and 14%, 12% and 25% of our consolidated accounts receivable as of and for the years ended February 28, 2023, 2022 and 2021, respectively.

We purchase a significant amount of our inventory from certain manufacturers or suppliers including components, assemblies and electronic manufacturing parts. These suppliers are located in Mexico and Asia, including China. The inventory is purchased under standard supply agreements that outline the terms of the product delivery. The title and risk of loss of the product generally pass to us upon shipment from the manufacturers’ plant or warehouse. Some of these manufacturers accounted for more than 10% of our purchases and accounts payable as follows (rounded):


	Year Ended February 28,
	2023			2022			2021
Inventory purchases:
Supplier A		13	%		14	%		20	%
Supplier B		19	%		13	%		14	%
Supplier C		16	%		15	%		10	%
Supplier D		10	%		10	%		22	%


	As of February 28,
	2023			2022			2021
Accounts Payable:
Supplier A		10	%		3	%		17	%
Supplier B		22	%		15	%		11	%
Supplier C		12	%		11	%		8	%
Supplier D		9	%		7	%		5	%

We are currently reliant upon these manufacturers and suppliers for products. Although we believe that we can obtain products from other sources, the loss of a significant manufacturer or supplier could have a material impact on our financial condition and results of operations as the products that are being purchased may not be available on the same terms from another manufacturer or supplier.