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 22% and 15% of our consolidated revenue for the three months ended May 31, 2021 and 2020, respectively. The same customer accounted for 21% and 25% of our consolidated accounts receivable at May 31, 2021 and February 28, 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. For the three months ended May 31, 2021 and 2020, four of our suppliers accounted for approximately 62% and 68% of our total inventory purchases, respectively. As identified below, some of these manufacturers accounted for more than 10% of our accounts payable as follows (rounded):

	May 31,			February 28,
	2021			2021
Accounts payable:
Supplier A		14	%		17	%
Supplier B		12	%		11	%
Supplier C		12	%		5	%

We are currently reliant upon these suppliers for products. Although we believe that we can obtain products from other sources, the loss of a significant 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 similar terms from another supplier.