Quarterly report pursuant to Section 13 or 15(d)

Concentrations

v3.19.3
Concentrations
9 Months Ended
Sep. 30, 2019
Risks And Uncertainties [Abstract]  
Concentrations

NOTE 13—CONCENTRATIONS

Revenue from the Company’s products for the three and nine months ended September 30, 2019 and 2018 are as follows (dollars in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Laser systems

 

$

5,167

 

 

 

59.8

%

 

$

7,055

 

 

 

64.5

%

 

$

16,047

 

 

 

58.1

%

 

$

20,678

 

 

 

62.5

%

Imaging systems

 

 

4

 

 

 

%

 

 

382

 

 

 

3.5

%

 

 

619

 

 

 

2.2

%

 

 

1,336

 

 

 

4.0

%

Consumables and other

 

 

1,478

 

 

 

17.1

%

 

 

1,902

 

 

 

17.4

%

 

 

5,678

 

 

 

20.6

%

 

 

6,239

 

 

 

18.9

%

Services

 

 

1,994

 

 

 

23.1

%

 

 

1,594

 

 

 

14.6

%

 

 

5,264

 

 

 

19.1

%

 

 

4,848

 

 

 

14.6

%

License fees and royalties

 

 

3

 

 

 

%

 

 

3

 

 

 

%

 

 

9

 

 

 

%

 

 

9

 

 

 

%

Net revenue

 

$

8,646

 

 

 

100.0

%

 

$

10,936

 

 

 

100.0

%

 

$

27,617

 

 

 

100.0

%

 

$

33,110

 

 

 

100.0

%

 

No individual customer represented more than 10% of the Company’s net revenue for the three and nine months ended September 30, 2019 or 2018.

The Company maintains its cash and cash equivalent accounts with established commercial banks. Such cash deposits periodically exceed the Federal Deposit Insurance Corporation insured limit.

There were no individual customers that represented more than 10% of the Company’s accounts receivable at September 30, 2019, and one individual customer that represented more than 10% of the Company’s accounts receivable at December 31, 2018.

The Company currently purchases certain key components of its products from single suppliers. Although there are a limited number of manufacturers of these key components, management believes that other suppliers could provide similar key components on comparable terms. A change in suppliers, however, could cause delays in manufacturing and a possible loss of sales, which could adversely affect the Company’s business, results of operations and financial condition.