Quarterly report pursuant to Section 13 or 15(d)

Concentrations

v3.21.2
Concentrations
 6 Months Ended
Jun. 30, 2021
Risks And Uncertainties [Abstract]  
Concentrations

NOTE 13—CONCENTRATIONS

Revenue from the Company’s products are as follows (dollars in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Laser systems

 

$

5,720

 

 

 

62.6

%

 

$

1,091

 

 

 

37.1

%

 

$

10,540

 

 

 

61.1

%

 

$

3,142

 

 

 

40.7

%

Consumables and other

 

 

2,358

 

 

 

25.8

%

 

 

862

 

 

 

29.3

%

 

 

4,595

 

 

 

26.6

%

 

 

2,334

 

 

 

30.2

%

Services

 

 

1,056

 

 

 

11.6

%

 

 

985

 

 

 

33.6

%

 

 

2,115

 

 

 

12.3

%

 

 

2,245

 

 

 

29.1

%

Total net revenue

 

$

9,134

 

 

 

100.0

%

 

$

2,938

 

 

 

100.0

%

 

$

17,250

 

 

 

100.0

%

 

$

7,721

 

 

 

100.0

%

 

No individual customer represented more than 10% of the Company’s revenue for the three and six months ended June 30, 2021 or 2020.

The Company maintains its cash and cash equivalents in money market investment accounts with established commercial banks. Such cash deposits periodically exceed the Federal Deposit Insurance Corporation insured limit.

No individual customer represented more than 10% of the Company’s accounts receivable at June 30, 2021 and December 31, 2020.

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.