|3 Months Ended|
Mar. 31, 2023
|Risks and Uncertainties [Abstract]|
Revenue from the Company’s products are as follows (dollars in thousands):
No individual customer represented more than 10% of the Company’s revenue for the three months ended March 31, 2023 or 2022.
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 as of March 31, 2023 and December 31, 2022.
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.
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef