Annual report pursuant to Section 13 and 15(d)

Concentrations

v3.22.0.1
Concentrations
12 Months Ended
Dec. 31, 2021
Risks And Uncertainties [Abstract]  
Concentrations

NOTE 10 — CONCENTRATIONS

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

 

 

Years Ended December 31,

 

 

2021

 

 

2020

 

 

2019

 

Laser systems

$

25,023

 

 

63.9

%

 

$

12,342

 

 

54.2

%

 

$

22,842

 

 

60.4

%

Imaging systems

 

 

 

 

 

 

 

 

 

 

 

619

 

 

1.6

%

Consumables and other

 

9,456

 

 

24.1

%

 

 

6,124

 

 

26.9

%

 

 

7,164

 

 

19.0

%

Services

 

4,709

 

 

12.0

%

 

 

4,314

 

 

18.9

%

 

 

7,162

 

 

19.0

%

License fees and royalties

 

 

 

 

 

 

 

 

 

 

 

12

 

 

 

Total revenue

$

39,188

 

 

100

%

 

$

22,780

 

 

100.0

%

 

$

37,799

 

 

100.0

%

 

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.

For the years ended December 31, 2021, 2020, and 2019, sales to our largest distributor worldwide accounted for approximately 5%, 5%, and 4%, respectively, of our net revenue. No individual customer represented more than 10% of the Company’s accounts receivable at December 31, 2021 and 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.