Quarterly report pursuant to Section 13 or 15(d)

Concentrations

v3.20.1
Concentrations
3 Months Ended
Mar. 31, 2020
Risks And Uncertainties [Abstract]  
Concentrations

NOTE 13—CONCENTRATIONS

Revenue from the Company’s products for the three months ended March 31, 2020 and 2019 are as follows (dollars in thousands):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2020

 

 

2019

 

Laser systems

 

$

2,051

 

 

 

42.9

%

 

$

5,964

 

 

 

57.8

%

Imaging systems

 

 

 

 

 

%

 

 

552

 

 

 

5.3

%

Consumables and other

 

 

1,472

 

 

 

30.8

%

 

 

2,112

 

 

 

20.5

%

Services

 

 

1,260

 

 

 

26.3

%

 

 

1,695

 

 

 

16.4

%

License fees and royalties

 

 

 

 

 

%

 

 

3

 

 

 

%

Total revenue

 

$

4,783

 

 

 

100.0

%

 

$

10,326

 

 

 

100.0

%

 

No individual customer represented more than 10% of the Company’s revenue for the three months ended March 31, 2020 or 2019.

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.

One individual customer represented more than 10% of the Company’s accounts receivable at March 31, 2020 and December 31, 2019.

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.