BIOLASE, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Concentrations

Concentrations

6 Months Ended

Jun. 30, 2020

NOTE 13—CONCENTRATIONS

Revenue from the Company’s products for the three and six months ended June 30, 2020 and 2019 are as follows (dollars in thousands):

	Three Months Ended								Six Months Ended
	June 30,								June 30,
	2020				2019				2020				2019
Laser systems	$	1,091	37.1	%	$	4,917	56.9	%	$	3,142	40.7	%	$	10,880	57.4	%
Imaging systems		—	—	%		63	0.7	%		-	0.0	%		615	3.2	%
Consumables and other		862	29.3	%		2,084	24.1	%		2,334	30.2	%		4,196	22.1	%
Services		985	33.6	%		1,578	18.3	%		2,245	29.1	%		3,273	17.3	%
License fees and royalties		—	—	%		3	—	%		—	—	%		7	—	%
Total revenue	$	2,938	100.0	%	$	8,645	100.0	%	$	7,721	100.0	%	$	18,971	100.0	%

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