Quarterly report pursuant to Section 13 or 15(d)

Concentrations

v3.20.2
Concentrations
9 Months Ended
Sep. 30, 2020
Risks And Uncertainties [Abstract]  
Concentrations

NOTE 13—CONCENTRATIONS

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

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Laser systems

 

$

3,712

 

 

 

56.7

%

 

$

5,167

 

 

 

59.8

%

 

$

6,854

 

 

48.1

%

 

$

16,047

 

 

58.1

%

Imaging systems

 

 

 

 

 

%

 

 

4

 

 

 

0.0

%

 

 

 

 

%

 

 

619

 

 

2.2

%

Consumables and other

 

 

1,929

 

 

 

29.5

%

 

 

1,478

 

 

 

17.1

%

 

 

4,263

 

 

29.9

%

 

 

5,678

 

 

20.6

%

Services

 

 

898

 

 

 

13.8

%

 

 

1,994

 

 

 

23.1

%

 

 

3,143

 

 

22.0

%

 

 

5,264

 

 

19.1

%

License fees and royalties

 

 

 

 

 

%

 

 

3

 

 

 

%

 

 

 

 

%

 

 

9

 

 

%

Total revenue

 

$

6,539

 

 

 

100.0

%

 

$

8,646

 

 

 

100.0

%

 

$

14,260

 

 

100.0

%

 

$

27,617

 

 

100.0

%

 

No individual customer represented more than 10% of the Company’s revenue for the three and nine months ended September 30, 2020 or 2019.

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 September 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.