Revenues

Trade receivables represent an unconditional right to consideration in exchange for goods or services transferred to a customer. The Company invoices its customers in accordance with the terms of the contract. Credit terms are generally net 30 from the date of invoice. The timing between the satisfaction of performance obligations and when payment is due from the customer is generally not significant. The Company records allowances for doubtful trade receivables when it is probable that the balances will not be collected.

Trade receivables, net

The following table shows the components of Trade receivables, net:



	As of
(in thousands)	March 31, 2020			December 31, 2019
Trade receivables	$	6,265		$	8,057
Less: Allowance for doubtful accounts	(624		)	(627		)
Trade receivables, net	$	5,641		$	7,430

For the three months ended March 31, 2020 and 2019, the Company recognized zero and zero of bad debt expense, respectively.

Disaggregation of Revenue and Earnings from Equity Method Investments

During the three months ended March 31, 2020 and 2019, all performance obligations related to revenues recognized were satisfied at a point in time. The Company disaggregates its revenues by major components as well as between its two reportable segments, which are further discussed in Note 13 to the Condensed Consolidated Financial Statements. The following tables disaggregate revenues by major component for the three months ended March 31, 2020 and 2019 (in thousands):



	Three Months Ended March 31, 2020
	Segment
	PGI		RC		Other		Total
Revenue component
Consumables	$	8,475	$	—	$	742	$	9,217
License royalties, related party	—		3,046		—		3,046
Revenues from customers	8,475		3,046		742		12,263

Earnings from equity method investments	—		8,273		—		8,273

Total revenues from customers and earnings from equity method investments	$	8,475	$	11,319	$	742	$	20,536



	Three Months Ended March 31, 2019
	Segment
	PGI		RC		Other		Total
Revenue component
Consumables	$	14,553	$	—	$	556	$	15,109
License royalties, related party	—		4,220		—		4,220
Revenues from customers	14,553		4,220		556		19,329

Earnings from equity method investments	—		21,690		—		21,690

Total revenues from customers and earnings from equity method investments	$	14,553	$	25,910	$	556	$	41,019