GEOGRAPHIC INFORMATION AND CONCENTRATIONS

3 Months Ended

Mar. 31, 2022

GEOGRAPHIC INFORMATION AND CONCENTRATIONS

The Company headquarters and substantially all of its operations, including its long-lived assets, are located in the United States. Geographical sales information based on the location of the customer was as follows:


	Three months ended March 31,
	2022		2021
Net sales by region:
Domestic	$	62,381	$	55,868
International	21,802		7,854
Total	$	84,183	$	63,722

The Company’s principal direct customers as of March 31, 2022 consist primarily of leading international, foreign and domestic banks and other credit card issuers primarily within the U.S., Europe, Asia, Latin America, Canada, and the Middle East. The Company periodically assesses the financial strength of these customers and establishes allowances for anticipated losses, if necessary.

Two customers individually accounted for more than 10% of the Company’s revenue or 64.9%, combined, of total revenue for the three months ended March 31, 2022. Two customers individually accounted for more than 10% of the Company’s revenue or 77.1%, combined, of total revenue for the three months ended March 31, 2021. Four customers individually accounted for more than 10% of the Company’s accounts receivable or approximately 95% and two customers individually accounted for more than 10% or 66% of total accounts receivable as of March 31, 2022 and December 31, 2021, respectively.

The Company primarily relied on one vendor that individually accounted for more than 10% of purchases of supplies for the three months ended March 31, 2022. Purchases of supplies from this vendor totaled approximately 11% of total purchases for the three months ended March 31, 2022. The Company primarily relied on four vendors that individually accounted for more than 10% of purchases of supplies for the three months ended March 31, 2021 or approximately 68% of total purchases for the three months ended March 31, 2021.