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Major Customers, Accounts Receivable and Vendor Concentration

9 Months Ended

Sep. 30, 2022

Risks and Uncertainties [Abstract]

Major Customers, Accounts Receivable and Vendor Concentration

14. MAJOR CUSTOMERS, ACCOUNTS RECEIVABLE AND VENDOR CONCENTRATION

The table below represents the Company’s major customers which accounted for more than 10% of total net sales for the following periods:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2022				2021				2022				2021
Customer A			15	%			20	%			16	%			19	%
Customer B		*					17	%			10	%			17	%
Customer C		*					12	%		*					11	%
Customer D		*					10	%		*					11	%

The table below represents the Company’s customers which accounted for more than 10% of total accounts receivable, net as of:

		September 30, 2022				December 31, 2021
Customer B		*					13	%
Customer D			18	%			15	%
Customer E			12	%			11	%
Customer F		*					12	%
Customer H			14	%		*

The table below represents raw material vendors that accounted for more than 10% of all raw material purchases for the following periods:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2022				2021				2022				2021
Vendor A			27	%			37	%			28	%			34	%
Vendor B			25	%			18	%			16	%			21	%
Vendor C			15	%			12	%			13	%			13	%

* Less than 10% of total net sales, accounts receivable, net or raw material purchases.

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- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-URI https://asc.fasb.org/topic&trid=2134479

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- References

No definition available.

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