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Major Customers, Accounts Receivable and Vendor Concentration | 9 Months Ended
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Sep. 30, 2024
Risks and Uncertainties [Abstract] |
Major Customers, Accounts Receivable and Vendor Concentration | 13. MAJOR CUSTOMERS, ACCOUNTS RECEIVABLE AND VENDOR CONCENTRATION The table below represents the Company’s major customers that accounted for more than 10% of total net sales for the periods:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Customer A |  |  | 13 | % |  |  | 13 | % |  |  | 14 | % |  |  | 13 | %
Customer B |  | * |  |  | * |  |  |  | 10 | % |  |  | 11 | %
Customer C |  |  | 13 | % |  | * |  |  |  | 11 | % |  | * |
Customer D |  | * |  |  |  | 11 | % |  | * |  |  | * |
The table below represents the Company’s customers that accounted for more than 10% of total accounts receivable, net as of:
|  | September 30, 2024 |  |  | December 31, 2023 |  |
Customer B |  | * |  |  |  | 13 | % |
Customer D |  |  | 17 | % |  | * |  |
Customer I |  | * |  |  |  | 18 | % |
The table below represents raw material and finished goods vendors that accounted for more than 10% of all raw material and finished goods purchases for the following periods:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Vendor A |  | * |  |  |  | 22 | % |  | * |  |  |  | 22 | %
Vendor B |  | * |  |  |  | 13 | % |  | * |  |  |  | 16 | %
Vendor C |  | * |  |  |  | 11 | % |  | * |  |  |  | 13 | %
Vendor D |  |  | 28 | % |  | * |  |  |  | 34 | % |  | * |
Vendor E |  |  | 31 | % |  | * |  |  |  | 29 | % |  | * |
Vendor F |  |  | 28 | % |  | * |  |  |  | 25 | % |  | * |
Vendor G |  | * |  |  |  | 21 | % |  | * |  |  |  | 14 | %
The increase in vendor concentration during the three and nine months ended September 30, 2024 and 2023 was driven by the changes made in our supply chain whereby our contract manufacturers are responsible for the procurement of raw materials to produce our products, which are then sold to us as finished goods. * Less than 10% of total net sales, accounts receivable, net or raw material and finished goods purchases in the respective periods.

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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 -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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