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Note 12 - Revenue by Product Group, by Significant Customer and by Geographic Location; Geographic Information | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | 12. Revenue by Product Group, by Significant Customer and by Geographic Location; Geographic Information Historically, we have categorized our product offerings into four segments: Orthobiologics, Dermal, Surgical, and Other, which included our ophthalmic and veterinary products. Moving forward, we will divide our product portfolio into three categories: Joint Pain Management Therapy, Orthopedic Joint Preservation and Restoration Care, and Other as a result of the Company’s acquisitions of Parcus Medical and Arthrosurface. Product revenue by product group is as follows:
|  | Years Ended December 31,
|  | 2019 |  | 2018 |  | 2017
|  | Revenue |  | Percentage of Product Revenue |  | Revenue |  | Percentage of Product Revenue |  | Revenue |  | Percentage of Product Revenue
Orthobiologics |  |  | $ | 101,002 |  |  |  | 88 | % |  | $ | 93,556 |  |  |  | 89 | % |  | $ | 93,816 |  |  |  | 87 | %
Surgical |  |  |  | 5,183 |  |  |  | 5 | % |  |  | 5,514 |  |  |  | 5 | % |  |  | 5,262 |  |  |  | 5 | %
Dermal |  |  |  | 2,244 |  |  |  | 2 | % |  |  | 396 |  |  |  | 0 | % |  |  | 2,755 |  |  |  | 3 | %
Other |  |  |  | 6,083 |  |  |  | 5 | % |  |  | 6,065 |  |  |  | 6 | % |  |  | 5,950 |  |  |  | 5 | %
|  |  | $ | 114,512 |  |  |  | 100 | % |  | $ | 105,531 |  |  |  | 100 | % |  | $ | 107,783 |  |  |  | 100 | %
Product revenue from the Company’s sole significant customer, Mitek, as a percentage of the Company’s total product revenue was 71%, 73%, and 73% for the years ended December 31, 2019, 2018, and 2017, respectively. Total revenue by geographic location based on the location of the customer in total and as a percentage of total revenue are as follows:
|  | Years Ended December 31,
|  | 2019 |  | 2018 |  | 2017
|  | Total |  | Percentage of |  | Total |  | Percentage of |  | Total |  | Percentage of
|  | Revenue |  | Revenue |  | Revenue |  | Revenue |  | Revenue |  | Revenue
Geographic Location: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 90,302 |  |  |  | 79 | % |  | $ | 85,351 |  |  |  | 81 | % |  | $ | 92,905 |  |  |  | 82 | %
Europe |  |  | 14,744 |  |  |  | 13 | % |  |  | 11,730 |  |  |  | 11 | % |  |  | 12,435 |  |  |  | 11 | %
Other |  |  | 9,564 |  |  |  | 8 | % |  |  | 8,474 |  |  |  | 8 | % |  |  | 8,080 |  |  |  | 7 | %
Total |  | $ | 114,610 |  |  |  | 100 | % |  | $ | 105,555 |  |  |  | 100 | % |  | $ | 113,420 |  |  |  | 100 | %
On May 2, 2018, the Company publicly disclosed a voluntary recall of certain production lots of its HYAFF-based products, HYALOFAST, HYALOGRAFT C, and HYALOMATRIX. The Company initiated the voluntary recall after internal quality testing, which indicated that the products were at risk of not maintaining certain measures throughout their entire shelf life. While there was no indication of any safety or efficacy issue related to the products at the time, the Company removed the products from the field as a precautionary measure. During the three -month period ended March 31, 2018 the Company recorded a revenue reserve for this voluntary recall of $1.1 million of which $0.9 million was related to revenue recorded in prior periods. The revenue reserves impacted Orthopedic Joint Preservation and Restoration Care and Other product groups and all geographic locations. There was no remaining revenue reserve as of December 31, 2019 and 2018. Net long-lived assets, consisting of net property and equipment, are subject to geographic risks because they are generally difficult to move and to effectively utilize in another geographic area in a reasonable time period and because they are relatively illiquid. Net tangible long-lived assets by principal geographic areas are as follows:
|  | Years Ended December 31,
|  | 2019 |  | 2018
United States |  | $ | 48,635 |  |  | $ | 51,385 |
Italy |  |  | 2,148 |  |  |  | 2,726 |
Total |  | $ | 50,783 |  |  | $ | 54,111 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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