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Note 10 - Revenue and Geographic Information
 3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

10.

Revenue and Geographic Information

 

Revenue by product family was as follows: 

 

  

Three Months Ended March 31,

 
  

2022

  

2021

 
         

OA Pain Management

 $22,733  $19,316 

Joint Preservation and Restoration

  12,139   12,219 

Non-Orthopedic

  1,821   2,757 

Total

 $36,693  $34,292 

 

Revenue from the Company’s sole significant customer, DePuy Synthes Mitek Sports Medicine, part of the Johnson & Johnson Medical Companies, as a percentage of the Company’s total revenue was 39% and 41% for the three months ended March 31, 2022 and 2021, respectively.

 

The Company receives payments from its customers based on billing schedules established in each contract. Up-front payments and fees are recorded as deferred revenue upon receipt or when due, and may require deferral of revenue recognition to a future period until the Company performs its obligations under these arrangements. Amounts are recorded as accounts receivable when the Company’s right to consideration is unconditional. Deferred revenue was $0.3 million and $1.0 million as of March 31, 2022 and December 31, 2021, respectively.

 

Total revenue by geographic location based on the location of the customer in total and as a percentage of total revenue were as follows: 

 

  

Three Months Ended March 31,

 
  

2022

  

2021

 
      

Percentage of

      

Percentage of

 
  

Revenue

  

Revenue

  

Revenue

  

Revenue

 

Geographic Location:

                

United States

 $26,773   73

%

 $25,005   73

%

Europe

  5,796   16

%

  5,480   16

%

Other

  4,124   11

%

  3,807   11

%

Total

 $36,693   100

%

 $34,292   100

%