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Note 11 - Revenue and Geographic Information | 6 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] |
11. | Revenue and Geographic Information
Revenue by product family was as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
OA Pain Management |  | $ | 25,741 |  |  | $ | 24,321 |  |  | $ | 48,474 |  |  | $ | 43,637 |
Joint Preservation and Restoration |  |  | 12,095 |  |  |  | 11,884 |  |  |  | 24,234 |  |  |  | 24,103 |
Non-Orthopedics |  |  | 1,821 |  |  |  | 1,940 |  |  |  | 3,642 |  |  |  | 4,697 |
|  | $ | 39,657 |  |  | $ | 38,145 |  |  | $ | 76,350 |  |  | $ | 72,437 |
Revenue from the Company’s sole significant customer, DePuy Synthes Mitek Sports Medicine (“Mitek”), part of the Johnson & Johnson Medical Companies, as a percentage of the Company’s total revenue was 45% and 46% for the three months ended June 30, 2022 and 2021, respectively, and 42% and 44% for the six months ended June 30, 2022 and 2021, respectively The Company receives payments from our customers based on billing schedules established in each contract. Up-front payments are recorded as deferred revenue upon receipt or when due and may require deferral of revenue recognition to a future period until we perform our obligations under these arrangements. Amounts are recorded as accounts receivable when our right to consideration is unconditional. Deferred revenue was $0.3 million and $1.0 million as of June 30, 2022 and December 31, 2021, respectively. Total revenue by geographic location was as follows:
|  | Three Months Ended June 30, |
|  | 2022 |  |  | 2021 |
|  | Total |  |  | Percentage of |  |  | Total |  |  | Percentage of |
|  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |
Geographic Location: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 29,686 |  |  |  | 75 | % |  | $ | 30,069 |  |  |  | 79 | %
Europe |  |  | 5,292 |  |  |  | 13 | % |  |  | 5,089 |  |  |  | 13 | %
Other |  |  | 4,679 |  |  |  | 12 | % |  |  | 2,987 |  |  |  | 8 | %
Total |  | $ | 39,657 |  |  |  | 100 | % |  | $ | 38,145 |  |  |  | 100 | %
|  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |
|  | Total |  |  | Percentage of |  |  | Total |  |  | Percentage of |
|  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |
Geographic Location: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 56,459 |  |  |  | 73 | % |  | $ | 55,074 |  |  |  | 76 | %
Europe |  |  | 11,088 |  |  |  | 15 | % |  |  | 10,570 |  |  |  | 15 | %
Other |  |  | 8,803 |  |  |  | 12 | % |  |  | 6,793 |  |  |  | 9 | %
Total |  | $ | 76,350 |  |  |  | 100 | % |  | $ | 72,437 |  |  |  | 100 | %

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