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Note 11 - Revenue and Geographic Information | 9 Months Ended
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Sep. 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
OA Pain Management |  | $ | 25,665 |  |  | $ | 26,153 |  |  | $ | 74,139 |  |  | $ | 69,790 |
Joint Preservation and Restoration |  |  | 11,821 |  |  |  | 11,193 |  |  |  | 36,055 |  |  |  | 35,296 |
Non-Orthopedics |  |  | 2,778 |  |  |  | 2,190 |  |  |  | 6,420 |  |  |  | 6,887 |
|  | $ | 40,264 |  |  | $ | 39,536 |  |  | $ | 116,614 |  |  | $ | 111,973 |
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 51% for the three months ended September 30, 2022 and 2021, respectively, and 43% and 46% for the nine months ended September 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 $0.1 million and $1.0 million as of September 30, 2022 and December 31, 2021, respectively. Total revenue by geographic location was as follows:
|  | Three Months Ended September 30, |
|  | 2022 |  |  | 2021 |
|  | Total |  |  | Percentage of |  |  | Total |  |  | Percentage of |
|  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |
Geographic Location: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 31,093 |  |  |  | 77 | % |  | $ | 30,910 |  |  |  | 78 | %
Europe |  |  | 4,885 |  |  |  | 12 | % |  |  | 4,238 |  |  |  | 11 | %
Other |  |  | 4,286 |  |  |  | 11 | % |  |  | 4,388 |  |  |  | 11 | %
Total |  | $ | 40,264 |  |  |  | 100 | % |  | $ | 39,536 |  |  |  | 100 | %
|  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |
|  | Total |  |  | Percentage of |  |  | Total |  |  | Percentage of |
|  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |
Geographic Location: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 87,552 |  |  |  | 75 | % |  | $ | 85,984 |  |  |  | 77 | %
Europe |  |  | 15,973 |  |  |  | 14 | % |  |  | 14,808 |  |  |  | 13 | %
Other |  |  | 13,089 |  |  |  | 11 | % |  |  | 11,181 |  |  |  | 10 | %
Total |  | $ | 116,614 |  |  |  | 100 | % |  | $ | 111,973 |  |  |  | 100 | %

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