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Note 11 - Revenue and Geographic Information
 9 Months Ended
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

%