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Concentrations
6 Months Ended
Jun. 30, 2024
Risks and Uncertainties [Abstract]  
Concentrations

Note 4: Concentrations

The Company maintains substantially all of its cash and cash equivalents with two financial institutions and are all considered at Level 1 fair value with observable inputs that reflect quoted prices for identical assets or liabilities in active markets.

The Company has one customer that represents more than 10% of consolidated revenue. The table below sets forth the percentage of the Company's consolidated revenue that was attributed to this customer for the periods presented below:

 

 

Six Months Ended June 30,

 

 

Three Months Ended June 30,

 

(In Percentages)

 

2023

 

 

2024

 

 

2023

 

 

2024

 

Customer A

 

 

11

%

 

 

11

%

 

 

11

%

 

 

10

%

 

The Company has one customer that represents more than 10% of consolidated accounts receivable. The Company also has a significant concentration of credit risk arising from receivables due from a network of independent dealers that is above the 10% threshold. These dealers, while independently operated, sell the same brands and collectively represent a substantial portion of the Company's receivables.The table below sets forth the percentage of the Company's outstanding receivable balance that was attributed to this customer, and attributed to the aggregated balance due from the independent dealer network, as of the periods presented below:

 

 

December 31,

 

 

June 30,

 

(In Percentages)

 

2023

 

 

2024

 

Concentration type:

 

 

 

 

 

 

    Customer A

 

 

21

%

 

 

21

%

    Independent dealer network A

 

 

16

%

 

 

13

%