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Concentrations
12 Months Ended
Dec. 31, 2020
Risks and Uncertainties [Abstract]  
Concentrations
16. Concentrations

 

Revenues from the Company’s services to a limited number of customers have accounted for a substantial percentage of the Company’s total revenues. For the twelve months ended December 31, 2020, the Company’s two largest customers, State of Michigan (“Michigan”), a direct customer, and Quicken Loans, a direct customer, accounted for approximately 47% and 8%, respectively, of the Company’s total revenue for that period. For the twelve months ended December 31, 2019, the Company’s two largest customers, Loffler, Inc. (including their acquisition of Laser Systems, Inc.), a reseller, and Franklin County Board of Developmental Disabilities, a direct client, each accounted for approximately 6%, of the Company’s revenues for that period.

 

For the twelve months ended December 31, 2020, and 2019, government contracts represented approximately 64% and 41% of the Company’s net revenues, respectively. A significant portion of the Company’s sales to Resellers represent ultimate sales to government agencies.

 

As of December 31, 2020, accounts receivable concentrations from the Company’s two largest customers were 54% and 16% of gross accounts receivable, respectively, and as of December 31, 2019, accounts receivable concentrations from the Company’s four largest customers were 25%, 25%, 16% and 12% of gross accounts receivable, respectively. Accounts receivable balances from the Company’s two largest customers at December 31, 2020 have been partially collected.