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Market Concentrations

12 Months Ended

Dec. 31, 2023

Risks and Uncertainties [Abstract]

Market Concentrations

Market Concentrations

The Company’s principal financial instruments subject to potential concentration of credit risk are accounts receivable, which are unsecured, and cash equivalents. The Company’s cash equivalents consist primarily of money market funds. Certain bank deposits may be in excess of the insurance limits provided by the Federal Deposit Insurance Corporation.

The Company’s primary customers are wholesale pharmaceutical distributors in the U.S.  Total revenues by customer for each customer representing 10% or more of consolidated revenues are summarized below for the years ended December 31:

						2023						2022
Customer 1						29%						22%
Customer 2						26%						29%
Customer 3						24%						24%

The Company’s accounts receivable, net of allowances, due from the customers representing 10% or more of consolidated revenue was 62.3% and 51.8% at December 31, 2023 and 2022, respectively.

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- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 275
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//275/tableOfContent

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- References

No definition available.

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