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Note 13 - Revenues

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

13. Revenues

The following table represents a disaggregation of revenue from contracts with customers. Revenue originating from the following geographic areas for the three and six months ended June 30, 2020 and 2019 consist of:

		Three Months Ended June 30, 2020
		(in thousands)
		United States				United Kingdom				Germany				Rest of the world				Total
Instruments, equipment, software and accessories		$	16,490			$	1,992			$	2,382			$	1,205			$	22,069
Service, maintenance and warranty contracts			970				211				34				24				1,239
Total revenues		$	17,460			$	2,203			$	2,416			$	1,229			$	23,308

		Three Months Ended June 30, 2019
		(in thousands)
		United States				United Kingdom				Germany				Rest of the world				Total
Instruments, equipment, software and accessories		$	20,920			$	2,399			$	3,271			$	1,753			$	28,343
Service, maintenance and warranty contracts			910				236				79				16				1,241
Total revenues		$	21,830			$	2,635			$	3,350			$	1,769			$	29,584

		Six Months Ended June 30, 2020
		(in thousands)
		United States				United Kingdom				Germany				Rest of the world				Total
Instruments, equipment, software and accessories		$	32,446			$	4,499			$	4,955			$	3,106			$	45,006
Service, maintenance and warranty contracts			1,545				415				73				40				2,073
Total revenues		$	33,991			$	4,914			$	5,028			$	3,146			$	47,079

		Six Months Ended June 30, 2019
		(in thousands)
		United States				United Kingdom				Germany				Rest of the world				Total
Instruments, equipment, software and accessories		$	39,591			$	5,528			$	6,184			$	3,798			$	55,101
Service, maintenance and warranty contracts			2,053				426				176				30				2,685
Total revenues		$	41,644			$	5,954			$	6,360			$	3,828			$	57,786

Deferred revenue

The Company had deferred revenue from service contracts and advance payments from customers of approximately $3.7 million and $3.5 million as of June 30, 2020 and 2019, respectively. Changes in deferred revenue from service contracts and advance payments from customers were as follows:

		Three Months Ended June 30, 2020
		(in thousands)
		Service Contracts				Customer Advances				Total
Balance at March 31, 2020		$	1,410			$	2,263			$	3,673
Deferral of revenue			522				121				643
Recognition of deferred revenue			(489	)			(145	)			(634	)
Effect of foreign currency translation			(30	)			-				(30	)
Balance at June 30, 2020		$	1,413			$	2,239			$	3,652

		Three Months Ended June 30, 2019
		(in thousands)
		Service Contracts				Customer Advances				Total
Balance at March 31, 2019		$	1,666			$	2,049			$	3,715
Deferral of revenue			281				140				421
Recognition of deferred revenue			(344	)			(250	)			(594	)
Effect of foreign currency translation			(10	)			-				(10	)
Balance at June 30, 2019		$	1,593			$	1,939			$	3,532

		Six Months Ended June 30, 2020
		(in thousands)
		Service Contracts				Customer Advances				Total
Balance at December 31, 2019		$	1,587			$	2,362			$	3,949
Deferral of revenue			830				344				1,174
Recognition of deferred revenue			(988	)			(467	)			(1,455	)
Effect of foreign currency translation			(16	)			-				(16	)
Balance at June 30, 2020		$	1,413			$	2,239			$	3,652

		Six Months Ended June 30, 2019
		(in thousands)
		Service Contracts				Customer Advances				Total
Balance at December 31, 2018		$	1,659			$	2,161			$	3,820
Deferral of revenue			1,126				251				1,377
Recognition of deferred revenue			(1,192	)			(473	)			(1,665	)
Effect of foreign currency translation			-				-				-
Balance at June 30, 2019		$	1,593			$	1,939			$	3,532

Allowance for Doubtful Accounts

Allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts receivable. A rollforward of allowance for doubtful accounts is as follows:

		Six Months Ended June 30,
		2020				2019
		(in thousands)
Balance, beginning of period		$	325			$	332
Bad debt expense			4				368
Charge-offs and other recoveries			(40	)			(329	)
Effect of foreign currency translation			1				(1	)
Balance, end of period		$	290			$	370

Concentrations

No customer accounted for more than 10% of the revenues for the three and six months ended June 30, 2020, and 2019, respectively. At June 30, 2020, and December 31, 2019, no customer accounted for more than 10% of net accounts receivable.

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No definition available.

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- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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-Publisher FASB
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