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Note 11 - Revenues

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

11. Revenues

The following tables represent a disaggregation of revenue from contracts with customers for the three months ended March 31, 2021 and 2020:

		Three Months Ended March 31,
(in thousands)		2021				2020
Instruments, equipment, software and accessories		$	25,827			$	22,937
Service, maintenance and warranty contracts			1,162				834
Total revenues		$	26,989			$	23,771

The following tables represent a disaggregation of revenue by geographic destination for the three months ended March 31, 2021 and 2020:

		Three Months Ended March 31,
(in thousands)		2021				2020
United States		$	11,177			$	9,930
Europe			8,589				7,643
Asia			5,538				4,422
Rest of the world			1,685				1,776
Total revenues		$	26,989			$	23,771

No customer accounted for more than 10% of revenues for the three months ended March 31, 2021 and 2020.

Deferred revenue

Changes in deferred revenue from service contracts and advance payments from customers were as follows:

		Three Months Ended March 31, 2021
		Service				Customer
(in thousands)		Contracts				Advances				Total
Balance, beginning of period		$	1,629			$	2,142			$	3,771
Deferral of revenue			1,251				341				1,592
Recognition of deferred revenue			(1,165	)			(558	)			(1,723	)
Effect of foreign currency translation			(3	)			-				(3	)
Balance, end of period		$	1,712			$	1,925			$	3,637

		Three Months Ended March 31, 2020
		Service				Customer
(in thousands)		Contracts				Advances				Total
Balance, beginning of period		$	1,587			$	2,362			$	3,949
Deferral of revenue			308				223				531
Recognition of deferred revenue			(499	)			(322	)			(821	)
Effect of foreign currency translation			14				-				14
Balance, end of period		$	1,410			$	2,263			$	3,673

Allowance for Doubtful Accounts

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

		Three Months Ended March 31,
(in thousands)		2021				2020
Balance, beginning of period		$	227			$	325
Bad debt expense			5				4
Charge-offs and other recoveries			26				(31	)
Effect of foreign currency translation			(4	)			(1	)
Balance, end of period		$	254			$	297

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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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

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