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Note 11 - Revenues | 9 Months Ended
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Sep. 30, 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 and nine months ended September 30, 2021 and 2020:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Instruments, equipment, software and accessories |  | $ | 28,485 |  |  | $ | 21,851 |  |  | $ | 82,304 |  |  | $ | 66,857 |
Service, maintenance and warranty contracts |  |  | 1,178 |  |  |  | 2,186 |  |  |  | 3,545 |  |  |  | 4,259 |
Total revenues |  | $ | 29,663 |  |  | $ | 24,037 |  |  | $ | 85,849 |  |  | $ | 71,116 |
The following tables represent a disaggregation of revenue by geographic destination for the three and nine months ended September 30, 2021 and 2020:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
United States |  | $ | 12,709 |  |  | $ | 11,110 |  |  | $ | 37,300 |  |  | $ | 30,381 |
Europe |  |  | 8,366 |  |  |  | 6,777 |  |  |  | 25,569 |  |  |  | 20,617 |
Asia |  |  | 7,161 |  |  |  | 4,240 |  |  |  | 18,588 |  |  |  | 14,180 |
Rest of the world |  |  | 1,427 |  |  |  | 1,910 |  |  |  | 4,392 |  |  |  | 5,938 |
Total revenues |  | $ | 29,663 |  |  | $ | 24,037 |  |  | $ | 85,849 |  |  | $ | 71,116 |
No customer accounted for more than 10% of revenues for the three and nine months ended September 30, 2021 and 2020. Deferred revenue The following tables provide details of deferred revenue as of the periods indicated:
|  | September 30, |  |  | December 31, |
(in thousands) |  | 2021 |  |  | 2020 |
Service contracts |  | $ | 1,839 |  |  | $ | 1,629 |
Customer advances |  |  | 1,784 |  |  |  | 2,142 |
Total deferred revenue |  | $ | 3,623 |  |  | $ | 3,771 |
During the nine months ended September 30, 2021 and 2020, the Company recognized revenue of $1.4 million and $1.7 million from contract liabilities existing at December 31, 2020 and 2019, respectively. 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:
|  | Nine Months Ended September 30, |
(in thousands) |  | 2021 |  |  | 2020 |
Balance, beginning of period |  | $ | 227 |  |  | $ | 325 |
Bad debt (credit) expense |  |  | (13 | ) |  |  | 24 |
Charge-offs and other |  |  | (71 | ) |  |  | (60 | )
Effect of foreign currency translation |  |  | (5 | ) |  |  | 4 |
Balance, end of period |  | $ | 138 |  |  | $ | 293 |

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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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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