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Note 11 - Revenues

9 Months Ended

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
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-Name Accounting Standards Codification
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