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Note 12 - Revenues

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

12. Revenues

The following table represents a disaggregation of revenue from contracts with customers for the years ended December 31, 2021 and 2020:

		Year Ended December 31,
(in thousands)		2021				2020
Instruments, equipment, software and accessories		$	114,115			$	97,473
Service, maintenance and warranty contracts			4,789				4,627
Total revenues		$	118,904			$	102,100

Deferred revenue

The following tables provide details of deferred revenue as of the periods indicated:

		December 31,
(in thousands)		2021				2020
Service contracts		$	1,976			$	1,629
Customer advances			2,290				2,142
Total deferred revenue		$	4,266			$	3,771

During each of the years ended December 31, 2021 and 2020, the Company recognized revenue of $2.0 million from contract liabilities existing at December 31, 2020 and 2019.

Allowance for Doubtful Accounts

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

		December 31,
(in thousands)		2021				2020
Balance, beginning of period		$	227			$	325
Bad debt (credit) expense			(4	)			17
Charge-offs and other			(87	)			(115	)
Balance, end of period		$	136			$	227

Concentrations

No customer accounted for more than 10% of the revenues for the years ended December 31, 2021, and 2020. At December 31, 2021 and 2020, no customer accounted for more than 10% of net accounts receivable.

Warranties

Warranties are estimated and accrued at the time revenues are recorded. A rollforward of the Company’s product warranty accrual is as follows:

		December 31,
(in thousands)		2021				2020
Balance, beginning of period		$	186			$	252
Expense			319				77
(Charges)/Credits			(265	)			(143	)
Balance, end of period		$	240			$	186

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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=123351226&loc=SL49130551-203045

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