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Note 12 - Revenues
 12 Months Ended
Dec. 31, 2022
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, 2022 and 2021:

 

  

Year Ended December 31,

 

(in thousands)

 

2022

  

2021

 

Instruments, equipment, software and accessories

 $108,165  $114,115 

Service, maintenance and warranty contracts

  5,170   4,789 

Total revenues

 $113,335  $118,904 

 

Deferred revenue

 

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

 

  

December 31,

 

(in thousands)

 

2022

  

2021

 

Service contracts

 $1,530  $1,976 

Customer advances

  1,840   2,290 

Total deferred revenue

 $3,370  $4,266 

 

During the years ended December 31, 2022 and 2021, the Company recognized revenue of $2.5 million and $2.0 million from contract liabilities existing at December 31, 2021 and 2020, respectively.

 

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)

 

2022

  

2021

 

Balance, beginning of period

 $136  $227 

Bad debt expense (credit)

  62   (4)

Charge-offs and other

  (7)  (87)

Balance, end of period

 $191  $136 

 

Concentrations

 

No customer accounted for more than 10% of the revenues for the years ended December 31, 2022, and 2021, or for more than 10% of net accounts receivable at December 31, 2022 and 2021.

 

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)

 

2022

  

2021

 

Balance, beginning of period

 $240  $186 

Expense

  408   319 

(Charges)/Credits

  (380)  (265)

Balance, end of period

 $268  $240