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CUSTOMER CONCENTRATION
 12 Months Ended
Dec. 31, 2025
CLOUD COMPUTING SERVICE CONTRACT  
CUSTOMER CONCENTRATION

NOTE 16. CUSTOMER CONCENTRATION

 

The Company monitors customer concentration by identifying customers whose accounts receivable balances individually represent 10% or more of accounts receivable at the balance sheet date, and customers whose revenue for the fiscal year individually represents 10% or more of total revenue. The following sets forth the Company's significant customer concentrations for the periods presented.

 

Accounts Receivable Concentration

 

As of December 31, 2025, two customers accounted for approximately 40% of the Company's gross accounts receivable. 

 

As of December 31, 2024, two customers accounted for approximately 25% of the Company's gross accounts receivable.

 

Revenue Concentration

 

For the year ended December 31, 2025, one customer accounted for approximately 10% of the Company's total revenue. For the year ended December 31, 2024, one customer accounted for approximately 15% of the Company's total revenue. The decrease in the concentration percentage reflects continuing efforts to diversify our customer base.

 

The Company does not have any long-term purchase commitments with any of its significant customers, and there can be no assurance that these customers will continue to purchase the Company's products and services at historical levels or at all. The loss of, or a significant reduction in purchases by, any one of these customers could have a material adverse effect on the Company's revenue and results of operations. See Item 1A, Risk Factors, for further discussion of risks related to customer concentration and the absence of long-term customer contracts.