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Note 16 - Distribution Agreements | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
License, Collaboration, and Distribution Agreements [Text Block] | NOTE 16. DISTRIBUTION AGREEMENTS Transactions under the Company’s major distribution agreements are recognized upon transfer of control of products sold to its major distribution partners at the amount of consideration that the Company expects to be entitled to. The Company records contract liabilities for the amounts that are estimated to be subject to significant reversal, including allowances for services, discounts, rebate programs, and product returns. Product Sales Discounts and Allowances The following table presents activities and ending reserve balances for each significant category of discounts and allowance, which constitute variable consideration, for the year ended December 31, 2023 (in thousands):
|  | Chargebacks, Discounts for Prompt Payment |  |  | Other Customer Fees |  |  | Rebates |  |  | Total |
Balance at December 31, 2022 |  | $ | 1,673 |  |  | $ | 53 |  |  | $ | 81 |  |  | $ | 1,807 |
Provision related to sales made in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period |  |  | 716 |  |  |  | 321 |  |  |  | 106 |  |  |  | 1,143 |
Payments and customer credits issued |  |  | (1,476 | ) |  |  | (362 | ) |  |  | (166 | ) |  |  | (2,004 | )
Balance at December 31, 2023 |  | $ | 913 |  |  | $ | 12 |  |  | $ | 21 |  |  | $ | 946 |
The following table presents activities and ending reserve balances for each significant category of discounts and allowance, which constitute variable consideration, for the year ended December 31, 2022 (in thousands):
|  | Chargebacks, Discounts for Prompt Payment |  |  | Other Customer Fees |  |  | Rebates |  |  | Total |
Balance at December 31, 2021 |  | $ | 1,150 |  |  | $ | 83 |  |  | $ | 56 |  |  | $ | 1,289 |
Provision related to sales made in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period |  |  | 1,865 |  |  |  | 65 |  |  |  | 448 |  |  |  | 2,378 |
Payments and customer credits issued |  |  | (1,342 | ) |  |  | (95 | ) |  |  | (423 | ) |  |  | (1,860 | )
Balance at December 31, 2022 |  | $ | 1,673 |  |  | $ | 53 |  |  | $ | 81 |  |  | $ | 1,807 |
Avenova Spray Pharmacy Distribution Agreements and Specialty Pharmacies Avenova Spray is made available in local pharmacies and major pharmacy retail chains under nationwide distribution agreements with McKesson Corporation, Cardinal Health and AmerisourceBergen. The Company has also entered into direct agreements with preferred pharmacy networks as part of our Partner Pharmacy Program. During each of the years ended December 31, 2023 and 2022, the Company earned $0.1 million in sales revenue for its Avenova Spray product from these distribution and partner pharmacy agreements. Under these product distribution arrangements, the Company had a contract liability balance of $0.7 million and $1.6 million as of December 31, 2023 and 2022, respectively. The contract liability is included in accrued liabilities in the consolidated balance sheets. Over-the-Counter Sales of Avenova Spray Avenova Spray is offered for sale direct to U.S. customers primarily on Amazon.com, the Company’s website (Avenova.com) and Walmart.com. During the years ended December 31, 2023 and 2022, the revenue generated from Avenova Spray in these channels was $6.1 million and $6.5 million, respectively. DERMAdoctor Branded Products Distribution Agreements DERMAdoctor branded products were sold through distribution arrangements with third parties such as Costco and others. During the years ended December 31, 2023 and 2022, the Company earned $0.7 million and $0.9 million, respectively, in sales revenue for its DERMAdoctor branded products from these distribution agreements. Under these distribution arrangements, the Company had a contract liability balance of $0.2 million as of each of December 31, 2023 and 2022. The contract liability is included in accrued liabilities in the consolidated balance sheets. Subsequent to December 31, 2023, on March 25, 2024, we closed the DERMAdoctor Divestiture. See additional information in Note 21, “Subsequent Events”.

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