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Significant Contracts and Concentrations | 6 Months Ended
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Jun. 30, 2022
Risks and Uncertainties [Abstract] |
Significant Contracts and Concentrations | 4. Significant Contracts and Concentrations Qurate Agreements Under the Company’s agreements with Qurate Retail Group (“Qurate”), collectively referred to as the Qurate Agreements, Qurate is obligated to make payments to the Company on a quarterly basis, based primarily upon a percentage of net retail sales of Lori Goldstein, Judith Ripka, and Longaberger branded merchandise. The Company was also previously a party to a similar agreement with Qurate related to the Isaac Mizrahi Brand through May 31, 2022; see Note 2 for details. Net retail sales are defined as the aggregate amount of all revenue generated through the sale of the specified branded products by Qurate and its subsidiaries under the Qurate Agreements, net of customer returns, and excluding freight, shipping and handling charges, and sales, use, or other taxes. Net licensing revenue from the Qurate Agreements represents a significant portion of the Company’s total net revenue.
| ● | Net licensing revenue from the Qurate Agreements totaled $4.05 million and $5.45 million for the current quarter and prior year quarter, respectively, representing approximately 48% and 51% of the Company’s total net revenue for the current quarter and prior year quarter, respectively.
| ● | Net licensing revenue from the Qurate Agreements totaled $9.06 million and $9.19 million for the current six months and prior year six months, respectively, representing approximately 53% and 50% of the Company’s total net revenue for the current six months and prior year six months, respectively.
| ● | As of June 30, 2022 and December 31, 2021, the Company had receivables from Qurate of $4.15 million and $3.51 million, respectively, representing approximately 45% and 46% of the Company’s total net accounts receivable, respectively.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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- References No definition available. + Details
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