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CONCENTRATIONS | 12 Months Ended
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Dec. 31, 2024
Risks and Uncertainties [Abstract] |
CONCENTRATIONS | 22. CONCENTRATIONS For the year ended December 31, 2024, 2023 and 2022, no single customer accounted for greater than 10% of total revenues in 2024, one customer accounted for greater than 10% of total revenues in 2023, and no single customer accounted for greater than 10% of total revenues in 2022. For the year ended December 31, 2024, 2023 and 2022, the Company’s top five customers accounted for 22%, 30% and 24% of the Company’s revenues of continuing operations, respectively. TAOPING INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS The Company’s top five accounts receivable accounted for 45% and 48% of accounts receivable as of December 31, 2024 and 2023, respectively. Two and one customers each accounted for greater than 10% of accounts receivable as of December 31, 2024 and 2023, respectively. For the year ended December 31, 2024, 2023 and 2022, approximately 78%, 59% and 37%, respectively, of total inventory purchases were from five unrelated suppliers. One supplier accounted for greater than 10% of total inventory purchases in 2024, two and one suppliers each accounted for greater than 10% of total inventory purchases in 2023 and 2022, 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 -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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