Quarterly report pursuant to Section 13 or 15(d)

Concentration of Credit Risk

v3.22.1
Concentration of Credit Risk
3 Months Ended
Mar. 31, 2022
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk

Note 17. Concentration of Credit Risk

(a) Concentration of Sales and Accounts Receivable

The following represents customers that accounted for 10% or more of total revenue during the three months ended March 31, 2022 and 2021:

 

Three months ended March 31,

 

 

2022

 

2021

 

Customer A

 

17

%

 

14

%

Customer B

 

15

%

 

15

%

Customer C

 

12

%

 

25

%

Customer D

 

12

%

 

1

%

The following represents customers that accounted for 10% or more of total trade accounts receivable as of March 31, 2022 and December 31, 2021:

 

March 31, 2022

 

December 31, 2021

 

Customer A

 

16

%

 

29

%

Customer B

 

14

%

 

2

%

Customer C

 

12

%

 

3

%

Customer D

 

4

%

 

11

%

(b) Concentration of Purchases

During the three months ended March 31, 2022, the Company’s products were primarily manufactured by five contract manufacturers with locations in China, Mexico, Minnesota, and Vietnam and at the Company’s Arizona facility (see Note 16).

(c) Concentration of Property and Equipment

The Company’s property and equipment, net by geographic region are as follows (in thousands):

 

 

March 31, 2022

 

December 31, 2021

 

North America

$

2,263

 

$

2,288

 

Asia Pacific (APAC)

 

193

 

 

217

 

Europe, Middle East and Africa (EMEA)

 

191

 

 

193

 

Property and equipment, net

$

2,647

 

$

2,698