Note 3 - Accounts Receivable, Net |
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||
Notes to Financial Statements | |||||||||||||||||||||||||||||||||||||
Accounts Receivable [Text Block] |
Note 3—Accounts Receivable, Net
Accounts receivable, net consisted of the following (in thousands):
Trade accounts receivable consist entirely of amounts owed from the Company’s customers related to product sales. Royalty revenue receivable represents amounts owed related to royalty revenue recognized based on the Company’s sub-licensees’ sales in their respective territories in the years ended December 31, 2022 and 2021.
For all accounts receivable, the Company recognized credit losses based on lifetime expected losses. In determining estimated credit losses, the Company evaluated its historical loss rates, current economic conditions and reasonable and supportable forecasts of future economic conditions. The Company did record any credit loss expense in the year ended December 31, 2022, a recovery of credit loss expense of $1.0 million in year ended December 31, 2021, and a credit loss expense of $1.0 million in year ended December 31, 2020.
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