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Note 3 - Accounts Receivable, Net
12 Months Ended
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):

 

   

December 31, 2022

   

December 31, 2021

 

Trade accounts receivable

  $ 27,600     $ 29,646  

Royalty revenue receivable

    12,750       2,880  

Total accounts receivable

  $ 40,350     $ 32,526  

 

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 not 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.