Customer Concentration

9 Months Ended

Sep. 30, 2021

Risks and Uncertainties [Abstract]

CUSTOMER CONCENTRATION

12. CUSTOMER CONCENTRATION

During the three months ended September 30, 2021 and 2020, the Company had net sales to each of three customers that constituted in excess of 10% of its net sales. Net sales to these three customers respectively represented approximately 44.3% (22.0%, 12.3% and 10.0%) and 45.0% (17.8%, 13.8% and 13.4.%) of the Company’s net sales, respectively, for the three months ended September 30, 2021 and 2020.

During the nine months ended September 30, 2021, the Company had net sales to each of three customers that constituted in excess of 10% of its net sales. Net sales to these three customers represented approximately 45.1% (17.8%, 14.6% and 12.7%) of the Company’s net sales for the nine months ended September 30, 2021. During the nine months ended September 30, 2020, the Company had net sales to each of two customers that constituted in excess of 10% of its net sales. Net sales to these two customers represented approximately 32.8% (17.4% and 15.4%) of the Company’s net sales for the nine months ended September 30, 2020.

At September 30, 2021, four customers constituted at least 10% of the Company’s gross trade accounts receivable. The gross trade accounts receivable balances for these customers represented approximately 63.9% (18.7%, 16.9%, 15.2% and 13.1%) of the Company’s gross trade accounts receivable at September 30, 2021. At December 31, 2020, three customers constituted at least 10% of the Company’s gross trade accounts receivable. The gross trade accounts receivable balances for these customers represented approximately 63.6% (28.8%, 21.1%, and 13.7%) of the Company’s gross trade accounts receivable at December 31, 2020.