Concentration of Credit Risk

12 Months Ended

Dec. 31, 2020

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

NOTE 3. CONCENTRATION OF CREDIT RISK

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, short-term investments and accounts receivable, including receivables from major customers.

The Company has financial institutions for banking operations that hold 10% or more of the Company’s cash and cash equivalents. As of December 31, 2020, three of the Company's financial institutions held 53%, 16% and 14% of the Company’s cash and cash equivalents, respectively. As of December 31, 2019, two of the Company's financial institutions held 73% and 18% of the Company’s cash and cash equivalents, respectively.

The Company grants credit to domestic and international clients in various industries. Exposure to losses on accounts receivable is principally dependent on each client's financial position. The Company had one customer that accounted for 11% of the Company's net accounts receivable balance as of December 31, 2019. None of the Company's customers accounted for 10% or more of the net accounts receivable balance as of December 31, 2020.

The Company did not have any customers who represented 10% or more of the Company’s total revenue for the years ended December 31, 2020, 2019 and 2018.