Note 8 - Revenue

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

8. Revenue

The following table presents net sales by geographic areas for the three months ended March 31:

	2023		2022
United States	$	1,372,000	$	1,958,000
Singapore		404,000		-
Other		796,000		705,000
Total	$	2,572,000	$	2,663,000

The following tables summarize the revenues by product line and type:

	Three Months Ended March 31, 2023
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	1,484,000	$	55,000	$	-	$	1,539,000
BioArchive		298,000		359,000		-		657,000
CAR-TXpress		35,000		40,000		71,000		146,000
Manual Disposables		207,000		-		-		207,000
Other		17,000		-		6,000		23,000
Total	$	2,041,000	$	454,000	$	77,000	$	2,572,000

	Three Months Ended March 31, 2022
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	1,711,000	$	55,000	$	-	$	1,766,000
BioArchive		155,000		298,000		-		453,000
CAR-TXpress		199,000		43,000		71,000		313,000
Manual Disposables		105,000		-		-		105,000
Other		17,000		-		9,000		26,000
Total	$	2,187,000	$	396,000	$	80,000	$	2,663,000

Contract Balances

Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not have any material contract assets. When invoicing occurs prior to revenue recognition, a contract liability is recorded (as deferred revenue on the consolidated balance sheet). Revenues that were included in the beginning balance of deferred revenue at March 31, 2023 and December 31, 2022 were $362,000 and $719,000, respectively. Short-term deferred revenues were $729,000 and $782,000 at March 31, 2023 and December 31, 2022, respectively. Long-term deferred revenues were $835,000 and $911,000 at March 31, 2023 and December 31, 2022, respectively.

Backlog of Remaining Customer Performance Obligations

The following table represents revenue expected to be recognized in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period:

	Remainder of 2023		2024		2025		2026		2027 and beyond		Total
Service revenue	$	961,000	$	659,000	$	244,000	$	-	$	-	$	1,864,000
Device revenue (1)		712,000		41,000		-		-		-		753,000
Exclusivity fee		214,000		286,000		286,000		190,000		-		976,000
Other		10,000		13,000		13,000		13,000		104,000		153,000
Total	$	1,897,000	$	999,000	$	543,000	$	203,000	$	104,000	$	3,746,000

(1) Represents the minimum purchase requirements under the distribution agreement the Company signed with its AXP distributor in China.