Note 8 - Revenue

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

8. Revenue

The following table presents net sales by geographic areas:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
United States	$	1,500,000	$	1,535,000	$	4,589,000	$	4,973,000
China		29,000		364,000		77,000		1,570,000
United Arab Emirates		259,000		--		439,000		--
Other		406,000		216,000		1,934,000		1,264,000
Total	$	2,194,000	$	2,115,000	$	7,039,000	$	7,807,000

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

	Three Months Ended September 30, 2023
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	1,486,000	$	88,000	$	--	$	1,574,000
BioArchive		131,000		322,000		--		453,000
CAR-TXpress		42,000		34,000		71,000		147,000
Manual Disposables		8,000		--		--		8,000
Other		6,000		--		6,000		12,000
Total	$	1,673,000	$	444,000	$	77,000	$	2,194,000

	Nine Months Ended September 30, 2023
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	4,245,000	$	184,000	$	--	$	4,429,000
BioArchive		879,000		1,020,000		--		1,899,000
CAR-TXpress		101,000		109,000		213,000		423,000
Manual Disposables		229,000		--		--		229,000
Other		41,000		--		18,000		59,000
Total	$	5,495,000	$	1,313,000	$	231,000	$	7,039,000

	Three Months Ended September 30, 2022
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	1,034,000	$	75,000	$	--	$	1,109,000
BioArchive		201,000		321,000		--		522,000
CAR-TXpress		190,000		44,000		72,000		306,000
Manual Disposables		150,000		--		--		150,000
Other		20,000		--		8,000		28,000
Total	$	1,595,000	$	440,000	$	80,000	$	2,115,000

	Nine Months Ended September 30, 2022
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	4,668,000	$	171,000	$	--	$	4,839,000
BioArchive		694,000		924,000		--		1,618,000
CAR-TXpress		551,000		146,000		214,000		911,000
Manual Disposables		357,000		--		--		357,000
Other		59,000		--		23,000		82,000
Total	$	6,329,000	$	1,241,000	$	237,000	$	7,807,000

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 during the three and nine months ended September 30, 2023 were $144,000 and $663,000, respectively. Short-term deferred revenues were $818,000 and $782,000 at September 30, 2023 and December 31, 2022, respectively. Long-term deferred revenues were $680,000 and $911,000 at September 30, 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	$	319,000	$	741,000	$	252,000	$	--	$	--	$	1,312,000
Device revenue (1)		21,000		692,000		--		--		--		713,000
Exclusivity fee		71,000		286,000		286,000		190,000		--		833,000
Other		3,000		13,000		13,000		13,000		97,000		139,000
Total	$	414,000	$	1,732,000	$	551,000	$	203,000	$	97,000	$	2,997,000

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