Note 8 - Revenue

3 Months Ended

Mar. 31, 2024

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:

	2024		2023
United States	$	2,064,000	$	1,372,000
Singapore		56,000		404,000
Other		617,000		796,000
Total	$	2,737,000	$	2,572,000

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

	Three Months Ended March 31, 2024
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	1,900,000	$	64,000	$	-	$	1,964,000
BioArchive		188,000		334,000		-		522,000
CAR-TXpress		20,000		26,000		100,000		146,000
Other		20,000		-		85,000		105,000
Total	$	2,128,000	$	424,000	$	185,000	$	2,737,000

	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
Other		224,000		-		6,000		230,000
Total	$	2,041,000	$	454,000	$	77,000	$	2,572,000

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). The Company recognized revenues of $365,000 and $362,000 that were included in the beginning balance of deferred revenue for the three months ended March 31, 2024 and 2023, respectively. Short-term deferred revenues were $921,000 and $670,000 at March 31, 2024 and December 31, 2023, respectively. Long-term deferred revenues were $122,000 and $127,000 at March 31, 2024 and December 31, 2023, 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 2024		2025		2026		2027		2028 and beyond		Total
Service revenue	$	1,060,000	$	544,000	$	125,000	$	-	$	-	$	1,729,000
Exclusivity fee		167,000		-		-		-		-		167,000
Other		10,000		13,000		13,000		13,000		80,000		129,000
Total	$	1,237,000	$	557,000	$	138,000	$	13,000	$	80,000	$	2,025,000