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Concentrations
9 Months Ended
Sep. 30, 2022
Risks and Uncertainties [Abstract]  
Concentrations

NOTE 13—CONCENTRATIONS

Revenue from the Company’s products are as follows (dollars in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Laser systems

 

$

7,302

 

 

 

60.8

%

 

$

6,084

 

 

 

63.8

%

 

$

21,626

 

 

 

62.9

%

 

$

16,588

 

 

 

61.9

%

Consumables and other

 

 

2,632

 

 

 

21.9

%

 

 

2,331

 

 

 

24.5

%

 

 

8,379

 

 

 

24.3

%

 

 

6,923

 

 

 

25.9

%

Services

 

 

2,076

 

 

 

17.3

%

 

 

1,116

 

 

 

11.7

%

 

 

4,406

 

 

 

12.8

%

 

 

3,269

 

 

 

12.2

%

Total net revenue

 

$

12,010

 

 

 

100.0

%

 

$

9,531

 

 

 

100.0

%

 

$

34,411

 

 

 

100.0

%

 

$

26,780

 

 

 

100.0

%

 

No individual customer represented more than 10% of the Company’s revenue for the three and nine months ended September 30, 2022 or 2021.

The Company maintains its cash and cash equivalents in money market investment accounts with established commercial banks. Such cash deposits periodically exceed the Federal Deposit Insurance Corporation insured limit.

No individual customer represented more than 10% of the Company’s accounts receivable at September 30, 2022 and December 31, 2021.

The Company currently purchases certain key components of its products from single suppliers. Although there are a limited number of manufacturers of these key components, management believes that other suppliers could provide similar key components on comparable terms. A change in suppliers, however, could cause delays in manufacturing and a possible loss of sales, which could adversely affect the Company’s business, results of operations and financial condition.