Concentrations

3 Months Ended

Mar. 31, 2023

Risks and Uncertainties [Abstract]

Concentrations

NOTE 12—CONCENTRATIONS

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

	Three Months Ended
	March 31,
	2023				2022
Laser systems	$	6,265	59.8	%	$	6,335	62.3	%
Consumables and other		3,033	29.0	%		2,710	26.7	%
Services		1,169	11.2	%		1,121	11.0	%
Total net revenue	$	10,467	100.0	%	$	10,166	100.0	%

No individual customer represented more than 10% of the Company’s revenue for the three months ended March 31, 2023 or 2022.

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 as of March 31, 2023 and December 31, 2022.

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.