Revenue

The Company receives payments from its customers based on billing schedules established in each contract. Up-front payments and fees are recorded as deferred revenue upon receipt or when due, and

may

require deferral of revenue recognition to a future period until the Company performs its obligations under these arrangements. Amounts are recorded as accounts receivable when the Company’s right to consideration is unconditional. As of

March 31, 2019,

deferred revenue was

$67

thousand.

The Company has agreements with DePuy Synthes Mitek Sports Medicine, a division of DePuy Orthopaedics, Inc. (“Mitek”) that include the grant of certain licenses, performance of development services, and supply of product. Revenues from the agreements with Mitek represent

72%

and

76%

of total Company revenues for the

three

-month periods ended

March 31, 2019

and

March 31, 2018,

respectively. The Company has agreements with other customers that

may

include the delivery of a license and supply of product.

The following tables provide the disaggregated revenue by major product group and primary geographical market. Product revenue by product group was as follows:

	Three Months Ended March 31,
	2019		2018
Orthobiologics	$	21,748	$	19,489
Surgical		1,392		1,245
Dermal		129		(539	)
Other		1,448		1,063
Product Revenue	$	24,717	$	21,258

Total revenue by geographic location was as follows:

	Three Months Ended March 31,
	2019					2018
	Total Revenue		Percentage of Revenue			Total Revenue		Percentage of Revenue
Geographic Location:
United States	$	20,089		81	%	$	16,910		80	%
Europe		2,526		10	%		2,391		11	%
Other		2,108		9	%		1,963		9	%
Total Revenue	$	24,723		100	%	$	21,264		100	%

May 2, 2018,

the Company publicly disclosed a voluntary recall of certain lots of its HYAFF-based products, HYALOFAST, HYALOGRAFT C, and HYALOMATRIX. The Company initiated the recall after internal quality testing, which indicated that the products were at risk of

not

maintaining certain measures throughout their entire shelf life. While there was

indication of any safety or efficacy issue related to the products at the time, the Company removed the products from the field as a precautionary measure. During the

three

-month period ended

March 31, 2018,

the Company recorded a revenue reserve for this voluntary recall of

$1.1

million of which

$0.9

million was related to revenue recorded in prior periods. The adjustments related to the initial revenue reserve subsequent to

March 31, 2018

were immaterial. The revenue reserves impacted Dermal and Orthobiologics product groups and all geographic locations.