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

June 30, 2019,

deferred revenue was

$50

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

68%

and

70%

of total Company revenues for the

three

- and

six

-month periods ended

June 30, 2019,

respectively. The Company has agreements with other customers that

may

include the delivery of a license and supply of product.

Product revenue by product group was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Orthobiologics	$	26,462	$	26,192	$	48,210	$	45,681
Surgical		2,101		1,263		3,493		2,509
Dermal		444		623		573		83
Other		1,406		2,464		2,854		3,527
Product Revenue	$	30,413	$	30,542	$	55,130	$	51,800

Total revenue by geographic location was as follows:

	Three Months Ended June 30,
	2019					2018
	Total Revenue		Percentage of Revenue			Total Revenue		Percentage of Revenue
Geographic Location:
United States	$	22,937		76	%	$	24,773		81	%
Europe		4,927		16	%		3,498		11	%
Other		2,554		8	%		2,277		8	%
Total Revenue	$	30,418		100	%	$	30,548		100	%

	Six Months Ended June 30,
	2019					2018
	Total Revenue		Percentage of Revenue			Total Revenue		Percentage of Revenue
Geographic Location:
United States	$	43,026		78	%	$	41,682		81	%
Europe		7,454		14	%		5,889		11	%
Other		4,661		8	%		4,241		8	%
Total Revenue	$	55,141		100	%	$	51,812		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

June 30, 2018

were immaterial. The revenue reserves impacted Dermal and Orthobiologics product groups and all geographic locations. Recall recovery activities were completed during the

fourth

quarter of

2018,

and product shipments resumed in

December 2018.