Note 10 - Revenue

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

10. Revenue

Revenue by product family was as follows: 

	Three Months Ended March 31,
	2021		2020
Joint Pain Management	$	19,316	$	25,483
Joint Preservation and Restoration		12,219		7,896
Other		2,757		2,018
	$	34,292	$	35,397

Revenue from the Company’s sole significant customer, DePuy Synthes Mitek Sports Medicine, part of the Johnson & Johnson Medical Companies (Mitek), as a percentage of the Company’s total revenue was 41% and 54% for the three months ended March 31, 2021 and 2020, respectively.

We receive payments from our 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 we perform our obligations under these arrangements. Amounts are recorded as accounts receivable when our right to consideration is unconditional. Deferred revenue was $0.9 million and $0.2 million as of March 31, 2021 and December 31, 2020, respectively.

Revenue by geographic location was as follows:

	Three Months Ended March 31,
	2021					2020
			Percentage of					Percentage of
	Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	25,005		73	%	$	26,306		74	%
Europe		5,480		16	%		5,276		15	%
Other		3,807		11	%		3,815		11	%
Total	$	34,292		100	%	$	35,397		100	%