Note 10 - Revenue

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

10. Revenue

Revenue by product family was as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Joint Pain Management	$	24,321	$	22,247	$	43,637	$	47,730
Joint Preservation and Restoration		11,884		6,622		24,103		14,518
Other		1,940		1,809		4,697		3,827
	$	38,145	$	30,678	$	72,437	$	66,075

Revenue from the Company’s sole significant customer, DePuy Synthes Mitek Sports Medicine (“Mitek”), part of the Johnson & Johnson Medical Companies, as a percentage of the Company’s total revenue was 46% and 54% for the three months ended June 30, 2021 and 2020, respectively, and 44% and 54% for the six months ended June 30, 2021 and 2020, respectively

We receive payments from our customers based on billing schedules established in each contract. Up-front payments 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 June 30, 2021 and December 31, 2020, respectively.

Total revenue by geographic location was as follows:

	Three Months Ended June 30,
	2021					2020
	Total		Percentage of			Total		Percentage of
	Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	30,069		79	%	$	25,133		82	%
Europe		5,089		13	%		2,910		9	%
Other		2,987		8	%		2,635		9	%
Total	$	38,145		100	%	$	30,678		100	%

	Six Months Ended June 30,
	2021					2020
	Total		Percentage of			Total		Percentage of
	Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	55,074		76	%	$	51,438		78	%
Europe		10,570		15	%		8,186		12	%
Other		6,793		9	%		6,451		10	%
Total	$	72,437		100	%	$	66,075		100	%