Note 13 - Revenue and Geographic Information

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

13. Revenue and Geographic Information

The following table summarizes the Company’s disaggregated revenues:

	Years Ended December 31,
	2021		2020		2019
Product revenue	$	147,794	$	130,457	$	114,512
Licensing, milestone and contract revenue		-		-		98
Total revenue	$	147,794	$	130,457	$	114,610

The Company categorizes its product portfolio into three product families: OA Pain Management, Joint Preservation and Restoration, and Non-Orthopedic. Anika’s consolidated financial statements include results of operations for Parcus Medical from the January 24, 2020 acquisition date and Arthrosurface from the February 3, 2020 acquisition date.

Product revenue by product family is as follows:

	Years Ended December 31,
	2021					2020					2019
	Revenue		Percentage of Product Revenue			Revenue		Percentage of Product Revenue			Revenue		Percentage of Product Revenue
OA Pain Management	$	89,503		61	%	$	83,029		64	%	$	103,466		90	%
Joint Preservation and Restoration		48,588		33	%		39,368		30	%		2,070		2	%
Non-Orthopedic		9,703		6	%		8,060		6	%		8,976		8	%
Total	$	147,794		100	%	$	130,457		100	%	$	114,512		100	%

Product revenue from the Company’s sole significant customer, Mitek, as a percentage of the Company’s total product revenue was 45%, 49%, and 71% for the years ended December 31, 2021, 2020, and 2019, respectively.

Total revenue by geographic location based on the location of the customer in total and as a percentage of total revenue are as follows:

	Years Ended December 31,
	2021					2020					2019
	Total		Percentage of			Total		Percentage of			Total		Percentage of
	Revenue		Revenue			Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	113,833		77	%	$	103,182		79	%	$	90,302		79	%
Europe		19,580		13	%		14,179		11	%		14,744		13	%
Other		14,381		10	%		13,096		10	%		9,564		8	%
Total	$	147,794		100	%	$	130,457		100	%	$	114,610		100	%

Net long-lived assets, consisting primarily of net property and equipment, are subject to geographic risks because they are generally difficult to move and to effectively utilize in another geographic area in a reasonable time period and because they are relatively illiquid. Net tangible long-lived assets by principal geographic areas are as follows:

	Years Ended December 31,
	2021		2020
United States	$	46,068	$	48,611
Italy		1,534		2,002
Total	$	47,602	$	50,613