Note 11 - Revenue and Geographic Information

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

11. Revenue and Geographic Information

Revenue by product family was as follows: 

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
OA Pain Management	$	25,741	$	24,321	$	48,474	$	43,637
Joint Preservation and Restoration		12,095		11,884		24,234		24,103
Non-Orthopedics		1,821		1,940		3,642		4,697
	$	39,657	$	38,145	$	76,350	$	72,437

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 45% and 46% for the three months ended June 30, 2022 and 2021, respectively, and 42% and 44% for the six months ended June 30, 2022 and 2021, respectively

The Company receives 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 $0.3 million and $1.0 million as of June 30, 2022 and December 31, 2021, respectively.

Total revenue by geographic location was as follows:

	Three Months Ended June 30,
	2022					2021
	Total		Percentage of			Total		Percentage of
	Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	29,686		75	%	$	30,069		79	%
Europe		5,292		13	%		5,089		13	%
Other		4,679		12	%		2,987		8	%
Total	$	39,657		100	%	$	38,145		100	%

	Six Months Ended June 30,
	2022					2021
	Total		Percentage of			Total		Percentage of
	Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	56,459		73	%	$	55,074		76	%
Europe		11,088		15	%		10,570		15	%
Other		8,803		12	%		6,793		9	%
Total	$	76,350		100	%	$	72,437		100	%