Note 10 - Revenue and Geographic Information

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

10. Revenue and Geographic Information

Revenue by product family is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
OA Pain Management	$	29,334	$	24,093	$	51,967	$	45,058
Joint Preservation and Restoration		12,660		12,095		26,113		24,234
Non-Orthopedic		2,308		3,469		4,146		7,058
	$	44,302	$	39,657	$	82,226	$	76,350

Effective January 1, 2023, the Company beganto report revenue from product sales to veterinary customers within the Non-Orthopedic product family whereas such revenue had been previously reported within the OA Pain Management product family. Revenue from product sales to veterinary customers amounted to $1.1 million and $1.6 million for the three months ended June 30, 2023 and 2022, respectively, and $1.6 million and $3.4 million for the six months ended June 30, 2023 and 2022, respectively, and are included within the Non-Orthopedic product family for all periods presented. Accordingly, revenue from product sales to veterinary customers in the prior period have been reclassified to conform to the current period presentation.

Revenue from the Company’s sole significant customer, DePuy Synthes Mitek Sports Medicine, part of the Johnson & Johnson Medical Companies, as a percentage of the Company’s total revenue was 48% and 45% for the three months ended June 30, 2023 and 2022, respectively, and 46% and 42% for the six months ended June 30, 2023 and 2022, respectively.

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

	Three Months Ended June 30,
	2023					2022
			Percentage of					Percentage of
	Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	32,867		74	%	$	29,686		75	%
Europe		5,675		13	%		5,292		13	%
Other		5,760		13	%		4,679		12	%
Total	$	44,302		100	%	$	39,657		100	%

	Six Months Ended June 30,
	2023					2022
			Percentage of					Percentage of
	Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	60,155		73	%	$	56,459		73	%
Europe		11,337		14	%		11,088		15	%
Other		10,734		13	%		8,803		12	%
Total	$	82,226		100	%	$	76,350		100	%