Note 10 - Revenue and Geographic Information

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
OA Pain Management	$	24,888	$	24,476	$	76,855	$	69,533
Joint Preservation and Restoration		13,470		11,821		39,583		36,055
Non-Orthopedic		3,107		3,967		7,253		11,026
	$	41,465	$	40,264	$	123,691	$	116,614

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 $1.6 million and $1.2 million for the three months ended September 30, 2023 and 2022, respectively, and $3.2 million and $4.6 million for the nine months ended September 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 44% and 45% for the three months ended September 30, 2023 and 2022, respectively, and 45% and 43% for the nine months ended September 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 September 30,
	2023					2022
			Percentage of					Percentage of
	Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	30,831		74	%	$	31,093		77	%
Europe		5,420		13	%		4,885		12	%
Other		5,214		13	%		4,286		11	%
Total	$	41,465		100	%	$	40,264		100	%

	Nine Months Ended September 30,
	2023					2022
			Percentage of					Percentage of
	Revenue		Revenue			Revenue		Revenue
Geographic Location:
United States	$	90,986		74	%	$	87,552		75	%
Europe		16,757		13	%		15,973		14	%
Other		15,948		13	%		13,089		11	%
Total	$	123,691		100	%	$	116,614		100	%