Annual report pursuant to Section 13 and 15(d)

Accounts Receivable

v3.22.1
Accounts Receivable
12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Accounts Receivable

NOTE 5 — Accounts Receivable

The following table presents the components of the Company’s receivables as of December 31, 2021 and 2020:

 

 

 

December 31,

2021

 

 

December 31,

2020

 

Trade receivables

 

$

11,735

 

 

$

4,217

 

Allowance for doubtful accounts

 

 

(932

)

 

 

(65

)

Accounts receivable, net

 

 

10,803

 

 

 

4,152

 

Vendor non-trade receivables

 

 

2,255

 

 

 

453

 

Total accounts receivable

 

$

13,058

 

 

$

4,605

 

 

The Company has non-trade receivables from a manufacturing vendor resulting from the sale of components to this vendor who manufactures and assembles final products for the Company.

The Company analyzes the need for reserves for potential credit losses and records allowances for doubtful accounts when necessary. The Company had allowances for such losses totaling approximately $932 and $65 as of December 31, 2021 and 2020, respectively. The entire amount of the allowance at December 31, 2021, was for a distributor who is not a 10% customer.

Trade receivables from one customer approximated 70% of total accounts receivable at December 31, 2021, and receivables from two customers approximated 26% and 10% of total trade receivables at December 31, 2020.