Annual report pursuant to Section 13 and 15(d)

CONCENTRATIONS

v3.22.1
CONCENTRATIONS
12 Months Ended
Dec. 31, 2021
CONCENTRATIONS [Abstract]  
CONCENTRATIONS

16.

CONCENTRATIONS

 

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and accounts receivable. At December 31, 2021, three customers accounted for approximately 94% of the Company’s consolidated accounts receivable. At December 31, 2020, three customers accounted for approximately 92% of the Company’s consolidated accounts receivable.

 

For the year ended December 31, 2021, four customers accounted for approximately 81% of the Company’s consolidated revenues. For the year ended December 31, 2020, three customers represented an aggregate of 82% of the Company’s consolidated revenues.

 

The Company purchases substantially all of its raw material plasma from Grifols. For the year ended December 31, 2021, plasma purchases from Grifols were approximately $42.0 million, or 69% of the Company’s total inventory purchases. For the year ended December 31, 2020, plasma purchases from Grifols were approximately $25.0 million, or 68% of the Company’s total inventory purchases.



Net revenues according to geographic area, based on the location of where the product is shipped, is as follows:

   
Year Ended December 31,
 
   
2021
   
2020
 
United States
 
$
70,625,848
   
$
36,552,244
 
International
   
10,316,777
     
5,667,539
 
Total revenues
 
$
80,942,625
   
$
42,219,783