Note 8 - Revenue Recognition |
6 Months Ended |
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Jun. 30, 2025 | |
| Notes to Financial Statements | |
| Revenue from Contract with Customer [Text Block] |
(8) Revenue Recognition
Revenue from Product Sales
The Company’s revenue consists primarily of distribution of theranostics including sodium iodide I-131 drug product, calibration and reference standards manufactured for use in the nuclear medicine industry, and cobalt source manufacturing. With the exception of certain unique products, the Company’s normal operating cycle is considered to be one year. Due to the time required to produce some cobalt products, the Company’s operating cycle for those products is considered to be two to three years. Accordingly, preliminary payments received on cobalt contracts where shipment has not taken place have been recorded as unearned revenue on the Company’s condensed consolidated balance sheets and classified under current or long-term liabilities, depending upon estimated ship dates. For the six months ended June 30, 2025, the Company reported current unearned revenue of $568,816. For the period ended December 31, 2024, the Company reported current unearned revenue of $513,317. These unearned revenues will be recognized as revenue in the periods during which the cobalt shipments take place.
Contract Balances
The Company records a receivable when it has an unconditional right to receive consideration after the performance obligations are satisfied. As of June 30, 2025, and December 31, 2024, accounts receivable totaled $1,732,939 and $1,521,380, respectively. For the six months ended June 30, 2025, the Company did not incur material impairment losses with respect to its receivables.
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