Apple could bring blood glucose, blood pressure, and blood alcohol monitoring to the Apple Watch using technology from Rockley Photonics.
In a recent SEC filing, Rockley revealed that Apple was its largest customer. The deal accounted for most of its revenue in 2019 and 2020. Rockley has a master supply and developer agreement with Apple; however, there are no minimum purchase requirements for Apple.
Rockley believes that its operating results for the foreseeable future will continue to depend to a significant extent on revenue attributable to a few large customers, including Apple Inc., Rockley’s largest customer. Rockley’s two largest customers collectively accounted for 100% and 99.6% of Rockley’s revenue in 2020 and 2019, respectively. Revenue attributable to Rockley’s largest customer accounted for the majority of its revenue in 2020 and 2019, respectively. Rockley anticipates revenue attributable to this customer will fluctuate from period to period ...
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