Annual report pursuant to Section 13 and 15(d)

Revenue Recognition (Tables)

v3.20.1
Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Disaggregated by Revenue Sources

The following table presents the Company’s revenues disaggregated by revenue source for the years ended December 31, 2017, 2018 and 2019.

 

    Year Ended December 31,  
    2017     2018     2019  
                   
Products   $ 23,552     $ 36,897     $ 45,416  
Services     17,406       16,167       36,499  
                         
    $ 40,958     $ 53,064     $ 81,915  

Schedule of Deferred Revenue

The balances of contract assets, and contract liabilities from contracts with customers are as follows as of December 31, 2018 and 2019 are as follows:

 

    December 31,  
    2018     2019  
             
Assets:                
Deferred sales commissions to employees   $ 585     $ 2,196  
Deferred costs   $ 9,069     $ 8,530  
                 
Liabilities:                
Contract liabilities (1)   $ -     $ 1,098  
Deferred revenue -other (1)     305       227  
Deferred maintenance and SaaS revenue (1)     4,607       5,072  
Deferred logistics visibility solutions product revenue (1)     12,176       10,932  
                 
      17,088       17,329  
Less: Deferred revenue and contract liabilities - Current portion     7,902       (8,536 )
                 
Deferred revenue and contract liabilities - less current portion   $ 9,186     $ 8,793  

 

(1) The Company record deferred revenues when cash payments are received or due in advance of the Company’s performance. For the years ended December 31, 2018 and 2019, the Company recognized revenue of $11,813 and $12,082, respectively, that was included in the deferred revenue balance at the beginning of each reporting period. The Company expects to recognize as revenue before year 2024, when it transfers those goods and services and, therefore, satisfies its performance obligation to the customers.