Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.20.2
Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2020
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 three- and six-months ended June 30, 2019 and 2020:

 

    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2019     2020     2019     2020  
Products   $ 10,643     $ 9,394     $ 17,892     $ 22,602  
Services     5,631       16,371       11,993       33,962  
    $ 16,274     $ 25,765     $ 29,885     $ 56,564  
Schedule of Deferred Revenue

The balances of contract assets, and contract liabilities from contracts with customers are as follows as of December 31, 2019 and June 30, 2020:

 

    December 31, 2019     June 30, 2020  
              (Unaudited)  
                 
Assets:                
Deferred contract costs   $ 2,196     $ 1,735  
Deferred logistics visibility solutions costs   $ 8,530     $ 6,905  
                 
Liabilities:                
Contract liabilities (1)   $ 1,098     $ 794  
Deferred revenue -other (1)     227       281  
Deferred maintenance and SaaS revenue (1)     5,072       5,540  
Deferred logistics visibility solutions product revenue (1)     10,932       8,749  
                 
      17,329       15,364  
Less: Deferred revenue and contract liabilities - Current portion     (8,536 )     (8,608 )
                 
Deferred revenue and contract liabilities - less current portion   $ 8,793     $ 6,756  

 

(1) The Company records deferred revenues when cash payments are received or due in advance of the Company’s performance. For the three- and six-month periods ended June 30, 2019 and 2020, the Company recognized revenue of $6,891 and $2,426, respectively, and $6,238 and $4,600, respectively, that was included in the deferred revenue balance at the beginning of each reporting period. The Company expects to recognize as revenue these deferred revenue balances before the year 2025, when the services are performed and, therefore, satisfies its performance obligation to the customers.