Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.21.1
Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Disaggregated by Revenue Source

The following table presents the Company’s revenues disaggregated by revenue source for the three-months ended March 31, 2020 and 2021:

 

    Three Months Ended March 31,  
    2020     2021  
             
Products   $ 13,208     $ 11,420  
Services     17,591       17,571  
                 
    $ 30,799     $ 28,991  

Schedule of Deferred Revenue

The balances of contract assets, and contract liabilities from contracts with customers are as follows as of December 31, 2020 and March 31, 2021.

 

    December 31, 2020     March 31, 2021  
          (unaudited)  
             
Assets:                
Deferred contract costs   $ 2,157     $ 2,214  
Deferred costs   $ 5,361     $ 4,637  
                 
Liabilities:                
Deferred revenue- services (1)   $ 6,578     $ 8,065  
Deferred revenue - products (1)     6,767       5,845  
                 
      13,345       13,910  
Less: Deferred revenue and contract liabilities - current portion     (7,339 )     (8,356 )
                 
Deferred revenue and contract liabilities - less current portion   $ 6,006     $ 5,554  

 

(1) The Company records deferred revenues when cash payments are received or due in advance of the Company’s performance. For the three-month periods ended March 31, 2020 and 2021, the Company recognized revenue of $2,174 and $2,718, 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 2026, when the services are performed and, therefore, satisfies its performance obligation to the customers.