Quarterly report pursuant to Section 13 or 15(d)

REVENUE RECOGNITION (Tables)

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REVENUE RECOGNITION (Tables)
6 Months Ended
Jun. 30, 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- and six-months ended June 30, 2020 and 2021:

 

    Three Months Ended June 30     Six Months Ended June 30,  
    2020     2021     2020     2021  
                         
Products   $ 9,394     $ 15,466     $ 22,602     $ 26,886  
Services     16,371       18,082       33,962       35,653  
                                 
    $ 25,765     $ 33,548     $ 56,564     $ 62,539  
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 June 30, 2021:

 

    December 31, 2020     June 30, 2021  
          (unaudited)  
             
Assets:                
Deferred contract costs   $ 2,157     $ 2,325  
Deferred costs   $ 5,361     $ 3,963  
                 
Liabilities:                
Deferred revenue- services (1)   $ 6,578     $ 8,525  
Deferred revenue - products (1)     6,767       4,944  
                 
      13,345       13,469  
Less: Deferred revenue and contract liabilities - current portion     (7,339 )     (8,048 )
                 
Deferred revenue and contract liabilities - less current portion   $ 6,006     $ 5,421  

 

(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, 2020 and 2021, the Company recognized revenue of $2,426 and $4,600, respectively, and $2,502 and $5,220, 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 2026, when the services are performed and, therefore, satisfies its performance obligation to the customers.