Quarterly report pursuant to Section 13 or 15(d)

REVENUE RECOGNITION (Tables)

v3.21.2
REVENUE RECOGNITION (Tables)
9 Months Ended
Sep. 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 nine-months ended September 30, 2020 and 2021:

    Three Months Ended
September 30
    Nine Months Ended
September 30,
 
    2020     2021     2020     2021  
                         
Products   $ 10,914     $ 10,785     $ 33,516     $ 37,671  
Services     16,688       18,461       50,650       54,114  
                                 
    $ 27,602     $ 29,246     $ 84,166     $ 91,785  
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 September 30, 2021:

    December 31, 2020     September 30, 2021  
          (unaudited)  
             
Assets:                
Deferred contract costs   $ 2,157     $ 2,567  
Deferred costs   $ 5,361     $ 2,472  
                 
Liabilities:                
Deferred revenue- services (1)   $ 6,578     $ 8,455  
Deferred revenue - products (1)     6,767       3,147  
                 
      13,345       11,602  
Less: Deferred revenue and contract liabilities - current portion     (7,339 )     (6,274 )
                 
Deferred revenue and contract liabilities - less current portion   $ 6,006     $ 5,328  

 

(1) The Company records deferred revenues when cash payments are received or due in advance of the Company’s performance. For the three- and nine-month periods ended September 30, 2020 and 2021, the Company recognized revenue of $2,381 and $6,981, respectively, and $2,547 and $7,767, 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.