Annual report pursuant to Section 13 and 15(d)

Revenue Recognition (Tables)

v3.20.4
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 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 years ended December 31, 2018, 2019 and 2020.

 

    Year Ended December 31,  
    2018     2019     2020  
                   
Products   $ 36,897     $ 45,416     $ 45,651  
Services     16,167       36,499       67,942  
                         
    $ 53,064     $ 81,915     $ 113,593  
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 2020 are as follows:

 

    Year Ended December 31,  
    2019     2020  
             
Assets:                
Deferred contract costs   $ 2,196     $ 2,157  
Deferred costs   $ 8,530     $ 5,361  
                 
Liabilities:                
Deferred revenue- services (1)   $ 6,397     $ 6,578  
Deferred revenue - products (1)     10,932       6,767  
                 
      17,329       13,345  
Less: Deferred revenue and contract liabilities - current portion     (8,536 )     (7,339 )
                 
Deferred revenue and contract liabilities - less current portion   $ 8,793     $ 6,006  

 

(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, 2019 and 2020, the Company recognized revenue of $12,082 and $10,242, 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 2025, when it transfers those goods and services and, therefore, satisfies its performance obligation to the customers.