Revenue Recognition (Tables)
|
6 Months Ended |
Jun. 30, 2020 |
|---|
| Revenue Recognition [Abstract] |
|
| Summary of Opening and Closing Balances of Contract Liabilities |
The Company performs its obligations under a contract with a customer by transferring products and/or services in exchange for consideration from the customer. The Company typically invoices its customers as soon as control of an asset is transferred and a receivable for the Company is established. The Company, however, recognizes a contract liability when a customer prepays for goods and/or services and the Company has not transferred control of the goods and/or services. The opening and closing balances of the Company’s contract liabilities are as follows (in thousands):
|
|
|
June 30,
|
|
|
December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
Undelivered elements (training, installation, product
and support services)
|
|
$
|
521
|
|
|
$
|
559
|
|
|
Extended warranty contracts
|
|
|
1,377
|
|
|
|
2,063
|
|
|
Total deferred revenue
|
|
|
1,898
|
|
|
|
2,622
|
|
|
Less long-term portion of deferred revenue
|
|
|
412
|
|
|
|
385
|
|
|
Total deferred revenue — long -term
|
|
|
412
|
|
|
|
385
|
|
|
Deferred revenue — current
|
|
$
|
1,486
|
|
|
$
|
2,237
|
|
|
| Summary of Disaggregation of Revenues Related to Geographic Areas |
The Company’s revenues related to the following geographic areas were as follows for the periods indicated (in thousands):
|
|
|
Three Months Ended
|
|
|
Six Months
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
United States
|
|
$
|
2,195
|
|
|
$
|
5,898
|
|
|
$
|
5,324
|
|
|
$
|
12,014
|
|
|
International
|
|
|
743
|
|
|
|
2,747
|
|
|
|
2,397
|
|
|
|
6,957
|
|
|
|
|
$
|
2,938
|
|
|
$
|
8,645
|
|
|
$
|
7,721
|
|
|
$
|
18,971
|
|
|
| Summary of Revenues Disaggregated by Timing of Goods and Services Transferred |
Information regarding revenues disaggregated by the timing of when goods and services are transferred is as follows (in thousands):
|
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
Revenue recognized over time
|
|
$
|
985
|
|
|
$
|
1,646
|
|
|
$
|
2,006
|
|
|
$
|
3,415
|
|
|
Revenue recognized at a point in time
|
|
|
1,953
|
|
|
|
6,999
|
|
|
|
5,715
|
|
|
|
15,556
|
|
|
Total
|
|
$
|
2,938
|
|
|
$
|
8,645
|
|
|
$
|
7,721
|
|
|
$
|
18,971
|
|
|
| Summary of Sales by End Market |
The Company’s sales by end market were as follows for the periods indicated (in thousands):
|
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
End-customer
|
|
$
|
2,402
|
|
|
$
|
5,553
|
|
|
$
|
5,741
|
|
|
$
|
11,254
|
|
|
Distributors
|
|
|
536
|
|
|
|
3,092
|
|
|
|
1,980
|
|
|
|
7,717
|
|
|
|
|
$
|
2,938
|
|
|
$
|
8,645
|
|
|
$
|
7,721
|
|
|
$
|
18,971
|
|
|
| Schedule of Revenue and Percentages of Revenue Sales by Product Line |
The revenue and percentages of revenue of the Company’s sales by product line were as follows for the periods indicated:
|
|
|
Three Months Ended
|
|
|
|
|
June 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
Laser systems
|
|
$
|
1,091
|
|
|
|
37.1
|
%
|
|
$
|
4,917
|
|
|
|
56.9
|
%
|
|
Imaging systems
|
|
|
—
|
|
|
|
—
|
%
|
|
|
63
|
|
|
|
0.7
|
%
|
|
Consumables and other
|
|
|
862
|
|
|
|
29.3
|
%
|
|
|
2,084
|
|
|
|
24.1
|
%
|
|
Services
|
|
|
985
|
|
|
|
33.6
|
%
|
|
|
1,578
|
|
|
|
18.3
|
%
|
|
License fees and royalties
|
|
|
—
|
|
|
|
—
|
%
|
|
|
3
|
|
|
|
—
|
%
|
|
Total revenue
|
|
$
|
2,938
|
|
|
|
100.0
|
%
|
|
$
|
8,645
|
|
|
|
100.0
|
%
|
Revenue from the Company’s products for the three and six months ended June 30, 2020 and 2019 are as follows (dollars in thousands):
|
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
Laser systems
|
|
$
|
1,091
|
|
|
|
37.1
|
%
|
|
$
|
4,917
|
|
|
|
56.9
|
%
|
|
$
|
3,142
|
|
|
40.7
|
%
|
|
$
|
10,880
|
|
|
57.4
|
%
|
|
Imaging systems
|
|
|
—
|
|
|
|
—
|
%
|
|
|
63
|
|
|
|
0.7
|
%
|
|
|
-
|
|
|
0.0
|
%
|
|
|
615
|
|
|
3.2
|
%
|
|
Consumables and other
|
|
|
862
|
|
|
|
29.3
|
%
|
|
|
2,084
|
|
|
|
24.1
|
%
|
|
|
2,334
|
|
|
30.2
|
%
|
|
|
4,196
|
|
|
22.1
|
%
|
|
Services
|
|
|
985
|
|
|
|
33.6
|
%
|
|
|
1,578
|
|
|
|
18.3
|
%
|
|
|
2,245
|
|
|
29.1
|
%
|
|
|
3,273
|
|
|
17.3
|
%
|
|
License fees and royalties
|
|
|
—
|
|
|
|
—
|
%
|
|
|
3
|
|
|
|
—
|
%
|
|
|
—
|
|
|
—
|
%
|
|
|
7
|
|
|
—
|
%
|
|
Total revenue
|
|
$
|
2,938
|
|
|
|
100.0
|
%
|
|
$
|
8,645
|
|
|
|
100.0
|
%
|
|
$
|
7,721
|
|
|
100.0
|
%
|
|
$
|
18,971
|
|
|
100.0
|
%
|
|