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 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):

 

 

 

September 30,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Undelivered elements (training, installation, product
   and support services)

 

$

1,015

 

 

$

670

 

Extended warranty contracts

 

 

1,557

 

 

 

1,609

 

Total deferred revenue

 

 

2,572

 

 

 

2,279

 

Less: long-term portion of deferred revenue

 

 

(294

)

 

 

(374

)

Deferred revenue — current

 

$

2,278

 

 

$

1,905

 

Summary of Disaggregation of Revenues Related to Geographic Areas

The Company’s revenues related to the following geographic areas were as follows (in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

United States

 

$

5,939

 

 

$

4,755

 

 

$

17,024

 

 

$

10,079

 

International

 

 

3,592

 

 

 

1,784

 

 

 

9,756

 

 

 

4,181

 

Total net revenue

 

$

9,531

 

 

$

6,539

 

 

$

26,780

 

 

$

14,260

 

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

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Revenue recognized over time

 

$

1,116

 

 

$

898

 

 

$

3,269

 

 

$

3,143

 

Revenue recognized at a point in time

 

 

8,415

 

 

 

5,641

 

 

 

23,511

 

 

 

11,117

 

Net revenue

 

$

9,531

 

 

$

6,539

 

 

$

26,780

 

 

$

14,260

 

Summary of Sales by End Market

The Company’s sales by end market were as follows (in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

End-customer

 

$

5,939

 

 

$

5,087

 

 

$

17,024

 

 

$

9,845

 

Distributors

 

 

3,592

 

 

 

1,452

 

 

 

9,756

 

 

 

4,415

 

Net revenue

 

$

9,531

 

 

$

6,539

 

 

$

26,780

 

 

$

14,260