Revenue Recognition (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Revenue Recognition [Abstract] |
|
| Summary of Opening and Closing Balances of Contract Liabilities |
The opening and closing balances of the Company’s contract liabilities are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Undelivered elements (training and installation) |
|
$ |
407 |
|
|
$ |
449 |
|
Extended warranty contracts |
|
|
1,911 |
|
|
|
2,259 |
|
Total deferred revenue |
|
|
2,318 |
|
|
|
2,708 |
|
Less: long-term portion of deferred revenue |
|
|
(186 |
) |
|
|
(256 |
) |
Deferred revenue — current |
|
$ |
2,132 |
|
|
$ |
2,452 |
|
|
| 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 |
|
|
Six Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
United States |
|
$ |
8,240 |
|
|
$ |
10,741 |
|
|
$ |
14,930 |
|
|
$ |
17,499 |
|
International |
|
|
3,315 |
|
|
|
3,545 |
|
|
|
6,757 |
|
|
|
7,254 |
|
Net revenue |
|
$ |
11,555 |
|
|
$ |
14,286 |
|
|
$ |
21,687 |
|
|
$ |
24,753 |
|
|
| 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, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Revenue recognized over time |
|
$ |
1,713 |
|
|
$ |
1,415 |
|
|
$ |
3,201 |
|
|
$ |
2,584 |
|
Revenue recognized at a point in time |
|
|
9,842 |
|
|
|
12,871 |
|
|
|
18,486 |
|
|
|
22,169 |
|
Net revenue |
|
$ |
11,555 |
|
|
$ |
14,286 |
|
|
$ |
21,687 |
|
|
$ |
24,753 |
|
|
| Summary of Sales by End Market |
The Company’s sales by end market were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
End-customer |
|
$ |
8,240 |
|
|
$ |
10,741 |
|
|
$ |
14,930 |
|
|
$ |
17,499 |
|
Distributors |
|
|
3,315 |
|
|
|
3,545 |
|
|
|
6,757 |
|
|
|
7,254 |
|
Net revenue |
|
$ |
11,555 |
|
|
$ |
14,286 |
|
|
$ |
21,687 |
|
|
$ |
24,753 |
|
|