Revenue Recognition (Tables)
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9 Months Ended |
Sep. 30, 2019 |
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| Revenue Recognition [Abstract] |
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| 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):
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September 30,
|
|
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December 31,
|
|
|
|
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2019
|
|
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2018
|
|
|
Undelivered elements (training, installation, product and
support services)
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|
$
|
566
|
|
|
$
|
730
|
|
|
Extended warranty contracts
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|
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1,940
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|
|
|
1,735
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|
|
Deferred royalties
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|
|
6
|
|
|
|
11
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|
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Total deferred revenue
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|
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2,512
|
|
|
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2,476
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|
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Less long-term portion of deferred revenue
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|
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—
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|
|
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—
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|
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Deferred revenue — current
|
|
$
|
2,512
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|
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$
|
2,476
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|
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| 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):
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Three Months Ended
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Nine Months Ended
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|
|
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September 30,
|
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September 30,
|
|
|
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2019
|
|
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2018
|
|
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2019
|
|
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2018
|
|
|
United States
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|
$
|
4,949
|
|
|
$
|
6,953
|
|
|
$
|
16,962
|
|
|
$
|
19,810
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|
|
International
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3,697
|
|
|
|
3,983
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|
|
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10,655
|
|
|
|
13,300
|
|
|
|
|
$
|
8,646
|
|
|
$
|
10,936
|
|
|
$
|
27,617
|
|
|
$
|
33,110
|
|
|
| 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):
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|
|
Three Months Ended
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|
|
Nine Months Ended
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|
|
|
|
September 30,
|
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|
September 30,
|
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|
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2019
|
|
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2018
|
|
|
2019
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|
|
2018
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|
|
Revenue recognized over time
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|
$
|
1,997
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|
|
$
|
1,594
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|
|
$
|
5,267
|
|
|
$
|
4,848
|
|
|
Revenue recognized at a point in time
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|
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6,649
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9,342
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|
|
|
22,350
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|
|
|
28,262
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|
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Total
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|
$
|
8,646
|
|
|
$
|
10,936
|
|
|
$
|
27,617
|
|
|
$
|
33,110
|
|
|
| Summary of Sales by End Market |
The Company’s sales by end market were as follows for the periods indicated (in thousands):
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|
Three Months Ended
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|
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Nine Months Ended
|
|
|
|
|
September 30,
|
|
|
September 30,
|
|
|
|
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2019
|
|
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2018
|
|
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2019
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|
|
2018
|
|
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End-customer
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|
$
|
3,727
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|
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$
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7,387
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$
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11,068
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|
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$
|
21,093
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|
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Distributors
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|
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4,919
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|
|
|
3,549
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|
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|
16,549
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|
|
|
12,017
|
|
|
|
|
$
|
8,646
|
|
|
$
|
10,936
|
|
|
$
|
27,617
|
|
|
$
|
33,110
|
|
|
| Summary of Percentages of Sales by Product line |
The percentages of the Company’s sales by product line were as follows for the periods indicated:
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Three Months Ended
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Nine Months Ended
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|
|
|
|
|
September 30,
|
|
|
September 30,
|
|
|
|
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2019
|
|
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2018
|
|
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2019
|
|
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2018
|
|
|
|
Laser systems
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|
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59.8
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|
%
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|
64.5
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%
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58.1
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|
%
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|
62.5
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|
%
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|
Imaging systems
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—
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%
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3.5
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%
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2.2
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%
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4.0
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|
%
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|
Consumables and other
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|
17.1
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%
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|
17.4
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%
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|
20.6
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|
%
|
|
18.9
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|
%
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Services
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|
23.1
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|
%
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|
14.6
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%
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|
19.1
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|
%
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|
14.6
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|
%
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|
License fees and royalties
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|
|
—
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%
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|
—
|
|
%
|
|
—
|
|
%
|
|
—
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|
%
|
|
|
|
|
100.0
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%
|
|
100.0
|
|
%
|
|
100.0
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|
%
|
|
100.0
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|
%
|
Revenue from the Company’s products for the three and nine months ended September 30, 2019 and 2018 are as follows (dollars in thousands):
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Three Months Ended
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Nine Months Ended
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|
|
|
|
September 30,
|
|
|
September 30,
|
|
|
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|
2019
|
|
|
2018
|
|
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2019
|
|
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2018
|
|
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Laser systems
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|
$
|
5,167
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|
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|
59.8
|
%
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$
|
7,055
|
|
|
|
64.5
|
%
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|
$
|
16,047
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|
|
|
58.1
|
%
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|
$
|
20,678
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|
|
|
62.5
|
%
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|
Imaging systems
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|
4
|
|
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|
—
|
%
|
|
|
382
|
|
|
|
3.5
|
%
|
|
|
619
|
|
|
|
2.2
|
%
|
|
|
1,336
|
|
|
|
4.0
|
%
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|
Consumables and other
|
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|
1,478
|
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|
17.1
|
%
|
|
|
1,902
|
|
|
|
17.4
|
%
|
|
|
5,678
|
|
|
|
20.6
|
%
|
|
|
6,239
|
|
|
|
18.9
|
%
|
|
Services
|
|
|
1,994
|
|
|
|
23.1
|
%
|
|
|
1,594
|
|
|
|
14.6
|
%
|
|
|
5,264
|
|
|
|
19.1
|
%
|
|
|
4,848
|
|
|
|
14.6
|
%
|
|
License fees and royalties
|
|
|
3
|
|
|
|
—
|
%
|
|
|
3
|
|
|
|
—
|
%
|
|
|
9
|
|
|
|
—
|
%
|
|
|
9
|
|
|
|
—
|
%
|
|
Net revenue
|
|
$
|
8,646
|
|
|
|
100.0
|
%
|
|
$
|
10,936
|
|
|
|
100.0
|
%
|
|
$
|
27,617
|
|
|
|
100.0
|
%
|
|
$
|
33,110
|
|
|
|
100.0
|
%
|
|