Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.10.0.1
Revenue Recognition (Tables)
9 Months Ended
Sep. 30, 2018
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,

 

 

 

2018

 

 

2017

 

Undelivered elements (training and product and support

    services; installation for 2017)

 

$

558

 

 

$

980

 

Extended warranty contracts

 

 

1,694

 

 

 

1,634

 

Deferred royalties

 

 

14

 

 

 

22

 

Total deferred revenue

 

 

2,266

 

 

 

2,636

 

Less long-term amounts:

 

 

 

 

 

 

 

 

Deferred royalties

 

 

3

 

 

 

11

 

Total deferred revenue - long-term

 

 

3

 

 

 

11

 

Total deferred revenue - current

 

$

2,263

 

 

$

2,625

 

 

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

 

 

Nine Months Ended

 

 

September 30,

 

 

September 30,

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

United States

$

6,953

 

 

$

6,804

 

 

$

19,810

 

 

$

21,840

 

International

 

3,983

 

 

 

4,002

 

 

 

13,300

 

 

 

12,452

 

 

$

10,936

 

 

$

10,806

 

 

$

33,110

 

 

$

34,292

 

 

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, 2018

 

September 30, 2018

Revenue recognized over time

 

$                             1,594

 

$                                 4,848

Revenue recognized at a point in time

 

9,342

 

28,262

Total

 

$                            10,936

 

$                                33,110

 

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

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

End-customer

 

$

7,387

 

 

$

7,422

 

 

$

21,093

 

 

$

23,218

 

Distributors

 

 

3,549

 

 

 

3,384

 

 

 

12,017

 

 

 

11,074

 

 

 

$

10,936

 

 

$

10,806

 

 

$

33,110

 

 

$

34,292

 

 

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:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Waterlase (laser systems)

 

 

45.4

%

 

 

37.8

%

 

 

41.3

%

 

 

40.1

%

Diodes (laser systems)

 

 

19.1

%

 

 

20.8

%

 

 

21.2

%

 

 

21.2

%

Imaging systems

 

 

3.5

%

 

 

10.2

%

 

 

4.0

%

 

 

7.8

%

Consumables and other

 

 

17.4

%

 

 

16.2

%

 

 

18.9

%

 

 

16.0

%

Services

 

 

14.6

%

 

 

14.7

%

 

 

14.6

%

 

 

14.6

%

License fees and royalties

 

 

%

 

 

0.3

%

 

 

%

 

 

0.3

%

 

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%