Revenue (Tables)

12 Months Ended

Dec. 31, 2019

The following tables present our revenues disaggregated by major products and services, geographical region and timing of revenue recognition.

Revenue by major products and services (in thousands)


		Twelve months ended December 31,
	2019		2018			2017*
Hardware products	$	127,005	$	105,560	$	105,867
Software licenses		57,168		47,417		41,390
Subscription		22,250		15,426		10,296
Professional services		5,759		5,743		4,891
Maintenance, support and other		42,388		38,134		30,847
Total Revenue	$	254,570	$	212,280	$	193,291

Revenue by location of customer for the years ended December 31, 2019, 2018, and 2017 (in thousands)

*Amounts for the year ended December 31, 2017 are presented under ASC 605 and ASC 985-605.

Timing of revenue recognition (in thousands)


	Year ended December 31,
	2019		2018
Products and Licenses transferred at a point in time	$	184,173	$	152,977
Services transferred over time		70,397		59,303
Total Revenue	$	254,570	$	212,280


		December 31,
	2019		2018
Receivables, inclusive of trade and unbilled	$	62,405	$	59,631
Contract Assets (current and non-current)	$	10,623	$	11,278
Contract Liabilities (Deferred Revenue current and non-current)	$	45,597	$	44,305


in thousands	2020		2021		2022		Beyond 2022		Total
Future revenue related to current unsatisfied performance obligations	$	11,295	$	7,682	$	5,951	$	10,986	$	35,914



in thousands		December 31, 2019		December 31, 2018
Capitalized costs to obtain contracts, current	$	676	$	413
Capitalized costs to obtain contracts, non-current	$	3,222	$	2,150


		Year ended December 31,
in thousands		2019		2018
Amortization of capitalized costs to obtain contracts	$	495	$	283
Impairments of capitalized costs to obtain contracts	$	-	$	-


	December 31, 2018
	As Reported		Adjustments		Balances without the adoption of Topic 606
ASSETS
Current assets
Accounts receivable, net of allowance	$	59,631	$	(331)	$	59,300
Contract asset		7,962		(7,962)		—
Other current assets		5,705		(703)		5,002
Total current assets		191,956		(8,996)		182,960
Deferred income taxes		5,601		587		6,188
Contract asset - non-current		3,316		(3,316)		—
Other assets		8,400		(289)		8,111
Total assets	$	352,826	$	(12,014)	$	340,812
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Deferred revenue	$	33,633	$	3,019	$	36,652
Short-term income taxes payable		6,905		(1,209)		5,696
Other accrued expenses		9,323		(116)		9,207
Total current liabilities		72,357		1,694		74,051
Deferred revenue - non-current		10,672		3,391		14,063
Deferred income taxes		2,661		(424)		2,237
Total liabilities		100,385		4,661		105,046
Stockholders' equity
Accumulated income		172,378		(16,675)		155,703
Total stockholders' equity		252,441		(16,675)		235,766
Total liabilities and stockholders' equity	$	352,826	$	(12,014)	$	340,812

Statement of Operations (in thousands)


	Year ended December 31, 2018
	As Reported		Adjustments		Balances without the adoption of Topic 606
Revenue
Product and license	$	152,977	$	2,365	$	155,342
Services and other		59,303		(5,772)		53,531
Total revenue		212,280		(3,407)		208,873

Cost of goods sold
Product and license		50,706		605		51,311
Services and other		14,107		—		14,107
Total Cost of goods sold		64,813		605		65,418

Gross profit		147,467		(4,012)		143,455

Operating Costs
Sales and marketing		63,805		1,108		64,913
Total operating costs		147,443		1,108		148,551

Operating income (loss)		24		(5,120)		(5,096)

Income (loss) before taxes		3,553		(5,120)		(1,567)

Provision (benefit) for income taxes		(293)		(365)		(658)

Net income (loss)	$	3,846	$	(4,755)	$	(909)

Basic EPS	$	0.10			$	(0.02)
Diluted EPS	$	0.10			$	(0.02)