REVENUE RECOGNITION

12 Months Ended

Dec. 31, 2023

REVENUE RECOGNITION

REVENUE RECOGNITION

2.  REVENUE RECOGNITION

Disaggregated Revenue

The following table presents the disaggregation of our revenue for the years ended December 31, 2023, and 2022 (in thousands):

	Years Ended December 31,
	2023		2022
Fixed fee license revenue	$	5,283	$	11,953
Per-unit royalty revenue	28,498		26,225
Total royalty and license revenue	33,781		38,178
Development, services, and other revenue	138		283
Total revenues	$	33,919	$	38,461

Contract Assets

As of December 31, 2023, 2022 and 2021, we had contract assets of $7.7 million, $7.7 million and $12.4 million included within Prepaid expenses and other current assets, respectively. As of December 31, 2023, 2022 and 2021, $0.1 million and $0.5 million and $1.7 million included within Other assets on the Consolidated Balance Sheets, respectively.

Total contract assets decreased by $0.7 million from January 1, 2023 to December 31, 2023, primarily due to actual royalties billed during the year. Contract assets decreased by $5.9 million from January 1, 2022 to December 31, 2022, primarily due to actual royalties billed and the reduction in contact assets balance following our settlement agreement with Marquardt GmbH.

Deferred Revenue

Based on contracts signed and payments received as of December 31, 2023, we expect to recognize $12.6 million in revenue related to Performance Obligation B under our fixed fee license agreements, which are satisfied over time, including $9.6 million over one to three years and $3.0 million over more than three years.

As of December 31, 2022, total deferred revenue was $17.4 million, of which $4.8 million was recognized during the year ended December 31, 2023.

As December 31, 2021, total deferred revenue was $21.5 million, of which $4.9 million was recognized during 2022.  In 2022, we recorded a $0.8 million increase in deferred revenue as a result of a new contract with a customer.