Contract assets are included within prepaid expenses and other current assets in the condensed consolidated balance sheets. Contract assets relate to contracts with customers for which one or more performance obligations have been completed and revenue has been recognized, but the customer's payment is contingent on the satisfaction of additional performance obligations. The opening and closing balances of the Company's contract assets are as follows (in thousands):


	September 30, 2023		December 31, 2022
Contract assets	$	1,868	$	—

The Company's current and non-current contract liabilities are $13.8 million and $3.5 million, respectively, as of September 30, 2023. The Company's current and non-current contract liabilities were $12.0 million and $3.0 million, respectively, as of December 31, 2022. The non-current contract liabilities balance is included in other long-term liabilities on the condensed consolidated balance sheets. Contract liabilities relates to contracts with customers for which partial or complete payment of the transaction price has been received from the customer and the related obligations must be completed before revenue can be recognized. These amounts primarily relate to undelivered equipment, services, or maintenance agreements. The Company recognized $5.9 million and $17.0 million of revenue from its contract liabilities during the three and nine months ended September 30, 2023, respectively, of which $2.4 million and $9.3 million was recognized from the opening contract liabilities balance, respectively. The Company recognized $6.4 million and $16.5 million of revenue from its contract liabilities during the three and nine months ended September 30, 2022, respectively, of which $3.4 million and $10.3 million was recognized from the opening contract liabilities balance, respectively. The opening and closing balances of the Company’s contract liabilities are as follows (in thousands):


Balance at December 31, 2022	$	15,003
Payments received		19,367
Revenue recognized		(16,998	)
Foreign currency fluctuation		(67	)
Balance at September 30, 2023	$	17,305