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Summary Accounting Policies and Recent Accounting Pronouncements (Tables)
3 Months Ended
Mar. 31, 2023
Accounting Policies [Abstract]  
Summary of Balances of Contract Liabilities

The Company recognizes a contract liability when a customer pays for goods or services for which the Company has not yet transferred control. The balances of the Company’s contract liabilities are as follows:

 

 

March 31,

 

 

December 31,

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Extended service contracts

 

$

319

 

 

$

336

 

Subscription software licenses

 

 

403

 

 

 

481

 

Total contract liabilities

 

 

722

 

 

 

817

 

Less: long-term portion

 

 

140

 

 

 

 

Contract liabilities – current

 

$

582

 

 

$

817

 

Schedule of Revenues Disaggregated by Segment and Timing of Goods and Services Transferred

The following table provides information regarding revenues disaggregated by segment and the timing of when goods and services are transferred:

 

Three Months Ended March 31,

 

 

 

2023

 

 

2022

 

 

(in thousands)

 

Product revenue recognized at a point in time

 

$

8,524

 

 

$

7,027

 

Product revenue recognized over time

 

 

154

 

 

 

176

 

Software revenue recognized at a point in time

 

 

449

 

 

 

219

 

Software revenue recognized over time

 

 

1,597

 

 

 

1,611

 

Total

 

$

10,724

 

 

$

9,033

 

No individual customer accounted for more than 10% of sales for the three months ended March 31, 2023 and 2022.

Schedule of Reconciliation of Change in Estimated Warranty Liabilities

The following table provides a reconciliation of the change in estimated warranty liabilities for the three months ended March 31, 2023 and 2022:

 

Three Months Ended March 31,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Balance at beginning of period

 

$

1,930

 

 

$

1,620

 

Provision for warranties issued

 

 

195

 

 

 

310

 

Warranty costs incurred

 

 

(368

)

 

 

(315

)

Balance at end of period

 

$

1,757

 

 

$

1,615

 

Current portion

 

$

1,335

 

 

$

1,153

 

Non-current portion

 

 

422

 

 

 

462

 

Total

 

$

1,757

 

 

$

1,615