Revenue Recognition

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Contract Balances

The Company records deferred revenue when cash payments are received, or payment is due, in advance of its fulfillment of performance obligations. During the three months ended June 30, 2020 and 2019, there were revenues of $1,821 and $1,901 recognized, respectively, that were included in the deferred revenue balance at the beginning of the period. During the six months ended June 30, 2020 and 2019, there were revenues of $3,649 and $4,145 recognized, respectively.

Assets Recognized from the Costs to Obtain a Contract with a Customer

The Company recognizes an asset for the incremental costs to obtain a contract with a customer, where the stated contract term, with expected renewals, is longer than one year. The Company amortizes these assets over the expected period of benefit. These costs are generally employee sales commissions, with amortization of the balance recorded in selling, general and administrative expenses. The value of these assets was $1,231 at June 30, 2020 and $1,455 at December 31, 2019. During the three months ended June 30, 2020 and 2019, the Company recorded amortization of $226 and $198, respectively. During the six months ended June 30, 2020 and 2019, the Company recorded amortization of $469 and $368, respectively.

Performance Obligations

As of June 30, 2020, the Company has allocated a total transaction price of $5,958 to unfulfilled performance obligations that are expected to be fulfilled within nine years. Excluded from this amount are contracts of less than one year and variable consideration that relates to the value of services provided.