Revenues

12 Months Ended

Dec. 31, 2019

Revenues [Abstract]

Revenues

Note 12 – Revenues

	For the year ended December 31
	2017		2018		2019
	Thousands USD		Thousands USD		Thousands USD
Consumables		185		190		650
Support services (*)		-		400		598
Sales of printers (*)		276		4,320		5,770
Total		461		4,910		7,018
Printers rental		368		190		52
Total revenue		829		5,100		7,070

(*) The Company's identified separated distinct performance obligations that include: Printer, maintenance, training and installation. The Company allocates the transaction price to the identified performance obligations based on the residual approach, while allocating the estimated standalone selling prices for performance obligations relating to maintenance, training and installation services, and the residual is allocated to the printer.

Revenues allocated to the printers and ink are recognized when the control is passed at a point in time. Maintenance revenue is recognized ratably, on a straight-line basis, over the period of the services. Revenue from training and installation is recognized during the time of performance.

Revenues per geographical locations: 

	For the year ended December 31,
	2017		2018		2019
	Thousands USD		Thousands USD		Thousands USD
USA		481		2,727		3,367
Asia Pacific		156		1,239		1,591
Europe and Israel(*)		192		1,134		2,112
Total revenue		829		5,100		7,070

 (*) The Company combined all consumables revenues into the Europe and Israel geography, due to immateriality of the amounts.

Timing of revenue recognition:

	For the year ended December 31,
	2017		2018		2019
	Thousands USD		Thousands USD		Thousands USD
Goods and services transferred over time		368		590		650
Goods transferred at a point in time		461		4,510		6,420
Total revenue		829		5,100		7,070

The table below provides information regarding receivables, contract assets and contract liabilities deriving from contracts with customers.

	December 31,
	2018		2019
	Thousands USD		Thousands USD
Open balances		1,233		1,816
Income receivables		80		-
Contract liabilities		355		991

The contract liabilities primarily relate to the advance consideration received from customers for contracts giving yearly maintenance for the printer. The revenue is recognized in a straight line basis over the contracts' period.

Contract costs

Management expects that commissions paid to agents for obtaining contracts are recoverable. The Group applies the expedient included in IFRS 15.94 and recognizes incremental costs for obtaining the contract as an expense as incurred, where the amortization period of the asset it would have otherwise recognized is one year or less.