XML 20 R11.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Revenue Recognition
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Revenue
Sales of hardware and accessories, as well as revenue from coordination of freight services for our customers, is recognized at a point in time. Services include enhanced warranty, training revenue, as well as revenue from kindergarten and student care services, and are recognized over time. Revenue from software-as-a-service (SaaS) and revenue from future software upgrade rights are also recognized over time.
The following table presents the Company’s revenue disaggregated based on the revenue source and the timing of revenue recognition:
Six months ended June 30,
20242023
Revenue from hardware, proprietary embedded firmware and accessories$137,248 $215,224 
Revenue from services23,038 4,265 
Revenue from SaaS2,463 2,759 
Revenue from software upgrade rights3,234 249 
Total revenue$165,983 $222,497 
Contract liabilities
June 30, 2024December 31, 2023
Deferred revenue: enhanced warranties$21,349 $21,057 
Deferred revenue: other services15,812 14,815 
Total contract liabilities$37,161 $35,872 
The contract liabilities listed above represent deferred revenue associated with sales of enhanced warranties, services such as training revenue, SaaS, and future unspecified software upgrade rights, as well as deferred revenue associated with kindergarten and student care services. The deferred revenue amounts included as contract liabilities represent the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially satisfied). These performance obligations are expected to be satisfied as follows:
Enhanced warrantiesOther services
Remainder of 2024$1,683 $10,063 
20255,022 3,847 
20265,866 1,178 
20274,682 510 
20282,785 207 
Thereafter1,311 7 
Total contract liabilities$21,349 $15,812 
During the six months ended June 30, 2024 and 2023, the Company recognized $8,793 and $5,883, respectively, in revenue that was included in contract liabilities as of January 1, 2024 and 2023, respectively. The Company did not have any contract assets as of June 30, 2024 and December 31, 2023.