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Revenue
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]    
Revenue Revenue
Disaggregation of Revenues
The Company disaggregates its revenue from contracts with customers by geographic region based on the primary locations where the customer is situated, type of good or service and timing of transfer of goods or services to customers (point-in-time or over time), as it believes it best depicts how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. Total revenue based on the disaggregation criteria described above are as follows (in thousands):
Three Months Ended March 31,
20212020
Revenue% of RevenueRevenue% of Revenue
Revenue by primary geographical market:
North America$2,539 48 %$1,085 28 %
Asia Pacific321 6 %8 — %
Europe and Middle East2,453 46 %2,779 72 %
Total$5,313 100 %$3,872 100 %
Revenue by timing of recognition:
Recognized at a point in time$2,053 39 %$608 16 %
Recognized over time3,260 61 %3,264 84 %
Total$5,313 100 %$3,872 100 %
Revenue by segment:
Autonomy Solutions$4,336 82 %$3,297 85 %
Component Sales977 18 %575 15 %
Total$5,313 100 %$3,872 100 %
Volvo Stock Purchase Warrant
In March 2020, the Company issued a stock purchase warrant to Volvo Car Technology Fund AB (“VCTF”) in connection with an engineering services contract. VCTF is entitled to purchase from the Company up to 4,089,280 shares of Class A common stock, at a price of $3.1769 per share. The warrants vest and become exercisable in two tranches based on satisfaction of certain commercial milestones. The fair value of warrants aggregating $2.9 million represent consideration payable to a customer and would be recognized as reduction in revenue consistent with the revenue recognition pattern when these warrants become probable of vesting. The Company’s management determined that the vesting of these warrants was not probable as of March 31, 2021.
Contract assets and liabilities
Contract assets primarily represent revenues recognized for performance obligations that have been satisfied but for which amounts have not been billed. The Company’s contract assets as of March 31, 2021 and December 31, 2020 were $1.2 million and $0, respectively. Contract liabilities consist of deferred revenue and customer advanced payments. Deferred revenue includes billings in excess of revenue recognized related to product sales and other services revenue and is recognized as revenue when the Company performs under the contract. Customer advanced payments represent required customer payments in advance of product shipments according to customer’s payment term. Customer advance payments are recognized as revenue when control of the performance obligation is transferred to the customer. The Company’s contract liabilities were $0.7 million and $2.3 million as of March 31, 2021 and December 31, 2020, respectively, and were included in accrued and other current liabilities in the condensed consolidated balance sheets.
The significant changes in contract liabilities balances consisted of the following (in thousands): 
 March 31, 2021December 31, 2020
Beginning balance$2,284 $225 
Revenue recognized that was included in the contract liabilities beginning balance(1,667)(225)
Increase due to cash received and not recognized as revenue and billings in excess of revenue recognized during the period37 2,284 
Ending balance$654 $2,284 
 Revenue
Disaggregation of Revenues
The Company disaggregates its revenue from contracts with customers by geographic region based on the primary locations where the customer is situated, type of good or service and timing of transfer of goods or services to customers (point-in-time or over time), as it believes it best depicts how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. Total revenue based on the disaggregation criteria described above are as follows (in thousands):
Year Ended December 31,
20202019
Revenue% of RevenueRevenue% of Revenue
Revenue by primary geographical market:
North America$4,010 29 %$10,453 83 %
Asia Pacific906 6 %469 4 %
Europe and Middle East9,035 65 %1,680 13 %
Total13,951 100 %12,602 100 %
Revenue by timing of recognition:
Recognized at a point in time2,639 19 %9,666 77 %
Recognized over time11,312 81 %2,936 23 %
Total13,951 100 %12,602 100 %
Revenue by segment:
Autonomy Solutions11,387 82 %9,666 77 %
Component Sales2,564 18 %2,936 23 %
Total13,951 100 %12,602 100 %
Volvo Stock Purchase Warrant
In March 2020, the Company issued a stock purchase warrant to Volvo Car Technology Fund AB (“VCTF”) in connection to the engineering services contract. VCTF is entitled to purchase from the Company up to 4,089,280 shares of Class A common stock, at a price of $3.1769 per share. The warrants vest and become exercisable in two tranches based on satisfaction of certain commercial milestones. The fair value of warrants aggregating $2.9 million represent consideration payable to a customer and would be recognized as reduction in revenue consistent with the revenue recognition pattern when these warrants become probable of vesting. The Company’s management determined that the vesting of these warrants was not probable as of December 31, 2020.
Contract assets and liabilities
Contract assets primarily represent revenues recognized for performance obligations that have been satisfied but for which amounts have not been billed. The Company’s contract assets as of December 31, 2020 were not material. The Company did not have any contract assets as of December 31, 2019. Contract liabilities consist of deferred revenue and customer advanced payments. Deferred revenue includes billings in excess of revenue recognized related to product sales and other services revenue and is recognized as revenue when the Company performs under the contract. Customer advanced payments represent required customer payments in advance of product shipments according to customer’s payment term. Customer advance payments are recognized as revenue when control of the performance obligation is transferred to the customer. The Company’s contract liabilities were $2.3 million and $0.2 million as of December 31, 2020 and 2019, respectively, and were included in accrued and other current liabilities in the consolidated balance sheets.
The significant changes in contract liabilities balances consisted of the following (in thousands): 
 December 31,
 20202019
Beginning balance$225 $— 
Revenue recognized that was included in the contract liabilities beginning balance(225)— 
Increase due to cash received and not recognized as revenue and billings in excess of revenue recognized during the period2,284 225 
Ending balance$2,284 $225