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Revenue (Tables)
12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Assets

Contract assets were recorded in the Consolidated Balance Sheets as follows (in thousands):

 

 

 

December 31, 2022

 

 

December 31,
2021

 

Unbilled contracts receivable

 

$

73,754

 

 

$

26,715

 

Other current assets

 

 

512

 

 

 

426

 

Long-term unbilled contracts receivable

 

 

40,705

 

 

 

282

 

Other long-term assets

 

 

1,144

 

 

 

1,267

 

Total contract assets

 

$

116,115

 

 

$

28,690

 

 

Schedule of Revenue Recognized in Period

The following table presents additional revenue and contract disclosures (in thousands):

 

 

 

Years Ended December 31,

 

 

 

 

2022

 

 

2021

 

 

2020

 

 

Revenue recognized in the period from:

 

 

 

 

 

 

 

 

 

 

Amounts included in deferred revenue at the beginning of the period

 

$

5,509

 

 

$

4,476

 

 

$

904

 

 

Performance obligations satisfied in previous periods (1)

 

$

12,976

 

(2)

$

33,885

 

(3)

$

282,893

 

 (4)

(1) Performance obligations satisfied in previous periods consist of settlements of litigation during the period for past royalties owed pursuant to expired or terminated IP license agreements.

(2) Includes past royalty revenue from the execution of long-term license agreements with a leading consumer electronics and OTT service provider and two social media companies. The long-term license agreements were effective as of the expiration of the prior agreements. The Company recorded revenue from both the settlement and the license agreements, referred to above, in the second and fourth quarter of 2022 and expects to record revenue from the prospective license in future periods.

(3) Includes past royalty revenue from the execution of multiple long-term license agreements. The Company recorded revenue from both the settlement and the license agreements during 2021 and continues to record revenue from the prospective license.

(4) Includes past royalty revenue from the execution of a license agreement with a pay-TV provider. On November 9, 2020, the Company entered into a patent license agreement, which was effective as of the expiration of the customer's prior agreement in 2016 and its term expires in 2031. In connection with the agreement, the Company recorded revenue from past royalties in the fourth quarter of 2020 and expects to record revenue from the prospective license into 2031.

Schedule of Remaining Performance Obligations

 

 

Amounts

 

Revenue from contracts with performance obligations expected to be satisfied in:

 

 

 

2023

 

$

157,160

 

2024

 

 

146,095

 

2025

 

 

141,295

 

2026

 

 

42,481

 

2027

 

 

32,908

 

Thereafter

 

 

59,527

 

Total

 

$

579,466