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Revenue
9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue

5. Revenue

The following table presents Company’s revenues disaggregated by geography (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

Service revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

14,200

 

 

$

8,290

 

 

$

32,307

 

 

$

25,452

 

 

Europe

 

 

9,187

 

 

 

8,065

 

 

 

20,503

 

 

 

18,515

 

 

Total service revenue

 

 

23,387

 

 

 

16,355

 

 

 

52,810

 

 

 

43,967

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

217

 

 

$

210

 

 

$

647

 

 

$

654

 

 

Europe

 

 

195

 

 

 

173

 

 

 

482

 

 

 

404

 

 

Total lease revenue

 

 

412

 

 

 

383

 

 

 

1,129

 

 

 

1,058

 

 

Total Revenue

 

$

23,799

 

 

$

16,738

 

 

$

53,939

 

 

$

45,025

 

 

 

Contract Balances

Contract assets include amounts related to the Company’s contractual right to consideration for completed performance obligations not yet invoiced. The contract assets are reclassified to receivables when the rights become unconditional. The Company’s contract assets as of September 30, 2023 and December 31, 2022 in the amount of $0.6 million and $0.6 million, respectively, are included in prepaid expenses and other current assets on the consolidated balance sheets. The contract assets are typically invoiced within a month of recognition. The Company's contract assets as of January 1, 2023 and 2022 amounted to $0.6 million and $0.7 million, respectively.

Contract liabilities are recorded as deferred revenues and include payments received in advance of performance under the contract. Contract liabilities are realized when services are provided to the customer. Contract liabilities as of September 30, 2023 and December 31, 2022 in the amount of $0.9 million and $0.7 million, respectively, are reported as a component of current liabilities on the consolidated balance sheets. All opening amounts of the December 31, 2022 and 2021 contract liabilities were recognized during the periods ended September 30, 2023 and December 31, 2022, respectively. The Company's contract liabilities as of January 1, 2023 and 2022 amounted to $0.7 million and $0.3 million, respectively.