Revenue

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Disaggregation of Revenue

The Company disaggregates revenue from contracts with customers by geographic region, as the Company’s management believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

The following tables present revenue disaggregated by geography of the customer’s shipping location for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
United States	$	11,426	$	2,033	$	26,676	$	5,910
Greater China	10,911		7,591		31,163		17,800
Europe	5,368		711		13,022		1,523
Rest of North America	1,109		1,286		3,440		2,513
Rest of Asia Pacific	881		127		2,442		701
South America	321		409		1,027		1,004
Total revenue	$	30,016	$	12,157	$	77,770	$	29,451

Contract Balances

Certain assets or liabilities are recorded depending on the timing of revenue recognition, billings and cash collections on a contract-by-contract basis. Contract liabilities primarily relate to deferred revenue, including advance consideration received from customers for contracts prior to the transfer of control to the customer, and therefore revenue is recognized upon delivery of products and services or as the services are performed. The Company recorded unbilled revenue of $1,851 and $402 as of September 30, 2022 and December 31, 2021, respectively, as part of its Prepaid expenses and other current assets in the accompanying condensed consolidated balance sheets.

The following table presents the liabilities associated with the engineering services contracts as of September 30, 2022 and December 31, 2021:

	September 30, 2022		December 31, 2021
Deferred revenue	$	1,627	$	1,840

As of September 30, 2022 and December 31, 2021, contract liabilities were included as Deferred revenue and classified as current liabilities in the condensed consolidated balance sheets.

During the three months ended September 30, 2022 and 2021, the Company recognized $139 and $206, respectively, of revenue related to amounts that were previously included in deferred revenue at the beginning of the period. During the nine months ended September 30, 2022 and 2021, the Company recognized $1,103 and $819, respectively, of revenue related to amounts that were previously included in deferred revenue at the beginning of the period. Deferred revenue fluctuates over time due to changes in the timing of payments received from customers and revenue recognized for services provided.

Revenue related to remaining performance obligations represents the amount of contracted development arrangements that has not been recognized, which includes deferred revenue on the condensed consolidated balance sheet and unbilled amounts that will be recognized as revenue in future periods. As of September 30, 2022, the amount of performance obligations that have not been recognized as revenue was $39,885, of which approximately 63% is expected to be recognized as revenue over the next twelve months and the remainder thereafter. This amount excludes the value of remaining performance obligations for contracts with an original expected length of one year or less. Variable consideration that has been constrained is excluded from the amount of performance obligations that have not been recognized.

Concentrations

As identified below, some of our customers accounted for more than 10% of the Company’s total revenue for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Customer A	36.7	%	25.7	%	37.3	%	39.3	%
Customer B	—	%	12.9	%	—	%	5.4	%

The loss of these customers would have a material impact on the Company’s condensed consolidated financial results.

The largest customer represented 27% of accounts receivable as of September 30, 2022 and the one largest customer represented 31% of accounts receivable as of December 31, 2021. No other individual customer represented more than 10% of accounts receivable at either September 30, 2022 or December 31, 2021.