XML 24 R13.htm IDEA: XBRL DOCUMENT v3.20.2
Revenue
9 Months Ended
Sep. 30, 2020
Revenue  
Revenue

Note 4.    Revenue

The following table summarizes the Company's revenues disaggregated by revenue source, geography (based on the Company's business locations), and timing of revenue recognition (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

    

September 30, 2020

    

September 30, 2019

    

September 30, 2020

    

September 30, 2019

    

Geographic Markets

 

​

  

 

​

  

 

​

  

 

​

  

 

Malaysia

​

$

33

​

$

—

​

$

42

​

$

—

​

USA

​

 

480

​

 

250

​

 

908

​

 

41,650

​

China

​

 

10,107

​

 

2,854

​

 

14,740

​

 

2,854

​

Total

​

$

10,620

​

$

3,104

​

$

15,690

​

$

44,504

​

Product or Service

​

 

  

​

 

  

​

 

  

​

 

  

​

Digital asset management services

​

$

—

​

$

—

​

$

—

​

$

40,700

​

Digital advertising services and other

​

 

480

​

​

250

​

 

908

​

​

950

​

Electric vehicles*

​

​

8,872

​

​

2,854

​

​

9,622

​

​

2,854

​

Combustion engine vehicles*

​

 

1,268

​

 

—

​

 

5,160

​

 

—

​

Total

​

$

10,620

​

$

3,104

​

$

15,690

​

$

44,504

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Timing of Revenue Recognition

​

​

​

​

​

​

​

​

​

​

​

​

​

Products transferred at a point in time

​

$

10,620

​

$

3,104

​

$

15,690

​

$

3,804

​

Services provided over time

​

​

—

​

​

—

​

​

—

​

​

40,700

​

Total

​

$

10,620

​

$

3,104

​

$

15,690

​

$

44,504

​

*   The revenues for the three and the nine months ended September 30, 2020 were recorded on either a Principal or Agency basis, depending on the terms of the underlying transaction, including the ability to control the product and the level of inventory risk taken.The combustion engine vehicles for the three and the nine months ended September 30, 2020 were recorded on a Principal basis because the Company has inventory risk in the transaction.

​

In the three months ended September 30, 2020 the balance of deferred revenue increased primarily due to two factors: 1)  the Company sold vehicles with a service warranty, and allocated a portion of the transaction price to this performance obligation and will recognize this revenue over the service period, and 2) the Company was engaged to perform advertising services pursuant to one significant contract, and such services were partially fulfilled in the three months ended September 30, 2020 and the remainder will be fulfilled in the future.

​

In the three months ended September 30, 2020 the Company sold vehicles whose contractual terms contained a provision which gave rise to variable consideration.  The Company has estimated the variable consideration, and will continue to revise this estimate in the future.  The liability associated with this estimate is recorded as “Other long-term liabilities.”