Revenue Recognition

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

The Company’s principal sales are from Wireless services, sales of Telco equipment and Telco recycled equipment, primarily in the United States. Sales to international customers totaled approximately $1.1 million and $1.7 million for the three months ended September 30, 2022 and 2021, respectively, and $4.6 million and $4.3 million for the nine months ended September 30, 2022 and 2021, respectively.

The Company’s customers include wireless carriers, wireless equipment providers, multiple system operators, resellers and direct sales to end-user customers. Sales, which individually amounted to 10% or greater of the Company's revenue, to two customers totaled 30%, and to one customer totaled 20% of consolidated revenues for the nine months ended September 30, 2022 and 2021, respectively.

Our sales by type were as follows, in thousands:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Wireless services sales	$	7,898	$	6,992	$	22,907	$	15,462
Telco equipment	18,028		12,272		54,363		33,287
Telco repair	—		13		12		21
Telco recycle	—		450		192		641
Total sales	$	25,926	$	19,727	$	77,474	$	49,411

Contract assets and contract liabilities are included in unbilled revenue and deferred revenue, respectively, in the consolidated balance sheets. At September 30, 2022 and December 31, 2021, contract assets were $2.6 million and $2.2 million, respectively, and contract liabilities were $0.3 million and $0.2 million, respectively. The Company recognized $0.2 million of contract revenue during the nine months ended September 30, 2022 related to contract liabilities recorded in deferred revenue at December 31, 2021.