Revenue

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

REVENUE

NOTE 18:- REVENUE

Remaining performance obligations represent contract revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. The aggregate amount of consideration allocated to performance obligations either not satisfied or partially unsatisfied was approximately $182 million as of December 31, 2021. The Company expects to recognize approximately 79% in 2022 from remaining performance obligations as of December 31, 2021, and the remainder thereafter. Remaining performance obligations include the remaining non-cancelable, committed and fixed portion of these contracts for their entire duration; the remaining performance obligations related to professional services contracts that are on a T&M basis were excluded, as the Company elected to apply the practical expedients in accordance with ASC 606.

Disaggregation of revenue:

The following table provides information about disaggregated revenue by type of contract, and timing of revenue recognition (in thousands):

	Years ended December 31,
	2020		2021
Project implementation phase:
Revenues from pre-production implementation projects	$	142,247	$	178,419
Revenues from post-production implementation projects		240,656		282,616
Total	$	382,903	$	461,035

Contract balances:

The following table provides information about trade receivables, unbilled receivables, contract assets and contract liabilities (deferred revenues) from contracts with customers (in thousands):

	December 31,
	2020		2021
Trade receivables (net of allowance for credit losses of $1,558 and $1,337 on December 31, 2020 and 2021, respectively)		48,623		53,985
Short-term unbilled receivables *)		9,301		16,072
Long-term unbilled receivables *)		772		858
Contract assets **)		7,485		6,988
Deferred revenues (short-term contract liabilities)		34,548		39,614
Long-term deferred revenues (long-term contract liabilities) ***)		524		299

*) Unbilled receivables relate to revenue recognized in excess of amounts invoiced as the Company has an unconditional right to invoice and receive payment in the future related to its fulfilled obligations.

**) Contract assets relate to unbilled receivables (including a long-term balance of $784 presented in other long-term assets as of December 31, 2021), which represent revenue recognized on arrangements for which billings have not yet been presented to customers because the amounts were earned but not contractually billable as of the balance sheet date, and the right to consideration is generally subject to milestone completion, client acceptance or factors other than the passage of time.

***) Included in other long-term liabilities in the consolidated balance sheets.

No impairment loss was recognized in respect of the Company’s outstanding contract assets during the years ended December 31, 2020 and 2021.

During the year ended December 31, 2021, the Company recognized $33,030 that was included in deferred revenues (short-term contract liability) balance on December 31, 2020.