Revenue from Contracts with Customers

6 Months Ended

Jul. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Revenue from Contracts with CustomersThe following table presents revenue from contracts with customers disaggregated by product line and timing of revenue recognition:

	Three Months Ended July 31,				Six Months Ended July 31,
	2020		2019		2020		2019
Revenue recognized at a point in time:	(in thousands)
Seamap	$	3,881	$	4,911	$	5,870	$	8,954
Klein	1,004		1,841		2,002		3,398
SAP	—		—		—		101
Total revenue recognized at a point in time	$	4,885	$	6,752	$	7,872	$	12,453
Revenue recognized over time:
Seamap	$	201	$	68	$	401	$	274
Total revenue recognized over time	201		68		401		274
Total revenue from contracts with customers	$	5,086	$	6,820	$	8,273	$	12,727

The revenue from products manufactured and sold by our Seamap and Klein businesses, as well as the revenue from products marketed and sold by our SAP business, is generally recognized at a point in time, or when the customer takes possession of the product, based on the terms and conditions stipulated in our contracts with customers. Our Seamap business also provides Software Maintenance Agreements (“SMA”) to customers who have an active license for software embedded in Seamap products. The revenue from SMA’s is recognized over time, with the total value of the SMA amortized in equal monthly amounts over the life of the contract, which is typically twelve months. The Company sold SAP during the first quarter of fiscal 2020. See Note 14 to our condensed consolidated financial statements for more information.

The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers:

	Three Months Ended July 31,				Six Months Ended July 31,
	2020		2019		2020		2019
	(in thousands)
United States	$	686	$	1,084	$	1,786	$	1,841
Europe, Russia & CIS	1,604		2,563		2,980		5,167
Middle East & Africa	221		358		297		549
Asia-Pacific	2,222		1,910		2,499		3,108
Canada & Latin America	353		905		711		2,062
Total revenue from contracts with customers	$	5,086	$	6,820	$	8,273	$	12,727

As of July 31, 2020, and January 31, 2020, contract assets and liabilities consisted of the following:

	July 31, 2020		January 31, 2020
Contract Assets:	(in thousands)
Unbilled revenue - current	$	4	$	13
Total unbilled revenue	$	4	$	13
Contract Liabilities:
Deferred revenue & customer deposits - current	$	318	$	220
Deferred revenue & customer deposits - non-current	—		12
Total deferred revenue & customer deposits	$	318	$	232

Considering the products manufactured and sold by the businesses in our Marine Technology Products segment and the Company’s standard contract terms and conditions, we expect our contract assets and liabilities to turn over, on average, within a period of three to six months.

Pursuant to practical expedients and exemptions included in the New Revenue Standard, sales and transaction-based taxes are excluded from revenue. Also, we do not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Additionally, we expense costs incurred to obtain contracts when incurred because the amortization period would have been one year or less. These costs are recorded in selling, general and administrative expenses.