Revenue from Contracts with Customers

9 Months Ended

Oct. 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 October 31,				Nine Months Ended October 31,
	2020		2019		2020		2019
Revenue recognized at a point in time:	(in thousands)
Seamap	$	5,196	$	5,694	$	11,066	$	14,648
Klein	1,150		2,380		3,152		5,778
SAP	—		—		—		101
Total revenue recognized at a point in time	$	6,346	$	8,074	$	14,218	$	20,527
Revenue recognized over time:
Seamap	$	195	$	238	$	596	$	512
Total revenue recognized over time	195		238		596		512
Total revenue from contracts with customers	$	6,541	$	8,312	$	14,814	$	21,039

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 October 31,				Nine Months Ended October 31,
	2020		2019		2020		2019
	(in thousands)
United States	$	282	$	1,453	$	2,068	$	3,293
Europe, Russia & CIS	2,001		3,769		4,981		8,936
Middle East & Africa	757		810		1,054		1,359
Asia-Pacific	3,342		1,308		5,841		4,417
Canada & Latin America	159		972		870		3,034
Total revenue from contracts with customers	$	6,541	$	8,312	$	14,814	$	21,039

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

	October 31, 2020		January 31, 2020
Contract Assets:	(in thousands)
Unbilled revenue - current	$	7	$	13
Total unbilled revenue	$	7	$	13
Contract Liabilities:
Deferred revenue & customer deposits - current	$	304	$	220
Deferred revenue & customer deposits - non-current	—		12
Total deferred revenue & customer deposits	$	304	$	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 ASU 2014-09, Revenue from Contracts with Customers, 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.