Revenue

9 Months Ended

Sep. 30, 2021

Revenue [Abstract]

Revenue

2. Revenue

We account for revenue in accordance with ASC Topic 606: Revenue from Contracts with Customers.

Disaggregation of revenue

The following tables disaggregate our revenue by market type, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.  Sales and usage-based taxes are excluded from revenues.

	Three Months Ended
	September 30,
	2021						2020
	(In thousands)
	United States		International		Total		United States		International		Total
Food service technology	$	3,065	$	217	$	3,282	$	2,081	$	268	$	2,349
POS automation		1,188		–		1,188		739		3		742
Casino and gaming		2,656		1,380		4,036		1,552		457		2,009
Printrex		–		160		160		5		102		107
TransAct Services Group		1,856		115		1,971		1,910		183		2,093
Total net sales	$	8,765	$	1,872	$	10,637	$	6,287	$	1,013	$	7,300

	Nine Months Ended
	September 30,
	2021						2020
	(In thousands)
	United States		International		Total		United States		International		Total
Food service technology	$	8,616	$	487	$	9,103	$	4,376	$	548	$	4,924
POS automation		3,600		8		3,608		2,774		7		2,781
Casino and gaming		7,058		3,310		10,368		5,080		3,220		8,300
Lottery		–		–		–		817		–		817
Printrex		52		379		431		72		160		232
TransAct Services Group		4,388		365		4,753		5,184		594		5,778
Total net sales	$	23,714	$	4,549	$	28,263	$	18,303	$	4,529	$	22,832

Contract balances

Contract assets consist of unbilled receivables.  Pursuant to the over-time revenue recognition model, revenue may be recognized prior to the customer being invoiced.  An unbilled receivable is recorded to reflect revenue that is recognized when such revenue exceeds the amount invoiced to the customer. Unbilled receivables are separated into current and non-current assets and included within “Accounts receivable” and “Other non-current assets” in the Condensed Consolidated Balance Sheets.

Contract liabilities consist of customer pre-payments and deferred revenue.  Customer prepayments are reported as “Accrued liabilities” in current liabilities in the Condensed Consolidated Balance Sheets and represent customer payments made in advance of performance obligations in instances where credit has not been extended and are recognized as revenue when the performance obligation is complete.  Deferred revenue is reported separately in current liabilities and non-current liabilities and consists of our extended warranty contracts, technical support for our food service technology terminals, EPICENTRAL® maintenance contracts and prepaid software subscriptions for our BOHA! software applications, and is recognized as revenue as (or when) we perform under the contract.  For the nine months ended September 30, 2021, we recognized revenue of $0.6 million related to our contract liabilities at December 31, 2020. Total net contract (liabilities) assets consisted of the following:

	September 30, 2021			December 31, 2020
	(In thousands)
Unbilled receivables, current	$	306		$	290
Unbilled receivables, non-current		376			591
Customer pre-payments		(49	)		(216	)
Deferred revenue, current		(768	)		(504	)
Deferred revenue, non-current		(207	)		(111	)
Total net contract (liabilities) assets	$	(342	)	$	50

Remaining performance obligations

Remaining performance obligations represent the transaction price of firm orders for which a good or service has not been delivered to our customer.  As of September 30, 2021, the aggregate amount of transaction prices allocated to remaining performance obligations was $4.6 million.  The Company expects to recognize revenue on $4.1 million of its remaining performance obligations within the next 12 months following September 30, 2021, $0.4 million within the next 24 months and the balance of these remaining performance obligations recognized within the next 36 months.