Revenue

6 Months Ended

Jun. 30, 2022

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
	June 30,
	2022						2021
	(In thousands)
	United States		International		Total		United States		International		Total
Food service technology	$	3,281	$	151	$	3,432	$	2,987	$	87	$	3,074
POS automation		1,172		–		1,172		1,252		4		1,256
Casino and gaming		3,929		2,596		6,525		2,438		1,029		3,467
Printrex		–		–		–		25		87		112
TransAct Services Group		1,345		149		1,494		1,252		164		1,416
Total net sales	$	9,727	$	2,896	$	12,623	$	7,954	$	1,371	$	9,325

	Six Months Ended
	June 30,
	2022						2021
	(In thousands)
	United States		International		Total		United States		International		Total
Food service technology	$	5,227	$	335	$	5,562	$	5,551	$	270	$	5,821
POS automation		2,472		–		2,472		2,412		8		2,420
Casino and gaming		6,717		4,570		11,287		4,402		1,930		6,332
Printrex		–		–		–		52		219		271
TransAct Services Group		2,413		591		3,004		2,532		250		2,782
Total net sales	$	16,829	$	5,496	$	22,325	$	14,949	$	2,677	$	17,626

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 six months ended June 30, 2022, we recognized revenue of $0.6 million related to our contract liabilities at December 31, 2021. Total net contract liabilities consisted of the following:

	June 30, 2022			December 31, 2021
	(In thousands)
Unbilled receivables, current	$	342		$	314
Unbilled receivables, non-current		185			308
Customer pre-payments		(320	)		(99	)
Deferred revenue, current		(887	)		(805	)
Deferred revenue, non-current		(169	)		(186	)
Total net contract liabilities	$	(849	)	$	(468	)

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 June 30, 2022, the aggregate amount of transaction prices allocated to remaining performance obligations was $19.5 million.  The Company expects to recognize revenue of $18.8 million of its remaining performance obligations within the next 12 months following June 30, 2022, $0.6 million within the next 24 months following June 30, 2022 and the balance of these remaining performance obligations recognized within the next 36 months following June 30, 2022.