Revenue

9 Months Ended

Sep. 30, 2023

Revenue [Abstract]

Revenue

3. 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 this 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,
	2023						2022
	(In thousands)
	United States		International		Total		United States		International		Total
Food service technology	$	4,049	$	192	$	4,241	$	3,496	$	252	$	3,748
POS automation		1,575		69		1,644		5,228		–		5,228
Casino and gaming		5,411		3,608		9,019		3,758		3,985		7,743
TransAct Services Group		2,087		199		2,286		983		154		1,137
Total net sales	$	13,122	$	4,068	$	17,190	$	13,465	$	4,391	$	17,856

	Nine Months Ended
	September 30,
	2023						2022
	(In thousands)
	United States		International		Total		United States		International		Total
Food service technology	$	10,937	$	657	$	11,594	$	8,723	$	587	$	9,310
POS automation		5,261		84		5,345		7,700		–		7,700
Casino and gaming		26,455		10,547		37,002		10,475		8,555		19,030
TransAct Services Group		4,791		634		5,425		3,396		745		4,141
Total net sales	$	47,444	$	11,922	$	59,366	$	30,294	$	9,887	$	40,181

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, net” and “Other 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, 2023, we recognized revenue of $1.2 million related to our contract liabilities at December 31, 2022.  Total net contract liabilities consisted of the following:

	September 30, 2023			December 31, 2022
	(In thousands)
Unbilled receivables, current	$	194		$	392
Unbilled receivables, net of current portion		144			163
Customer pre-payments		(410	)		(101	)
Deferred revenue, current		(977	)		(1,329	)
Deferred revenue, net of current portion		(201	)		(143	)
Total net contract liabilities	$	(1,250	)	$	(1,018	)

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, 2023, the aggregate amount of transaction prices allocated to remaining performance obligations was $12.0 million.  The Company expects to recognize revenue of $11.7 million of its remaining performance obligations within the next 12 months following September 30, 2023, $0.2 million within the next 24 months following September 30, 2023 and the balance of these remaining performance obligations recognized within the next 36 months following September 30, 2023.