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REVENUE
 6 Months Ended
Jun. 30, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
We separate our goods and services among two reportable segments, North America and International. The two segments consist of revenue originating from:

•North America: including the United States, Canada and Mexico
•International: all geographies outside North America, currently consisting primarily of Australia, France, Germany, Italy, Malaysia, Spain and Switzerland

Refer to Note 18 for further detail regarding the Company's reportable segments.

The following table summarizes our segment revenue (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
North America Revenue:
POC Lab Instruments & Other$3,544 $3,482 $8,191 $6,470 
POC Lab Consumables20,336 19,296 38,974 36,248 
POC Imaging & Informatics5,902 7,101 11,953 13,789 
PVD6,839 6,210 11,415 13,074 
OVP4,282 4,444 7,745 8,225 
Total North America Revenue$40,903 $40,533 $78,278 $77,806 
International Revenue:
POC Lab Instruments & Other$3,838 $3,987 $7,570 $7,001 
POC Lab Consumables10,431 11,935 22,179 24,159 
POC Imaging & Informatics8,644 7,277 19,606 13,935 
PVD861 1,196 1,844 2,530 
Total International Revenue$23,774 $24,395 $51,199 $47,625 
Total Revenue$64,677 $64,928 $129,477 $125,431 
Remaining Performance Obligations

Remaining performance obligations represent the aggregate transaction price allocated to performance obligations with an original contract term greater than one year which are fully or partially unsatisfied at the end of the period. Remaining performance obligations include noncancellable purchase orders, the non-lease portion of minimum purchase commitments under long-term supply arrangements, extended warranty, service and other long-term contracts. Remaining performance obligations do not include revenue from contracts with customers with an original term of one year or less, revenue from long-term supply arrangements with no minimum purchase requirements, revenue expected from purchases made in excess of the minimum purchase requirements, or revenue from instruments leased to customers. While the remaining performance obligations disclosure is similar in concept to backlog, the definition of remaining performance obligations excludes leases and contracts that provide the customer with the right to cancel or terminate for convenience with no substantial penalty, even if historical experience indicates the likelihood of cancellation or termination is remote. Additionally, the Company has elected to exclude contracts with customers with an original term of one year or less from remaining performance obligations.

As of June 30, 2022, the aggregate amount of the transaction price allocated to remaining minimum performance obligations was approximately $182.5 million. As of June 30, 2022, the Company expects to recognize revenue as follows (in thousands):
Year Ending December 31,Revenue
2022 (remaining)$21,068 
202342,508 
202437,906 
202532,247 
202626,843 
Thereafter21,924 
$182,496 

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled contract assets, deferred revenue, and customer deposits and billings in excess of revenue recognized. In addition, the Company defers certain costs incurred to obtain contracts.

Contract Assets

Certain unbilled amounts related to long-term contracts for which we provide a free term to the customer are recorded in "Other current assets" and "Other non-current assets" on the accompanying Condensed Consolidated Balance Sheets. The collection of these balances occurs over the term of the underlying contract. The balances as of June 30, 2022 were $1.6 million and $5.5 million for current and non-current assets, respectively, shown net of related unearned interest. The balances as of December 31, 2021 were $1.5 million and $5.1 million for current and non-current assets, respectively, shown net of related unearned interest. The increase in contract assets for the six-month period ended June 30, 2022 is primarily related to additional contract assets recorded for contracts with a free term, partially offset by payments received.
Contract Liabilities

The Company receives cash payments from customers for licensing fees or other arrangements that extend for a specified term. These contract liabilities are classified as either current or long-term in the Condensed Consolidated Balance Sheets based on the timing of when the Company expects to recognize revenue. As of June 30, 2022 and December 31, 2021, contract liabilities were $8.6 million and $9.6 million, respectively, and are included within "Deferred revenue, current, and other" and "Deferred revenue, non-current" in the accompanying Condensed Consolidated Balance Sheets. The decrease in the contract liability balance during the six-month period ended June 30, 2022 is attributable to approximately $5.6 million of revenue recognized during the period and an exchange rate impact of $0.2 million, partially offset by approximately $3.9 million of additional deferred sales in 2022, and the acquisition of VetZ contract liabilities of approximately $0.9 million. Contract liabilities are reported on the accompanying Condensed Consolidated Balance Sheets on a contract-by-contract basis.