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Revenue Recognition
12 Months Ended
Dec. 31, 2021
Revenue Recognition [Abstract]  
Revenue Recognition Note 3 – Revenue Recognition All of the Company’s revenues are earned from contracts with customers and are classified as either Product or Contract revenues. Contracts include R&D activities performed pursuant to written agreements and purchase orders, as well as arrangements that are implied by customary practices or law. Disaggregation of Revenue The Company sells products directly to military contractors and OEM’s and they use our displays in a diverse range of applications encompassing the military, and commercial, including medical and industrial, market sectors. Revenues are classified as either military, commercial, consumer or multiple based on management’s knowledge of the customer’s products and markets served by displays or the R&D contract work. Revenues classified as multiple are for sales to customers that incorporate the Company’s displays in products that could be used for either military or commercial applications. R&D activities are performed for both military customers and U.S. government defense related agencies and consumer companies. Product and Contract revenues are disclosed on the Consolidated Statements of Operations. Additional disaggregated revenue information for the years ended December 31, 2021 and 2020 were as follows (in thousands): Twelve Months Ended December 31 2021 2020North and South America $16,148 $16,434Europe, Middle East, and Africa 8,180 9,834Asia Pacific 1,718 3,156Total $26,046 $29,424 Twelve Months Ended December 31 2021 2020Military $17,320 $21,373Commercial, including industrial and medical 2,775 1,607Consumer 1,796 3,383Multiple 4,155 3,061Total $26,046 $29,424 Accounts Receivable from Customers Accounts receivable, net of allowances, associated with revenue from customers were approximately $4.5 million and $5.3 million as of December 31, 2021 and 2020, respectively. Contract Assets and Liabilities Unbilled Accounts Receivables (Contract Assets) - Pursuant to the over time revenue recognition model, revenue may be recognized prior to the customer being invoiced. An unbilled accounts receivable is recorded to reflect revenue that is recognized when the cost based input method is applied and such revenue exceeds the amount invoiced to the customer. Unbilled receivables are disclosed on the Consolidated Balance Sheet. Customer Advances and Deposits (Contract Liabilities) - The Company recognizes a contract liability when it has billed and received consideration from the customer pursuant to the terms of a contract but has not yet recognized the related revenue. These billings in excess of revenue are classified as deferred revenue on the Consolidated Statements of Operations. Total contract assets and liabilities consisted of the following amounts (in thousands): December 31 December 31, 2021 2020 Unbilled Receivables (contract assets) $ 1,102 $ 253 Deferred Revenue (contract liabilities) $ 54 $ 425 During the years ended December 31, 2021 and 2020, the Company recognized $0.4 million and $0.2 million of revenue related to its contract liabilities that existed as of December 31, 2021 and 2020, respectively. Remaining Performance Obligations. The Company has elected the practical expedient, which allows disclosure of remaining performance obligations only for contracts with an original duration of greater than one year. Such remaining performance obligations primarily relate to engineering and design services. As of December 31, 2021 and 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was $0.5 million and $2.5 million. The Company expects to recognize $0.5 million of revenue relating to its remaining performance obligations over the next 12 months.