Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2023

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

Note 3. Revenue from Contracts with Customers

Disaggregation of Revenue

The following table summarizes the Company’s product and service revenue disaggregated by geographic region, which is determined based on customer location, for the three months ended March 31, 2023 and 2022:

	Three Months Ended March 31,
	2023		2022
United States	$	4,264	$	3,970
South Korea		9		1,434
Europe		1,538		1,619
Asia (excluding South Korea)		708		780
Other		104		138
Total1	$	6,623	$	7,941

1.The table above does not include lease revenue of $1,629 and $1,399 for three months ended March 31, 2023 and 2022, respectively. Substantially all lease revenue originates from the United States. Refer to Note 5, Leases.

Contract Balances

The following table provides information about receivables and contract liabilities from contracts with customers:

	Classification	As of March 31, 2023		As of December 31, 2022
Accounts receivable, current	Accounts receivable, net	$	4,660	$	6,040
Notes receivable, current	Notes receivable, net	$	203	$	200
Notes receivable, long-term	Notes and other receivables, long-term, net	$	768	$	442
Contract asset, current	Prepaid and other current assets	$	404	$	332
Deferred revenue, current	Deferred revenue	$	1,032	$	768
Deferred revenue, non-current	Other long-term liabilities	$	198	$	17
Contract liability, long-term	Other long-term liabilities	$	161	$	150

Accounts Receivables, Net – Accounts receivables, net, include amounts billed and due from customers. The amounts due are stated at their net estimated realizable value and are classified as current or noncurrent based on the timing of when the Company expects to receive payment. Most customers are on pre-paid or 30-day payment terms, depending on the product purchased. The Company

maintains an allowance for expected credit losses to provide for the estimated amount of receivables that will not be collected. The allowance is based upon an assessment of customer credit worthiness, historical payment experience, the age of outstanding receivables, collateral to the extent applicable and reflects the possible impact of current conditions and reasonable forecasts not already reflected in historical loss information.

The following table summarizes the activity in the allowance for accounts receivable:

	Amount
Accounts receivable, allowance for credit losses as of    December 31, 2022	$	56
Provision for credit losses		(13	)
Write-offs		—
Accounts receivable, allowance for credit losses as of    March 31, 2023	$	43
Accounts receivable, allowance for credit losses as of    December 31, 2021	$	47
Provision for credit losses		3
Write-offs		(16	)
Accounts receivable, allowance for credit losses as of    March 31, 2022	$	34

Notes Receivables, Net – Notes receivable, net includes amounts billed and due from customers under extended payment terms with a significant financing component. Interest rates on notes receivable range from 5.0% to 7.0%. The Company recorded interest income on notes receivable during the three months ended March 31, 2023 and 2022 of $12 and $6, respectively, in other income, net in the statement of operations.

The following table summarizes the activity in the allowance for notes receivable:

	Amount
Notes receivable, allowance for credit losses as of    December 31, 2022	$	13
Provision for credit losses		7
Write-offs		—
Notes receivable, allowance for credit losses as of    March 31, 2023	$	20
Notes receivable, allowance for credit losses as of    December 31, 2021	$	63
Provision for credit losses		129
Write-offs		(11	)
Notes receivable, allowance for credit losses as of    March 31, 2022	$	181

Contract Assets – The Company's contract assets represent revenue recognized for performance obligations completed before an unconditional right to payment exists, and therefore invoicing has not yet occurred. The Company classifies contract assets in Prepaid and other current assets in the Company's condensed balance sheets.

The following table provides information about contract assets from contracts with customers:

	Amount
Contract assets as of December 31, 2022	$	332
Contract assets recognized		117
Payments received		(45	)
Contract assets as of March 31, 2023	$	404

Contract Liabilities – The Company’s contract liabilities represent services and products sold to customers for which the performance obligation has not been completed by the Company. The Company classifies contract liabilities as current or noncurrent based on the timing of when it expects to recognize revenue. The noncurrent portion of contract liabilities is included in other long-term liabilities in the Company’s condensed balance sheets.

The following table provides information about contract liabilities from contracts with customers:

	Amount
Contract liabilities as of December 31, 2022	$	935
Billings not yet recognized as revenue		823
Beginning contract liabilities recognized as revenue		(367	)
Contract liabilities as of March 31, 2023	$	1,391
Contract liabilities as of December 31, 2021	$	970
Billings not yet recognized as revenue		432
Beginning contract liabilities recognized as revenue		(361	)
Contract liabilities as of March 31, 2022	$	1,041

Transaction Price Allocated to Future Performance Obligations

At March 31, 2023, the revenue expected to be recognized in future periods related to performance obligations that are unsatisfied for executed contracts with an original duration of one year or more was approximately $8,974. The Company expects to satisfy its remaining performance obligations by December 31, 2027, with $2,947 to be satisfied by December 31, 2023, $2,639 to be satisfied by December 31, 2024, $1,865 to be satisfied by December 31, 2025, $883 to be satisfied by December 31, 2026 and $640 to be satisfied thereafter. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with original expected lengths of one year or less or (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for the products delivered or services performed.