Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2021

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 and nine months ended September 30, 2021 and 2020:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
United States	$	3,521	$	3,119	$	10,901	$	7,559
South Korea		1,165		642		3,353		2,048
Europe		908		761		2,718		2,301
Asia (excluding South Korea)		1,278		1,463		2,453		3,447
Other		115		87		276		224
Total1	$	6,987	$	6,072	$	19,701	$	15,579

¹ The table above does not include lease revenue of $1,285 and $1,073 for three months ended September 30, 2021 and 2020, respectively, and $3,536 and $2,519 for the nine months ended September 30, 2021 and 2020, 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 September 30, 2021		As of December 31, 2020
Accounts receivable, current	Accounts receivable, net	$	2,797	$	2,012
Notes receivable, current	Notes receivable, net	$	369	$	444
Notes receivable, long-term	Notes and other receivables, long-term, net	$	190	$	452
Contract liability, current	Deferred revenue	$	922	$	923
Contract liability, non-current	Other long-term liabilities	$	87	$	128

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, 2020	$	19
Provision for credit losses		9
Write-offs		—
Accounts receivable, allowance for credit losses as of    September 30, 2021	$	28
Accounts receivable, allowance for credit losses as of    January 1, 2020	$	—
Impact of adoption of ASC 326		15
Provision for credit losses		28
Write-offs		(20	)
Accounts receivable, allowance for credit losses as of    September 30, 2020	$	23

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 5.75%. The Company recorded interest income on notes receivable during the three months ended September 30, 2021 and 2020 of $8 and $13, respectively, and during the nine months ended September 30, 2021 and 2020 of $27 and $42, respectively.

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

	Amount
Notes receivable, allowance for credit losses as of    December 31, 2020	$	18
Provision for credit losses		(6	)
Write-offs		—
Notes receivable, allowance for credit losses as of    September 30, 2021	$	12
Notes receivable, allowance for credit losses as of    January 1, 2020	$	—
Impact of adoption of ASC 326	19
Provision for credit losses		1
Write-offs		—
Notes receivable, allowance for credit losses as of    September 30, 2020	$	20

Contract Liabilities – The Company’s contract liabilities consist of deferred revenue related to services and products sold to customers for which the performance obligation has not been completed by the Company. The Company classifies deferred revenue as current or noncurrent based on the timing of when it expects to recognize revenue. The noncurrent portion of deferred revenue 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, 2020	$	1,051
Billings not yet recognized as revenue		784
Beginning contract liabilities recognized as revenue		(826	)
Contract liabilities as of September 30, 2021	$	1,009
Contract liabilities as of December 31, 2019	$	895
Billings not yet recognized as revenue		658
Beginning contract liabilities recognized as revenue		(670	)
Contract liabilities as of September 30, 2020	$	883

Transaction Price Allocated to Future Performance Obligations

At September 30, 2021, 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 $7,412. The Company expects to satisfy its remaining performance obligations by December 31, 2026, with $1,420 to be satisfied by December 31, 2021, $3,851 to be satisfied by December 31, 2022, $1,651 to be satisfied by December 31, 2023 and $490 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.