Revenue from Contracts with Customers

12 Months Ended

Jun. 30, 2020

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

3.Revenue from Contracts with Customers

Disaggregated Revenue

We manage our business under three operating segments: Americas, Europe and Asia. All of our operating segments rely on our core technologies and sell the same products, primarily in the global automotive industry. The segments also possess similar economic characteristics, resulting in similar long-term expected financial performance. In addition, we sell to substantially the same customers in all of our operating segments. Accordingly, our operating segments are aggregated into one reportable segment.

See Note 22, of the Notes to the Consolidated Financial Statements, “Segment and Geographic Information” for revenue by geography and product line.

We have three major product lines: Measurement Solutions, 3D Scanning Solutions and Value Added Services.  

Our revenues can be disaggregated between two categories (1) goods transferred at a point in time, which typically includes the equipment performance obligation of our Measurement Solutions and contracts that include a single performance obligation and (2) services transferred over time, which include installation, labor support and training performance obligations.

The following table summarizes these two categories for the twelve months ended June 30, 2020 (in thousands):

	Twelve Months Ended		Twelve Months Ended
Timing of Revenue Recognition	June 30, 2020		June 30, 2019
Goods transferred at a point of time	$	41,784	$	57,784
Services transferred over time		20,478		19,038
Total Net Sales	$	62,262	$	76,822

Remaining Performance Obligations

The estimated recognition of our remaining unsatisfied performance obligations beyond one year is as follows (in thousands):

Years Ending June 30,	Amount
2021	$	10,235
2022		821
2023		1
2024		-
after 2024		-
Total	$	11,057

Contract Balances

Current balances of our contract balances are as follows (in thousands):

Balance Sheet Account	June 30, 2020			July 1, 2019			Increase / (Decrease)
Unbilled receivables	$	4,784		$	5,394		$	(610	)
Deferred revenue		(6,246	)		(6,649	)		403
Net Unbilled receivables / (Deferred revenue)	$	(1,462	)	$	(1,255	)	$	(207	)

The change in our net Unbilled receivables / (Deferred revenue) from July 1, 2019 to June 30, 2020 was primarily due to the amount of revenue recognized as we satisfied performance obligations during the twelve months ended June 30, 2020, partially offset by the amount and timing of invoicing during that same period related to our Measurement Solutions and 3D Scanning Solutions. During the twelve months ended June 30, 2020, we recognized revenue of $6,551,000 that was included in “Deferred revenue” at July 1, 2019.  During the twelve months ended June 30, 2019, we recognized revenue of $5,454,000 that was included in “Deferred revenue” at July 1, 2018.