DEFERRED REVENUE

12 Months Ended

Dec. 31, 2021

Deferred Revenue [Abstract]

DEFERRED REVENUE

NOTE 5:- DEFERRED REVENUE

Deferred revenue as of December 31, 2021 and 2020 was $4,787 and $10,607, respectively, and primarily relates to revenue that is recognized over time for service contracts. Approximately $7,935 out of the balance as of December 31, 2020 was recognized as revenue during the year ended December 31, 2021.

The balance of deferred revenues approximates the aggregate amount of the billed and collected amount allocated to the unsatisfied performance obligations at the end of reporting period.

The aggregate estimated amount of the transaction price allocated to performance obligations from contracts with customers that have an original expected duration of more than one year and that are unsatisfied (or partially unsatisfied) as of December 31, 2021 is approximately $393,370. Such unsatisfied performance obligations, other than for large scale governmental projects (expected to be recognized over periods of approximately 8—12 years), principally relate to contracts in which the Company committed to provide customer care services, extended warranty on equipment delivered to its customers or other services for an original period of more than one year.

The Company elected to use the exemption of not disclosing the prices allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period, that are part of contracts that have an original expected duration of one year or less.