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Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2018
Revenue Recognition  
Schedule of disaggregation of revenues

The following table provides information about disaggregated revenue by timing of revenue recognition, (in thousands):

      Three Months Ended September 30, 2018
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
     Products transferred at a point in time   $ -    $ 10,000    $ 26    $ 10,026 
     Product and services transferred over time     -      -      1,546      1,546 
     Total   $ -    $ 10,000    $ 1,572    $ 11,572 

 

      Nine Months Ended September 30, 2018
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
     Products transferred at a point in time   $ -    $ 10,011    $ 182    $ 10,193 
     Product and services transferred over time     -      -      5,581      5,581 
     Total   $ -    $ 10,011    $ 5,763    $ 15,774 

 

      Three Months Ended September 30, 2017
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
     Products transferred at a point in time   $ 2,253    $ 77    $ 1,040    $ 3,370 
     Product and services transferred over time     -      -      2,055      2,055 
     Total   $ 2,253    $ 77    $ 3,095    $ 5,425 

 

      Nine Months Ended September 30, 2017
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
     Products transferred at a point in time   $ 2,298    $ 280    $ 1,497    $ 4,075 
     Product and services transferred over time     -      -      3,257      3,257 
     Total   $ 2,298    $ 280    $ 4,754    $ 7,332 

 

 

 

 
Costs in excess of billings and billings in excess of costs

The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers (in thousands):

      September 30,     December 31,
      2018     2017
             
Accounts receivable, net   $ 5,044    $ 15 
Costs and estimated earnings in excess of billings on uncompleted contracts     1,080      680 
Other current assets     -      70 
Billings on uncompleted contracts in excess of related costs     1      5 
Other current liabilities     10,000      10,000 

 

 

 

 

 

 

 

 

 
Schedule of contract assets and liabilities

Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands, except percentages):

      September 30,     December 31,          
      2018     2017     $ Change   % Change
Contract assets   $ 1,080    $ 680    $ 400    58.8 
Contract liabilities     (1)     (5)     4   80.0 
Net contract assets (liabilities)   $ 1,079    $ 675    $ 404    59.9 

 

 

 

 

 

 

 

 

 
Transaction price allocated to the remaining performance obligations, expected timing

Additionally, the estimated revenue does not include amounts of variable consideration attributable to royalties or unexercised contract renewals (in thousands):

      Remainder of 2018     2019
             
Product revenue   $ 1,792    $ 1,375 
License and royalty revenue     -      - 
Contract revenue     1,617      2,553 

 

 

 

 

 

 

 

 

 

 
Schedule of impacts of adopting ASC 606

In accordance with Topic 606, the disclosure of the impact of adoption to our condensed consolidated statements of operations and balance sheets was as follows (in thousands, except per share data):

      Three Months Ended September 30, 2017
      As previously     New revenue     As
      reported     standard adjustment     restated
                   
Product revenue   $ 2,298    $ (45)   $ 2,253 
License and royalty revenue     359      (282)     77 
Contract revenue     3,429      (334)     3,095 
Cost of product revenue     3,224      (46)     3,178 
Cost of contract revenue     2,619      (94)     2,525 
Net loss     (5,241)     (521)     (5,762)
Net loss per share - basic and diluted     (0.07)     (0.01)     (0.08)

 

      Nine Months Ended September 30, 2017
      As previously     New revenue     As
      reported     standard adjustment     restated
                   
Product revenue   $ 2,298    $ -    $ 2,298 
License and royalty revenue     1,240      (960)     280 
Contract revenue     4,793      (39)     4,754 
Cost of product revenue     3,572      -      3,572 
Cost of contract revenue     3,754      (14)     3,740 
Net loss     (16,382)     (985)     (17,367)
Net loss per share - basic and diluted     (0.23)     (0.02)     (0.25)

 

      December 31, 2017
      As previously     New revenue     As
      reported     standard adjustment     restated
                   
Costs and estimated earnings incurred on uncompleted contracts   $ 680    $ -    $ 680 
Other current assets     945      70      1,015 
Billings on uncompleted contracts     5      -      5 
Deferred revenue - current     999      (999)     - 
Deferred revenue - noncurrent     4,151      (4,151)     - 
Shareholders' equity:                  
Accumulated deficit     (524,086)     5,220      (518,866)