XML 32 R19.htm IDEA: XBRL DOCUMENT v3.23.1
Revenue
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
11.
Revenue

 

Disaggregation of Revenue

 

The Company’s former subsidiary, Nano, recognized revenue related to sales of manufactured small satellites and their components, as well as launch-related services. This was the Company’s only source of revenue during the period up and until the sale of Nano on September 6, 2022. Nano’s results of operations were included through September 6, 2022, at which point Nano was

deconsolidated (refer to Note 16: Nano Sale for further information). Revenue recognized over time versus revenue recognized upon transfer during the years ended December 31, 2022 and 2021 was as follows (in thousands):

 

 

 

Year ended December 31,

 

 

 

2022

 

 

2021

 

Revenue from performance obligations recognized over time

 

$

12,491

 

 

$

8,400

 

Revenue from performance obligations recognized at point-in-time transfer

 

 

1,334

 

 

 

4,005

 

Total

 

$

13,825

 

 

$

12,405

 

 

Contract Balances

 

Contract assets relate to the Company's conditional right to consideration for its completed performance under the contract. As of December 31, 2022 and 2021, the Company had no material contract assets. Contract liabilities relate to payments received in advance of performance under the contract. Contract liabilities (i.e., deferred revenue) are recognized as revenue as (or when) the Company performs under the contract. The following table reflects the change in contract liabilities for the periods indicated (in thousands):

 

 

 

Year ended December 31,

 

 

 

2022

 

Beginning Balance

 

$

6,636

 

Revenue recognized that was included in the contract liability at the beginning of the year

 

 

(2,426

)

Increase, excluding amounts recognized as revenue during the period

 

 

3,899

 

Deconsolidation of Nano

 

 

(8,109

)

Ending Balance

 

$

-