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Revenue Revenue
 12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
ASC 606 Adoption Impact
On January 1, 2018, the Company adopted ASC 606 applying the modified retrospective method. The Company recognized the cumulative effect of initially applying the new guidance as an adjustment to the opening balance of accumulated deficit as of the adoption date. The Company applied ASC 606 to all contracts that were not completed at the date of initial application. Comparative information for prior periods has not been restated and continues to be reported under the accounting standards in effect for those periods. In connection with the adoption of ASC 606, the Company also adopted ASC No. 340-40, Other Assets and Deferred Costs - Contracts with Customers, which requires the deferral of incremental costs of obtaining a contract with a customer. Collectively, ASC No. 606 and ASC No. 340-40 are referred to as the “new standard.”

Adoption of the new standard resulted in changes to the Company’s accounting policies for revenue recognition, commissions expense and deferred commissions as discussed below. The Company recorded a reduction to opening accumulated deficit of $12.4 million as of January 1, 2018 due to the cumulative impact of adopting the new standard as follows:

•A decrease in total deferred revenue of $4.0 million primarily due to the removal of the limitation on contingent revenue that would have accelerated revenue recognition for certain of our historical revenue contracts; and

•Recognition of a deferred commissions asset of $8.4 million on our consolidated balance sheet due to the requirement under the new standard to recognize incremental customer acquisition costs in our consolidated statement of operations as the related performance obligations are met as compared to the previous recognition to expense as incurred.

Impact on the Consolidated Financial Statements

The following table summarize the impact of ASC 606 on the Company’s Consolidated Statement of Operations for the year ended December 31, 2018:

Selected Consolidated Statement of Operations Line Items
Year Ended December 31, 2018
(in thousands, except per share amounts)As Reported
Adjustments
Increase (Decrease)
Balance Without Adopting the New Standard
Revenue - products$144,682 $(2,594)$142,088 
Revenue - services87,541 — 87,541 
Total revenue232,223 (2,594)229,629 
Gross profit180,327 (2,594)177,733 
Sales and marketing103,214 1,345 104,559 
Total operating expenses208,006 1,345 209,351 
Loss from operations(27,679)(3,939)(31,618)
Net loss(27,617)(3,939)(31,556)
Basic and diluted net loss per share$(0.38)$(0.43)
Contract Balances
The following table reflects contract balances with customers (in thousands):
As ofAs of
Balance Sheet Line ReferenceDecember 31, 2020December 31, 2019
Accounts receivables, net$51,051 $53,566 
Deferred revenue, current65,999 62,233 
Deferred revenue, non-current42,700 38,931 

The Company receives payment from customers based upon billing cycles. Invoice payment terms typically range from 30 to 90 days.

Accounts receivable are recorded when the right to consideration becomes unconditional.

Contract assets include amounts related to the Company’s contractual right to consideration for performance obligations not yet billed, and are included in prepaid and other current assets in the Company’s Consolidated Balance Sheets. The contract assets amount was immaterial as of December 31, 2020 and 2019.

Deferred revenue primarily consists of amounts that have been invoiced but not yet recognized as revenue and consists of performance obligations pertaining to support and subscription services. During the years ended December 31, 2020 and 2019, the Company recognized revenue of $61.8 million and $63.2 million, respectively, related to deferred revenue at the beginning of the period.

Deferred revenue consisted of the following (in thousands):
 December 31,
2020		December 31,
2019
Deferred revenue:  
Products$7,358 $6,593 
Services101,341 94,571 
Total deferred revenue108,699 101,164 
Less: current portion(65,999)(62,233)
Non-current portion$42,700 $38,931 

Deferred Contract Acquisition Costs
As of December 31, 2020, the current and non-current portions of deferred contract acquisition costs totaled $5.3 million and $3.7 million, respectively, and the related amortization was $6.5 million for the year ended December 31, 2020. As of December 31, 2019, the current and non-current portions of deferred contract acquisition costs totaled $6.2 million and $3.3 million, respectively, and the related amortization was $7.4 million for the year ended December 31, 2019.

For the years ended December 31, 2020, 2019 and 2018, the Company had no impairment loss in relation to the costs capitalized and no asset impairment charges related to contract assets.

Remaining Performance Obligations
Remaining performance obligations represent contracted revenues that are non-cancellable and have not yet been recognized due to unsatisfied or partially satisfied performance obligations, which include deferred revenues and amounts that will be invoiced and recognized as revenues in future periods.
The Company expects to recognize revenue on the remaining performance obligations as follows (in thousands):
 December 31, 2020
Within 1 year$65,999 
Next 2 to 3 years32,824 
Thereafter9,876 
Total$108,699