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Note 2 - Revenue Recognition
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

NOTE 2: REVENUE RECOGNITION

 

The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. The estimated revenues do not include amounts of royalties or unexercised contract renewals:

 

  

2022

  

2023

  

2024

 

License, NRE and related revenues

 $26,628  $1,318  $306 

 

Disaggregation of revenue:

 

The following table provides information about disaggregated revenue by primary geographical market, major product line and timing of revenue recognition:

 

  

Year ended December 31, 2020

  

Year ended December 31, 2021

 
  

Licensing and related revenues

  

Royalties

  

Total

  

Licensing, NRE and related revenues

  

Royalties

  

Total

 

Primary geographical markets

                        

United States

 $6,716  $14,097  $20,813  $16,685  $10,033  $26,718 

Europe and Middle East

  6,176   5,790   11,966   2,938   3,938   6,876 

Asia Pacific

  39,621   27,926   67,547   53,194   35,908   89,102 

Other

  —   —   —   10   —   10 

Total

 $52,513  $47,813  $100,326  $72,827  $49,879  $122,706 
                         

Major product/service lines

                        

Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS)

 $40,748  $37,917  $78,665  $52,460  $36,960  $89,420 

Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision)

  11,765   9,896   21,661   20,367   12,919   33,286 

Total

 $52,513  $47,813  $100,326  $72,827  $49,879  $122,706 
                         

Timing of revenue recognition

                        

Products transferred at a point in time

 $40,075  $47,813  $87,888  $53,401  $49,879  $103,280 

Products and services transferred over time

  12,438   —   12,438   19,426   —   19,426 

Total

 $52,513  $47,813  $100,326  $72,827  $49,879  $122,706 

 

 

  

Year ended December 31, 2019

 
  

Licensing and related revenues

  

Royalties

  

Total

 

Primary geographical markets

            

United States

 $15,203  $1,424  $16,627 

Europe and Middle East

  5,282   16,211   21,493 

Asia Pacific

  27,405   21,627   49,032 

Total

 $47,890  $39,262  $87,152 
             

Major product/service lines

            

Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS)

 $36,471  $34,206  $70,677 

Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision)

  11,419   5,056   16,475 

Total

 $47,890  $39,262  $87,152 
             

Timing of revenue recognition

            

Products transferred at a point in time

 $33,794  $39,262  $73,056 

Products and services transferred over time

  14,096   —   14,096 

Total

 $47,890  $39,262  $87,152 

Contract balances:

 

The following table provides information about trade receivables, unbilled receivables and contract liabilities from contracts with customers:

 

  

December 31, 2020

  

December 31, 2021

 
         

Trade receivables

 $14,765  $14,644 

Unbilled receivables (associated with licensing, NRE and related revenue)

  5,479   1,833 

Unbilled receivables (associated with royalties)

  10,980   10,972 

Deferred revenues (short-term contract liabilities)

  2,434   8,661 

 

The Company receives payments from customers based upon contractual payment schedules; trade receivables are recorded when the right to consideration becomes unconditional, and an invoice is issued to the customer. Unbilled receivables associated with licensing and other include amounts related to the Company’s contractual right to consideration for completed performance objectives not yet invoiced. Unbilled receivables associated with royalties are recorded as the Company recognizes revenues from royalties earned during the year, but not yet invoiced, either by actual sales data received from customers, or, when applicable, by the Company’s estimation. Contract liabilities (deferred revenue) include payments received in advance of performance under the contract, and are realized with the associated revenue recognized under the contract.

 

During the year ended December 31, 2021, the Company recognized $2,385 that was included in deferred revenues (short-term contract liability) balance at January 1, 2021.

 

Practical expediency and exemptions:

 

The Company generally expenses sales commissions when incurred because the amortization period would have been less than one year. The Company records these costs within sales and marketing expenses on the Company’s consolidated statements of income (loss).

 

The Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.