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Note 4 - Revenue Recognition | 6 Months Ended
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Jun. 30, 2023
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] |
NOTE 4: | REVENUE RECOGNITION
Under ASC No. 606, “Revenue from Contracts with Customers” (“ASC 606”), an entity recognizes revenue when or as it satisfies a performance obligation by transferring intellectual property (“IP”) licenses or services to the customer, either at a point in time or over time. The Company recognizes most of its revenues at a point in time upon delivery when the customer accepts control of the IP. The Company recognizes revenue over time on NRE services or on significant license customization contracts that are in the scope of ASC 606 by using cost inputs to measure progress toward completion of its performance obligations. Revenues that are derived from the sale of a licensee’s products that incorporate the Company’s IP are classified as royalty revenues. Royalty revenues are recognized during the quarter in which the sale of the product incorporating the Company’s IP occurs. Royalties are calculated either as a percentage of the revenues received by the Company’s licensees on sales of products incorporating the Company’s IP or on a per unit basis, as specified in the agreements with the licensees. When the Company does not receive actual sales data from the customer prior to the finalization of its financial statements, royalty revenues are recognized based on the Company’s estimation of the customer’s sales during the quarter. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED 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:
|  | Remainder of 2023 |  |  | 2024 |  |  | 2025 |
Licensing, NRE and related revenues |  | $ | 8,160 |  |  | $ | 2,194 |  |  | $ | 676 |
Disaggregation of revenue: The following table provides information about disaggregated revenue by primary geographical market, major product line and timing of revenue recognition:
|  | Six months ended June 30, 2023 (unaudited) |  |  | Three months ended June 30, 2023 (unaudited) |
|  | Licensing, NRE and related revenues |  |  | Royalties |  |  | Total |  |  | Licensing, NRE and related revenues |  |  | Royalties |  |  | Total |
Primary geographical markets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 5,700 |  |  | $ | 3,061 |  |  | $ | 8,761 |  |  | $ | 2,909 |  |  | $ | 1,411 |  |  | $ | 4,320 |
Europe and Middle East |  |  | 4,643 |  |  |  | 1,312 |  |  |  | 5,955 |  |  |  | 2,309 |  |  |  | 453 |  |  |  | 2,762 |
Asia Pacific |  |  | 26,677 |  |  |  | 13,012 |  |  |  | 39,689 |  |  |  | 11,556 |  |  |  | 7,507 |  |  |  | 19,063 |
Other |  |  | 502 |  |  |  | — |  |  |  | 502 |  |  |  | 27 |  |  |  | — |  |  |  | 27 |
Total |  | $ | 37,522 |  |  | $ | 17,385 |  |  | $ | 54,907 |  |  | $ | 16,801 |  |  | $ | 9,371 |  |  | $ | 26,172 |
Major product/service lines |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) |  | $ | 29,739 |  |  | $ | 12,445 |  |  | $ | 42,184 |  |  | $ | 13,207 |  |  | $ | 6,780 |  |  | $ | 19,987 |
Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) |  |  | 7,783 |  |  |  | 4,940 |  |  |  | 12,723 |  |  |  | 3,594 |  |  |  | 2,591 |  |  |  | 6,185 |
Total |  | $ | 37,522 |  |  | $ | 17,385 |  |  | $ | 54,907 |  |  | $ | 16,801 |  |  | $ | 9,371 |  |  | $ | 26,172 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 25,524 |  |  | $ | 17,385 |  |  | $ | 42,909 |  |  | $ | 10,903 |  |  | $ | 9,371 |  |  | $ | 20,274 |
Products and services transferred over time |  |  | 11,998 |  |  |  | — |  |  |  | 11,998 |  |  |  | 5,898 |  |  |  | — |  |  |  | 5,898 |
Total |  | $ | 37,522 |  |  | $ | 17,385 |  |  | $ | 54,907 |  |  | $ | 16,801 |  |  | $ | 9,371 |  |  | $ | 26,172 |
|  | Six months ended June 30, 2022 (unaudited) |  |  | Three months ended June 30, 2022 (unaudited) |
|  | Licensing, NRE and related revenues |  |  | Royalties |  |  | Total |  |  | Licensing, NRE and related revenues |  |  | Royalties |  |  | Total |
Primary geographical markets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 9,637 |  |  | $ | 4,100 |  |  | $ | 13,737 |  |  | $ | 5,162 |  |  | $ | 1,829 |  |  | $ | 6,991 |
Europe and Middle East |  |  | 2,534 |  |  |  | 1,340 |  |  |  | 3,874 |  |  |  | 2,097 |  |  |  | 675 |  |  |  | 2,772 |
Asia Pacific |  |  | 32,345 |  |  |  | 17,630 |  |  |  | 49,975 |  |  |  | 14,864 |  |  |  | 8,568 |  |  |  | 23,432 |
Total |  | $ | 44,516 |  |  | $ | 23,070 |  |  | $ | 67,586 |  |  | $ | 22,123 |  |  | $ | 11,072 |  |  | $ | 33,195 |
Major product/service lines |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) |  | $ | 32,810 |  |  | $ | 17,262 |  |  | $ | 50,072 |  |  | $ | 15,995 |  |  | $ | 8,200 |  |  | $ | 24,195 |
Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) |  |  | 11,706 |  |  |  | 5,808 |  |  |  | 17,514 |  |  |  | 6,128 |  |  |  | 2,872 |  |  |  | 9,000 |
Total |  | $ | 44,516 |  |  | $ | 23,070 |  |  | $ | 67,586 |  |  | $ | 22,123 |  |  | $ | 11,072 |  |  | $ | 33,195 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 30,776 |  |  | $ | 23,070 |  |  | $ | 53,846 |  |  | $ | 14,844 |  |  | $ | 11,072 |  |  | $ | 25,916 |
Products and services transferred over time |  |  | 13,740 |  |  |  | — |  |  |  | 13,740 |  |  |  | 7,279 |  |  |  | — |  |  |  | 7,279 |
Total |  | $ | 44,516 |  |  | $ | 23,070 |  |  | $ | 67,586 |  |  | $ | 22,123 |  |  | $ | 11,072 |  |  | $ | 33,195 |
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED Contract balances: The following table provides information about trade receivables, unbilled receivables and contract liabilities from contracts with customers:
|  | June 30, 2023 (unaudited) |  |  | December 31, 2022 |
Trade receivables |  | $ | 13,502 |  |  | $ | 12,297 |
Unbilled receivables (associated with licensing, NRE and related revenue) |  |  | 8,570 |  |  |  | 8,695 |
Unbilled receivables (associated with royalties) |  |  | 9,800 |  |  |  | 10,258 |
Deferred revenues (short-term contract liabilities) |  |  | 3,788 |  |  |  | 3,168 |
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, NRE 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 quarter, 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 three and six months ended June 30, 2023, the Company recognized $835 and $2,396, respectively, that was included in deferred revenues (short-term contract liability) balance at January 1, 2023.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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