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Revenue (Tables) | 6 Months Ended
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Jun. 30, 2018
Revenue |
Revenues disaggregated by geography, major product line and timing of revenue recognition | The following tables present our revenues disaggregated by major products and services, geographical region and timing of revenue recognition. Revenue by major products and services
|  | Three months ended June 30, |  | Six months ended June 30,
|  | 2018 |  | 2017* |  | 2018 |  | 2017*
Hardware products |  | $ | 24,576 |  | $ | 25,256 |  | $ | 42,067 |  | $ | 47,000
Software licenses |  |  | 10,410 |  |  | 9,216 |  |  | 26,413 |  |  | 19,032
Subscription |  |  | 3,818 |  |  | 2,496 |  |  | 6,788 |  |  | 4,611
Professional services |  |  | 1,157 |  |  | 1,070 |  |  | 2,121 |  |  | 2,031
Maintenance, support and other |  |  | 9,593 |  |  | 7,656 |  |  | 17,597 |  |  | 14,984
Total Revenue |  | $ | 49,554 |  | $ | 45,694 |  | $ | 94,986 |  | $ | 87,658
Revenue by location of customer for the three months ended June 30, 2018 and 2017
|  | EMEA |  | Americas |  | APAC |  | Total |
Total Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |
2018 |  | $ | 21,481 |  | $ | 13,270 |  | $ | 14,803 |  | $ | 49,554 |
2017* |  | $ | 21,726 |  | $ | 11,416 |  | $ | 12,552 |  | $ | 45,694 |
Percent of Total: |  |  |  |  |  |  |  |  |  |  |  |  |
2018 |  |  | 43 | % |  | 27 | % |  | 30 | % |  | 100 | %
2017* |  |  | 48 | % |  | 25 | % |  | 27 | % |  | 100 | %
Revenue by location of customer for the six months ended June 30, 2018 and 2017
|  | EMEA |  | Americas |  | APAC |  | Total |
Total Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |
2018 |  | $ | 39,867 |  | $ | 29,191 |  | $ | 25,928 |  | $ | 94,986 |
2017* |  | $ | 40,096 |  | $ | 23,540 |  | $ | 24,022 |  | $ | 87,658 |
Percent of Total: |  |  |  |  |  |  |  |  |  |  |  |  |
2018 |  |  | 42 | % |  | 31 | % |  | 27 | % |  | 100 | %
2017* |  |  | 46 | % |  | 27 | % |  | 27 | % |  | 100 | %
* Prior period amounts are presented under ASC 605 and ASC 985-605 Timing of revenue recognition
| Three months ended |  | Six months ended
| June 30, 2018 |  | June 30, 2018
Products and Licenses transferred at a point in time | $ | 34,986 |  | $ | 68,480
Services transferred over time |  | 14,568 |  |  | 26,506
Total Revenue | $ | 49,554 |  | $ | 94,986
Summary of impacts of adopting Topic 606 on the Company's consolidated financial statements | The following tables summarize the impacts of adopting Topic 606 on the Company’s consolidated financial statements as of June 30, 2018, and for the three and six months ended June 30, 2018. Balance Sheet
|  | June 30, 2018
|  | As Reported |  | Adjustments |  | Balances without the adoption of Topic 606
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Accounts receivable, net of allowance |  | $ | 41,704 |  | $ | (266) |  | $ | 41,438
Contract asset |  |  | 4,915 |  |  | (4,915) |  |  | -
Other current assets |  |  | 7,978 |  |  | (59) |  |  | 7,919
Total current assets |  |  | 176,812 |  |  | (5,240) |  |  | 171,572
Deferred income taxes |  |  | 4,922 |  |  | 507 |  |  | 5,429
Contract asset - non-current |  |  | 7,534 |  |  | (7,534) |  |  | —
Other assets |  |  | 6,649 |  |  | (150) |  |  | 6,499
Total assets |  | $ | 347,092 |  | $ | (12,417) |  | $ | 334,675
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Deferred revenue |  | $ | 30,675 |  | $ | 2,820 |  | $ | 33,495
Short-term income taxes payable |  |  | 1,599 |  |  | (2,689) |  |  | (1,090)
Other accrued expenses |  |  | 10,680 |  |  | (116) |  |  | 10,564
Total current liabilities |  |  | 60,894 |  |  | 15 |  |  | 60,909
Deferred revenue - non-current |  |  | 6,947 |  |  | 1,751 |  |  | 8,698
Deferred income taxes |  |  | 9,131 |  |  | (424) |  |  | 8,707
Total liabilities |  |  | 96,176 |  |  | 1,342 |  |  | 97,518
Stockholders' equity |  |  |  |  |  |  |  |  |
Accumulated income |  |  | 169,317 |  |  | (13,759) |  |  | 155,558
Total stockholders' equity |  |  | 250,916 |  |  | (13,759) |  |  | 237,157
Total liabilities and stockholders' equity |  | $ | 347,092 |  | $ | (12,417) |  | $ | 334,675
Statement of Operations
|  | Three months ended June 30, 2018 |  | Six months ended June 30, 2018
|  | As Reported |  | Adjustments |  | Balances without the adoption of Topic 606 |  | As Reported |  | Adjustments |  | Balances without the adoption of Topic 606
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product and license |  | $ | 34,986 |  | $ | 2,372 |  | $ | 37,358 |  | $ | 68,480 |  | $ | (75) |  | $ | 68,405
Services and other |  |  | 14,568 |  |  | (1,693) |  |  | 12,875 |  |  | 26,506 |  |  | (2,391) |  |  | 24,115
Total revenue |  |  | 49,554 |  |  | 679 |  |  | 50,233 |  |  | 94,986 |  |  | (2,466) |  |  | 92,520
Cost of goods sold |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product and license |  |  | 10,391 |  |  | 141 |  |  | 10,532 |  |  | 18,576 |  |  | 534 |  |  | 19,110
Services and other |  |  | 3,182 |  |  | — |  |  | 3,182 |  |  | 5,732 |  |  | — |  |  | 5,732
Total Cost of goods sold |  |  | 13,573 |  |  | 141 |  |  | 13,714 |  |  | 24,308 |  |  | 534 |  |  | 24,842
Gross profit |  |  | 35,981 |  |  | 538 |  |  | 36,519 |  |  | 70,678 |  |  | (3,000) |  |  | 67,678
Operating Costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | 16,622 |  |  | 225 |  |  | 16,847 |  |  | 30,899 |  |  | 607 |  |  | 31,506
Total operating costs |  |  | 38,592 |  |  | 225 |  |  | 38,817 |  |  | 71,641 |  |  | 607 |  |  | 72,248
Operating income (loss) |  |  | (2,611) |  |  | 313 |  |  | (2,298) |  |  | (963) |  |  | (3,607) |  |  | (4,570)
Income before taxes |  |  | (872) |  |  | 313 |  |  | (559) |  |  | 1,549 |  |  | (3,607) |  |  | (2,058)
Provision for income tax |  |  | 130 |  |  | (748) |  |  | (618) |  |  | 759 |  |  | (1,767) |  |  | (1,008)
Net income (loss) |  | $ | (1,002) |  | $ | 1,061 |  | $ | 59 |  | $ | 790 |  | $ | (1,840) |  | $ | (1,050)
Basic EPS |  | $ | (0.03) |  |  |  |  | $ | 0.00 |  | $ | 0.02 |  |  |  |  | $ | (0.03)
Diluted EPS |  | $ | (0.03) |  |  |  |  | $ | 0.00 |  | $ | 0.02 |  |  |  |  | $ | (0.03)
Schedule of changes in contract assets and contract liabilities | The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.
|  |  |  |  |  | January 1, |  | June 30,
|  |  |  |  |  | 2018 |  | 2018
Receivables, inclusive of trade and unbilled |  |  |  |  |  | $ | 48,217 |  | $ | 41,704
Contract Assets (current and non-current) |  |  |  |  |  | $ | 8,167 |  | $ | 12,449
Contract Liabilities (Deferred Revenue current and non-current) |  |  |  |  |  | $ | 33,752 |  | $ | 37,622
Schedule of estimated revenue expected to be recognized in the future | The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period.
|  | 2018 |  | 2019 |  | 2020 |  | Beyond 2020 |  | Total
Future revenue related to current unsatisfied performance obligations |  | $ | 5,330 |  | $ | 7,100 |  | $ | 4,466 |  | $ | 6,101 |  | $ | 22,997
Schedule related to the capitalized costs and amortization | The following tables provides information related to the capitalized costs and amortization recognized in the period:
in thousands |  |  |  |  |  |  |  |  |  | June 30, 2018
Capitalized costs to obtain contracts, current |  |  |  |  |  |  |  |  | $ | 303
Capitalized costs to obtain contracts, non-current |  |  |  |  |  |  |  |  | $ | 1,733
|  |  |  |  |  |  | Three months ended |  |  | Six months ended
in thousands |  |  |  |  |  |  | June 30, 2018 |  |  | June 30, 2018
Amortization of capitalized costs to obtain contracts |  |  |  |  |  | $ | 60 |  | $ | 125
Impairments of capitalized costs to obtain contracts |  |  |  |  |  | $ | - |  | $ | -

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