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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2019
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 (in thousands)
|  |  | Twelve months ended December 31,
|  | 2019 |  | 2018 |  |  | 2017*
Hardware products |  | $ | 127,005 |  | $ | 105,560 |  | $ | 105,867
Software licenses |  |  | 57,168 |  |  | 47,417 |  |  | 41,390
Subscription |  |  | 22,250 |  |  | 15,426 |  |  | 10,296
Professional services |  |  | 5,759 |  |  | 5,743 |  |  | 4,891
Maintenance, support and other |  |  | 42,388 |  |  | 38,134 |  |  | 30,847
Total Revenue |  | $ | 254,570 |  | $ | 212,280 |  | $ | 193,291
Revenue by location of customer for the years ended December 31, 2019, 2018, and 2017 (in thousands)
|  | EMEA |  | Americas |  | APAC |  | Total |
Total Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |
2019 |  | $ | 147,027 |  | $ | 61,577 |  | $ | 45,966 |  | $ | 254,570 |
2018 |  | $ | 103,293 |  | $ | 54,979 |  | $ | 54,008 |  | $ | 212,280 |
2017* |  | $ | 92,859 |  | $ | 52,981 |  | $ | 47,451 |  | $ | 193,291 |
Percent of Total: |  |  |  |  |  |  |  |  |  |  |  |  |
2019 |  |  | 58 | % |  | 24 | % |  | 18 | % |  | 100 | %
2018 |  |  | 49 | % |  | 26 | % |  | 25 | % |  | 100 | %
2017* |  |  | 48 | % |  | 27 | % |  | 25 | % |  | 100 | %
*Amounts for the year ended December 31, 2017 are presented under ASC 605 and ASC 985-605. Timing of revenue recognition (in thousands)
|  | Year ended December 31,
|  | 2019 |  | 2018
Products and Licenses transferred at a point in time |  | $ | 184,173 |  | $ | 152,977
Services transferred over time |  |  | 70,397 |  |  | 59,303
Total Revenue |  | $ | 254,570 |  | $ | 212,280
Schedule of changes in contract assets and contract liabilities |
|  |  | December 31,
|  | 2019 |  | 2018
Receivables, inclusive of trade and unbilled |  | $ | 62,405 |  | $ | 59,631
Contract Assets (current and non-current) |  | $ | 10,623 |  | $ | 11,278
Contract Liabilities (Deferred Revenue current and non-current) |  | $ | 45,597 |  | $ | 44,305
Schedule of estimated revenue expected to be recognized in the future |
in thousands |  | 2020 |  | 2021 |  | 2022 |  | Beyond 2022 |  | Total
Future revenue related to current unsatisfied performance obligations |  | $ | 11,295 |  | $ | 7,682 |  | $ | 5,951 |  | $ | 10,986 |  | $ | 35,914
Schedule related to the capitalized costs and amortization |
in thousands |  |  |  | December 31, 2019 |  |  | December 31, 2018
Capitalized costs to obtain contracts, current |  |  | $ | 676 |  | $ | 413
Capitalized costs to obtain contracts, non-current |  |  | $ | 3,222 |  | $ | 2,150
|  |  |  | Year ended December 31, |
in thousands |  |  |  | 2019 |  |  | 2018 |
Amortization of capitalized costs to obtain contracts |  |  | $ | 495 |  | $ | 283 |
Impairments of capitalized costs to obtain contracts |  |  | $ | - |  | $ | - |
Summary of impacts of adopting Topic 606 on the Company's consolidated financial statements |
| December 31, 2018
| As Reported |  | Adjustments |  | Balances without the adoption of Topic 606
ASSETS |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |
Accounts receivable, net of allowance | $ | 59,631 |  | $ | (331) |  | $ | 59,300
Contract asset |  | 7,962 |  |  | (7,962) |  |  | —
Other current assets |  | 5,705 |  |  | (703) |  |  | 5,002
Total current assets |  | 191,956 |  |  | (8,996) |  |  | 182,960
Deferred income taxes |  | 5,601 |  |  | 587 |  |  | 6,188
Contract asset - non-current |  | 3,316 |  |  | (3,316) |  |  | —
Other assets |  | 8,400 |  |  | (289) |  |  | 8,111
Total assets | $ | 352,826 |  | $ | (12,014) |  | $ | 340,812
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |
Deferred revenue | $ | 33,633 |  | $ | 3,019 |  | $ | 36,652
Short-term income taxes payable |  | 6,905 |  |  | (1,209) |  |  | 5,696
Other accrued expenses |  | 9,323 |  |  | (116) |  |  | 9,207
Total current liabilities |  | 72,357 |  |  | 1,694 |  |  | 74,051
Deferred revenue - non-current |  | 10,672 |  |  | 3,391 |  |  | 14,063
Deferred income taxes |  | 2,661 |  |  | (424) |  |  | 2,237
Total liabilities |  | 100,385 |  |  | 4,661 |  |  | 105,046
Stockholders' equity |  |  |  |  |  |  |  |
Accumulated income |  | 172,378 |  |  | (16,675) |  |  | 155,703
Total stockholders' equity |  | 252,441 |  |  | (16,675) |  |  | 235,766
Total liabilities and stockholders' equity | $ | 352,826 |  | $ | (12,014) |  | $ | 340,812
Statement of Operations (in thousands)
|  | Year ended December 31, 2018
|  | As Reported |  | Adjustments |  | Balances without the adoption of Topic 606
Revenue |  |  |  |  |  |  |  |  |
Product and license |  | $ | 152,977 |  | $ | 2,365 |  | $ | 155,342
Services and other |  |  | 59,303 |  |  | (5,772) |  |  | 53,531
Total revenue |  |  | 212,280 |  |  | (3,407) |  |  | 208,873
Cost of goods sold |  |  |  |  |  |  |  |  |
Product and license |  |  | 50,706 |  |  | 605 |  |  | 51,311
Services and other |  |  | 14,107 |  |  | — |  |  | 14,107
Total Cost of goods sold |  |  | 64,813 |  |  | 605 |  |  | 65,418
Gross profit |  |  | 147,467 |  |  | (4,012) |  |  | 143,455
Operating Costs |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | 63,805 |  |  | 1,108 |  |  | 64,913
Total operating costs |  |  | 147,443 |  |  | 1,108 |  |  | 148,551
Operating income (loss) |  |  | 24 |  |  | (5,120) |  |  | (5,096)
Income (loss) before taxes |  |  | 3,553 |  |  | (5,120) |  |  | (1,567)
Provision (benefit) for income taxes |  |  | (293) |  |  | (365) |  |  | (658)
Net income (loss) |  | $ | 3,846 |  | $ | (4,755) |  | $ | (909)
Basic EPS |  | $ | 0.10 |  |  |  |  | $ | (0.02)
Diluted EPS |  | $ | 0.10 |  |  |  |  | $ | (0.02)

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