NOTE 15:- REVENUES

The Company recognizes contract liabilities, or deferred revenues, when it receives advance payments from customers before performance obligations have been performed. The balance of deferred revenues approximates the aggregate amount of the transaction price allocated to the unsatisfied performance obligations at the end of reporting period.

The following table presents the significant changes in the deferred revenue balance during the twelve months ended December 31, 2019:


	Year ended December 31, 2018			Year ended December 31, 2019

Balance, beginning of the period	$	5,193		$	3,873
New performance obligations		12,746			11,195
Reclassification to revenue as a result of satisfying performance obligations		(14,066	)		(7,069	)

Balance, end of the period		3,873			7,999
Less: long-term portion of deferred revenue		-			6,265
Current portion, end of period	$	3,873		$	1,734

Remaining performance obligations represent contracted revenues that have not yet been recognized, which includes deferred revenues and non-cancelable contracts that will be recognized as revenue in future periods. The following table represents the remaining performance obligations as of December 31, 2019, which are expected to be satisfied and recognized in future periods:

		2020				2021				2022 and thereafter
Unsatisfied performance obligations		$	7,404			$	4,182			$	6,265

The Company elected to apply the optional exemption under ASC 606 paragraph 10-50-14(a) not to disclose the remaining performance obligations that relate to contracts with an original expected duration of one year or less for which deferred revenues have not been recorded yet.