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REVENUES

12 Months Ended

Dec. 31, 2021

NOTE 16:-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 year ended December 31, 2021:

	Year ended December 31, 2020			Year ended December 31, 2021

Balance, beginning of the period	$	7,999		$	10,987
New performance obligations		5,210			6,329
Reclassification to revenue as a result of satisfying performance obligations		(2,222	)		(4,657	)

Balance, end of the period		10,987			12,659
Less: long-term portion of deferred revenue		7,495			9,275
Current portion, end of period	$	3,492		$	3,384

F - 44

CERAGON NETWORKS LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands (except share data)

NOTE 16:-REVENUES (Cont.)

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, 2021, which are expected to be satisfied and recognized in future periods:

		2022				2023				2024 and thereafter
Unsatisfied performance obligations			-				550				8,725

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.