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REVENUES
 6 Months Ended
Jun. 30, 2022
Revenues [Abstract]  
REVENUES

NOTE 8: 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 changes in deferred revenues balance during the six months ended June 30, 2022:

 

   

Six months

ended

June 30,

2022

  

 

        

Balance, beginning of the period

  

$

12,659

  

New unsatisfied performance obligations

    

3,307

  

Reclassification to revenue as a result of satisfying performance obligations

    

(2,004

)

 

        

Balance, end of the period

    

13,962

  

Less: long-term portion of deferred revenue

    

10,895

  

Current portion, end of period

  

$

3,067

  
 

 

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 June 30, 2022, which are expected to be satisfied and recognized in future periods:

 

   

Remaining 2022

 

 

2023

 

 

 2024 and

thereafter

  

Unsatisfied performance obligations

  

$

-

    

$

335

    

$

10,560

 

 

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.