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Revenue from Contracts with Customers | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | Note 3. Revenue from Contracts with Customers Disaggregation of Revenue The following table summarizes the Company’s product and service revenue disaggregated by geographic region, which is determined based on customer location, for the years ended December 31, 2023 and 2022:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
United States |  | $ | 25,262 |  |  | $ | 18,776 |
South Korea |  |  | 257 |  |  |  | 2,180 |
Europe |  |  | 5,585 |  |  |  | 4,409 |
Asia (excluding South Korea) |  |  | 3,836 |  |  |  | 3,576 |
Other |  |  | 776 |  |  |  | 502 |
Total 1 |  | $ | 35,716 |  |  | $ | 29,443 |
1 The table above does not include lease revenue of $6,448 and $5,915 for the years ended December 31, 2023 and 2022, respectively. Refer to Note 6, Leases. Contract Balances The following table provides information about receivables and contract liabilities from contracts with customers:
|  |  |  | As of December 31, |
|  | Classification |  | 2023 |  |  | 2022 |
Accounts receivable, current |  | Accounts receivable, net |  | $ | 4,001 |  |  | $ | 6,040 |
Notes receivable, current |  | Notes receivable, net |  | $ | 323 |  |  | $ | 200 |
Notes receivable, long-term |  | Notes and other receivables, long-term, net |  | $ | 1,279 |  |  | $ | 442 |
Contract asset, current |  | Prepaid and other current assets |  | $ | 982 |  |  | $ | 332 |
Deferred revenue, current |  | Deferred revenue |  | $ | 1,349 |  |  | $ | 768 |
Deferred revenue, non-current |  | Other long-term liabilities |  | $ | 350 |  |  | $ | 17 |
Contract liability, long-term |  | Other long-term liabilities |  | $ | 220 |  |  | $ | 150 |
Accounts Receivables, Net—Accounts receivables, net, include amounts billed and due from customers. The amounts due are stated at their net estimated realizable value and are classified as current or noncurrent based on the timing of when the Company expects to receive payment. Most customers are on pre-paid or 30-day payment terms, depending on the product purchased. The Company maintains an allowance for expected credit losses to provide for the estimated amount of receivables that will not be collected. The allowance is based upon an assessment of customer credit worthiness, historical payment experience, the age of outstanding receivables, collateral to the extent applicable and reflects the possible impact of current conditions and reasonable forecasts not already reflected in historical loss information. The following table summarizes the activity in the allowance for accounts receivable:
|  | Amount |
Accounts receivable, allowance for credit losses as of December 31, 2021 |  | $ | 47 |
Change in provision for credit losses |  |  | 26 |
Write-offs |  |  | (17 | )
Accounts receivable, allowance for credit losses as of December 31, 2022 |  |  | 56 |
Change in provision for credit losses |  |  | 6 |
Write-offs |  |  | — |
Accounts receivable, allowance for credit losses as of December 31, 2023 |  | $ | 62 |
Notes Receivables, Net—Notes receivable, net includes amounts billed and due from customers under extended payment terms with a significant financing component. Interest rates on notes receivable range from 5.8% to 7.8%. The Company recorded interest income on notes receivable during the years ended December 31, 2023 and 2022 of $85 and $17 in other income, net in the statements of operations. The following table summarizes the activity in the allowance for notes receivable:
|  | Amount |
Notes receivable, allowance for credit losses as of December 31, 2021 |  | $ | 63 |
Change in provision for credit losses |  |  | 10 |
Write-offs |  |  | (60 | )
Notes receivable, allowance for credit losses as of December 31, 2022 |  |  | 13 |
Change in provision for credit losses |  |  | 20 |
Write-offs |  |  | — |
Notes receivable, allowance for credit losses as of December 31, 2023 |  | $ | 33 |
Maturities of notes receivables, net under extended payment terms with a significant financing component as of December 31, 2023 are as follows:
Fiscal Year |  | Amount |
2024 |  |  | 432 |
2025 |  |  | 432 |
2026 |  |  | 432 |
2027 |  |  | 386 |
2028 |  |  | 185 |
Thereafter |  |  | 14 |
Total undiscounted cash flows |  |  | 1,881 |
Present value of notes receivable |  |  | 1,635 |
Difference between undiscounted and discounted cash flows |  | $ | 246 |
Contract Assets – The Company's contract assets represent revenue recognized for performance obligations completed before an unconditional right to payment exists, and therefore invoicing has not yet occurred. The Company classifies contract assets in Prepaid and other current assets in the Company's balance sheets. The following table provides information about contract assets from contracts with customers:
|  | Amount |
Contract assets at December 31, 2021 |  | $ | — |
Contract assets recognized |  |  | 355 |
Payments received |  |  | (23 | )
Contract assets at December 31, 2022 |  |  | 332 |
Contract assets recognized |  |  | 1,630 |
Payments received |  |  | (806 | )
Write-offs due to contract modifications |  |  | (174 | )
Contract assets at December 31, 2023 |  | $ | 982 |
Contract Liabilities—The Company’s contract liabilities represent services and products sold to customers for which the performance obligation has not been completed by the Company. The Company classifies contract liabilities as current or noncurrent based on the timing of when it expects to recognize revenue. The noncurrent portion of deferred revenue is included in other long-term liabilities in the Company’s balance sheets. The following table provides information about contract liabilities from contracts with customers:
|  | Amount |
Contract liabilities as of December 31, 2021 |  | $ | 970 |
Billings not yet recognized as revenue |  |  | 822 |
Beginning contract liabilities recognized as revenue |  |  | (857 | )
Contract liabilities at December 31, 2022 |  |  | 935 |
Billings not yet recognized as revenue |  |  | 1,847 |
Beginning contract liabilities recognized as revenue |  |  | (863 | )
Contract liabilities at December 31, 2023 |  | $ | 1,919 |
Transaction Price Allocated to Future Performance Obligations At December 31, 2023, the revenue expected to be recognized in future periods related to performance obligations that are unsatisfied for executed contracts with an original duration of one year or more was approximately $23,679. The Company expects to satisfy its remaining performance obligations over the next six years, with $8,374 to be satisfied in the next twelve months, $5,947 to be satisfied in the next two years, $4,203 to be satisfied in the next three years, $3,235 to be satisfied in the next four years, and $1,920 to be satisfied thereafter. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with original expected lengths of one year or less or (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for the products delivered or services performed. Costs to Obtain Contracts The following table provides information about the costs to obtain contracts associated with contracts with customers for the years ended December 31, 2023 and 2022:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Beginning balance |  | $ | 4 |  |  | $ | 43 |
Additions |  |  | 611 |  |  |  | 350 |
Amortization |  |  | (580 | ) |  |  | (389 | )
Ending balance |  | $ | 35 |  |  | $ | 4 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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