XML 26 R15.htm IDEA: XBRL DOCUMENT v3.21.2
REVENUE
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE

NOTE 9—REVENUE

 

The following table disaggregates the Company’s revenue for the three-and-nine-month periods ended September 30, 2021 and 2020 (in thousands):

 

   Hardware   Monitoring   Total 
Nine months ended September 30, 2021:               
PG Segment  $1,449   $2,834   $4,283 
CP Segment   543    196    739 
Total Revenue  $1,992   $3,030   $5,022 

 

   Hardware   Monitoring   Total 
Nine months ended September 30, 2020:               
PG Segment  $999   $2,634   $3,633 
CP Segment   501    189    690 
Total Revenue  $1,500   $2,823   $4,323 

 

   Hardware   Monitoring   Total 
Three months ended September 30, 2021:               
PG Segment  $507   $939   $1,446 
CP Segment   194    66    260 
Total Revenue  $701   $1,005   $1,706 

 

   Hardware   Monitoring   Total 
Three months ended September 30, 2020:               
PG Segment  $354   $908   $1,262 
CP Segment   193    62    255 
Total Revenue  $547   $970   $1,517 

 

 

Deferred revenue activity for the nine months ended September 30, 2021 can be seen in the table below (in thousands):

 

   Hardware   Monitoring   Total 
Balance at December 31, 2020  $2,576   $1,978   $4,554 
Additions during the period   1,777    3,182    4,959 
Recognized as revenue   (1,373)   (3,029)   (4,402)
Balance at September 30, 2021  $2,980   $2,131   $5,111 
                
Amounts to be recognized as revenue in the twelve-month-period ending:               
September 30, 2022  $1,583   $1,875   $3,458 
September 30, 2023   999    251    1,250 
September 30, 2024 and thereafter   398    5    403 
Total  $2,980   $2,131   $5,111 

 

Other revenue of approximately $620,000, is related to accessories, repairs, and other miscellaneous charges that are recognized to revenue when sold and are not deferred.

 

Deferred charges relate only to the sale of equipment. Deferred charges activity for the nine months ended September 30, 2021 can be seen in the table below (in thousands):

 

Balance at December 31, 2020  $1,306 
Additions, net of adjustments, during the period   797 
Recognized as cost of sales   (710)
Balance at September 30, 2021  $1,393 
      
Amounts to be recognized as cost of sales in the twelve-month-period ending:     
September 30, 2022  $756 
September 30, 2023   459*
September 30, 2024 and thereafter   178*
   $1,393 

 

  * Amounts included in other assets in the Company’s unaudited condensed consolidated balance sheets at September 30, 2021.

 

Other cost of goods sold (COGS) recognized of approximately $266,000 is related to accessories, repairs, and other miscellaneous charges that are recognized to revenue when sold and are not deferred, in addition to $372,000 in monitoring COGS which is not deferred.

 

The following table provides a reconciliation of the Company’s sales commissions contract assets for the nine-month period ended September 30, 2021 (in thousands):

 

   Hardware   Monitoring   Total 
Balance at December 31, 2020  $136   $41   $177 
Additions during the period   151    23    174 
Amortization of sales commissions   (75)   (16)   (91)
Balance at September 30, 2021  $212   $48   $260 

 

The capitalized sales commissions are included in other current assets (approximately $122,000) and other assets (approximately $138,000) in the Company’s unaudited condensed consolidated balance sheets at September 30, 2021. The capitalized sales commissions are included in other current assets (approximately $90,000) and other assets (approximately $87,000) in the Company’s consolidated balance sheets at December 31, 2020.