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Note 5 - Revenue From Contracts With Customers | 9 Months Ended
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Oct. 31, 2021
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | 5. Revenue from Contracts with Customers The following table presents revenue from contracts with customers disaggregated by product line and timing of revenue recognition:
|  | Three Months Ended October 31, |  |  | Nine Months Ended October 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Revenue recognized at a point in time: |  | (in thousands) |
Seamap |  | $ | 6,876 |  |  | $ | 5,196 |  |  | $ | 15,045 |  |  | $ | 11,066 |
Klein |  |  | 1,328 |  |  |  | 1,150 |  |  |  | 3,884 |  |  |  | 3,152 |
Total revenue recognized at a point in time |  | $ | 8,204 |  |  | $ | 6,346 |  |  | $ | 18,929 |  |  | $ | 14,218 |
Revenue recognized over time: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Seamap |  | $ | 143 |  |  | $ | 195 |  |  | $ | 419 |  |  | $ | 596 |
Total revenue recognized over time |  |  | 143 |  |  |  | 195 |  |  |  | 419 |  |  |  | 596 |
Total revenue from contracts with customers |  | $ | 8,347 |  |  | $ | 6,541 |  |  | $ | 19,348 |  |  | $ | 14,814 |
The revenue from products manufactured and sold by our Seamap and Klein businesses is generally recognized at a point in time, or when the customer takes possession of the product, based on the terms and conditions stipulated in our contracts with customers. Our Seamap business also provides Software Maintenance Agreements (“SMA”) to customers who have an active license for software embedded in Seamap products. The revenue from SMA’s is recognized over time, with the total value of the SMA amortized in equal monthly amounts over the life of the contract, which is typically twelve months. The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers:
|  | Three Months Ended October 31, |  |  | Nine Months Ended October 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
United States |  | $ | 967 |  |  | $ | 282 |  |  | $ | 1,545 |  |  | $ | 2,068 |
Europe |  |  | 3,491 |  |  |  | 2,001 |  |  |  | 9,593 |  |  |  | 4,981 |
Middle East & Africa |  |  | 120 |  |  |  | 757 |  |  |  | 809 |  |  |  | 1,054 |
Asia-Pacific |  |  | 3,667 |  |  |  | 3,342 |  |  |  | 6,560 |  |  |  | 5,841 |
Canada & Latin America |  |  | 102 |  |  |  | 159 |  |  |  | 841 |  |  |  | 870 |
Total revenue from contracts with customers |  | $ | 8,347 |  |  | $ | 6,541 |  |  | $ | 19,348 |  |  | $ | 14,814 |
As of October 31, 2021, and January 31, 2021, contract assets and liabilities consisted of the following:
|  | October 31, 2021 |  |  | January 31, 2021 |
Contract Assets: |  | (in thousands) |
Unbilled revenue - current |  | $ | 57 |  |  | $ | 85 |
Total unbilled revenue |  | $ | 57 |  |  | $ | 85 |
Contract Liabilities: |  |  |  |  |  |  |  |
Deferred revenue & customer deposits - current |  | $ | 863 |  |  | $ | 691 |
Total deferred revenue & customer deposits |  | $ | 863 |  |  | $ | 691 |
Considering the products manufactured and sold by our Seamap and Klein businesses and the Company’s standard contract terms and conditions, we expect our contract assets and liabilities to turn over, on average, within a period of three to nine months. Pursuant to our accounting policies and procedures related to revenue from contracts with customers, sales and transaction-based taxes are excluded from revenue. Also, we do not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Additionally, we expense costs incurred to obtain contracts when incurred because the amortization period would have been one year or less. These costs are recorded in selling, general and administrative expenses.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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