XML 21 R10.htm IDEA: XBRL DOCUMENT v3.24.3
Revenue
 9 Months Ended
Sep. 30, 2024
Revenue [Abstract]  
Revenue
3. Revenue

We account for revenue in accordance with Financial Accounting Standards Codification (“ASC”) Topic 606: Revenue from Contracts with Customers.

Disaggregation of revenue

The following tables disaggregate our revenue by market type, as we believe this best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.  Sales and usage-based taxes are excluded from revenues.

   
Three Months Ended
  
 
September 30,
  
   
2024
    
2023
  
   
(In thousands)
  
   
United States
    
International
    
Total
    
United States
    
International
    
Total
  
Food service technology
  
$
3,982
    
$
339
    
$
4,321
    
$
4,049
    
$
192
    
$
4,241
  
POS automation
    
1,148
      
–
      
1,148
      
1,575
      
69
      
1,644
  
Casino and gaming
    
2,757
      
1,777
      
4,534
      
5,411
      
3,608
      
9,019
  
Transact Services Group
    
707
      
157
      
864
      
2,087
      
199
      
2,286
  
Total net sales
  
$
8,594
    
$
2,273
    
$
10,867
    
$
13,122
    
$
4,068
    
$
17,190
  

   
Nine Months Ended
  
 
September 30,
  
   
2024
    
2023
  
   
(In thousands)
  
   
United States
    
International
    
Total
    
United States
    
International
    
Total
  
Food service technology
   $ 10,784     $ 1,015     $ 11,799     $ 10,937     $ 657     $ 11,594  
POS automation
     2,950       –       2,950       5,261       84       5,345  
Casino and gaming
     9,173       6,416       15,589       26,455       10,547       37,002  
TransAct Services Group
     2,271       544       2,815       4,791       634       5,425  
Total net sales
   $ 25,178     $ 7,975     $ 33,153     $ 47,444     $ 11,922     $ 59,366  

Contract balances

Contract assets consist of unbilled receivables.  Pursuant to the over-time revenue recognition model, revenue may be recognized prior to the customer being invoiced.  An unbilled receivable is recorded to reflect revenue that is recognized when such revenue exceeds the amount invoiced to the customer. Unbilled receivables are separated into current and non-current assets and included within “Accounts receivable, net” and “Other assets” in the Condensed Consolidated Balance Sheets.

Contract liabilities consist of customer pre-payments and deferred revenue.  Customer prepayments are reported as “Accrued liabilities” in current liabilities in the Condensed Consolidated Balance Sheets and represent customer payments made in advance of performance obligations in instances where credit has not been extended and are recognized as revenue when the performance obligation is complete.  Deferred revenue is reported separately in current liabilities and non-current liabilities and consists of our extended warranty contracts, technical support for our food service technology terminals, EPICENTRAL maintenance contracts and prepaid software subscriptions for our BOHA! software applications and is recognized as revenue as (or when) we perform under the contract.  For the nine months ended September 30, 2024, we recognized revenue of $0.9 million related to our contract liabilities at December 31, 2023. Total net contract liabilities consisted of the following:

 
September 30, 2024
    
December 31, 2023
  
   
(In thousands)
  
Unbilled receivables, current
  
$
138
    
$
145
  
Unbilled receivables, net of current portion
    
45
      
120
  
Customer pre-payments
    
(19
)
    
(155
)
Deferred revenue, current
    
(926
)
    
(1,079
)
Deferred revenue, net of current portion
    
(240
)
    
(209
)
Total net contract liabilities
  
$
(1,002
)
  
$
(1,178
)

Remaining performance obligations

Remaining performance obligations represent the transaction price of firm orders for which a good or service has not been delivered to our customer.  As of September 30, 2024, the aggregate amount of transaction prices allocated to remaining performance obligations was $3.0 million.  The Company expects to recognize revenue of $2.7 million of its remaining performance obligations within the next 12 months following September 30, 2024, $0.2 million within the next 24 months following September 30, 2024 and the balance of these remaining performance obligations recognized within the next 36 months following September 30, 2024.