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REVENUE RECOGNITION (Tables) | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation Revenue | The table below sets forth a summary of revenue by major service line:
| Three Months Ended March 31,
(in thousands) | 2024 |  | 2023
Services: |  |  |
IoT Connectivity (1) | $ | 56,661 |  |  | $ | 43,244 |
IoT Solutions | 2,979 |  |  | 4,090 |
| $ | 59,640 |  |  | $ | 47,334 |
Products: |  |  |
Hardware (2)(3) | $ | 16,335 |  |  | $ | 18,641 |
Total | $ | 75,975 |  |  | $ | 65,975 |
(1) Includes connectivity-related revenue from IoT Connectivity and IoT Solutions. (2) Includes hardware-related revenue from IoT Connectivity and IoT Solutions. (3) Includes $2.5 million and $2.2 million of bill-and-hold arrangements for the three months ended March 31, 2024 and 2023, respectively. The table below sets forth a summary of revenue by geographic area:
| Three Months Ended March 31,
(in thousands) | 2024 |  | 2023
United States | $ | 63,621 |  |  | $ | 50,050 |
Other countries | 12,354 |  |  | 15,925 |
Total | $ | 75,975 |  |  | $ | 65,975 |
Schedule of Change in Contract Assets and Liabilities | The following table sets forth the change in contract assets, or unbilled receivables:
(in thousands) | March 31, 2024 |  | December 31, 2023
Beginning balance | $ | 2,173 |  |  | $ | — |
Revenue recognized during the period but not billed (1) | 311 |  |  | 2,173 |
Amounts reclassified to accounts receivable | (261) |  |  | — |
Ending balance | $ | 2,223 |  |  | $ | 2,173 |
(1) Net of financing component of $0.4 million and $0.3 million as of March 31, 2024 and December 31, 2023, respectively. The table below sets forth the change in contract liabilities, or deferred revenue:
(in thousands) | March 31, 2024 |  | December 31, 2023
Beginning balance | $ | 9,044 |  |  | $ | 7,817 |
Amounts billed but not recognized as revenue | 7,907 |  |  | 9,041 |
Revenue recognized from balances held at the beginning of the period | (9,044) |  |  | (7,817) |
Foreign exchange | 34 |  |  | 3 |
Ending balance | $ | 7,941 |  |  | $ | 9,044 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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