Quarterly report pursuant to Section 13 or 15(d)

3. REVENUE RECOGNITION (Tables)

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3. REVENUE RECOGNITION (Tables)
3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue

The following table provides information about disaggregated revenue by timing of revenue recognition (in thousands):

                         
      Three Months ended March 31, 2022
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
Products transferred at a point in time   $                      -   $                 350   $                        -   $                 350
Product and services transferred over time                          -                          -                            -                          -
Total   $                      -   $                 350   $                        -   $                 350

                         
      Three Months ended March 31, 2021
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
Products transferred at a point in time   $              -   $                 479   $                       -   $              479
Product and services transferred over time                          -                          -                         -                       -
Total   $              -   $                 479   $                     -   $              479
Significant Changes in Contract Assets and Contract Liabilities

Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands, except percentages):

      March 31,     December 31,          
      2022     2021     $ Change   % Change
                       
Contract assets   $                        -   $                         -   $                  -                   -  
Contract liabilities                   (4,915)                   (5,265)              350             (6.6)
Net contract assets (liabilities)   $               (4,915)   $               (5,265)   $          350             (6.6)

 

In April 2017, we signed a contract with Microsoft Corporation to develop an LBS display system. Under the agreement, we received an upfront payment of $10.0 million. As of December 31, 2021, we had applied $4.7 million against the contract liability. During the three months ended March 31, 2022, we applied $350,000 against the contract liability with this customer.

Estimated Timing of Revenue Recognition

The following table provides information about the estimated timing of revenue recognition (in thousands):

      Remainder of 2022     2023
             
License and royalty revenue   $                          2,150   $                                      -