Quarterly report pursuant to Section 13 or 15(d)

3. REVENUE RECOGNITION (Tables)

v3.22.2
3. REVENUE RECOGNITION (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2022
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
Products transferred at a point in time   $    -   $        314   $      -   $        314
Product and services transferred over time        -        -          -        -
Total   $    -   $        314   $      -   $        314

                         
      Six Months ended June 30, 2022
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
Products transferred at a point in time   $    -   $        664   $      -   $        664
Product and services transferred over time        -        -          -        -
Total   $    -   $        664   $      -   $        664

                         
      Three Months ended June 30, 2021
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
Products transferred at a point in time   $     -   $        746   $     -   $     746
Product and services transferred over time        -        -       -     -
Total   $     -   $        746   $   -   $     746

                         
      Six Months ended June 30, 2021
            License and            
      Product     royalty     Contract      
      revenue     revenue     revenue     Total
Timing of revenue recognition:                        
Products transferred at a point in time   $  -   $  1,225   $  -   $  1,225
Product and services transferred over time        -        -       -     -
Total   $     -   $        1,225   $   -   $     1,225
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):

      June 30,     December 31,          
      2022     2021     $ Change   % Change
                       
Contract assets   $      -   $       -   $         -          -  
Contract liabilities          (4,601)          (5,265)     664    (12.6)
Net contract assets (liabilities)   $      (4,601)   $      (5,265)   $ 664    (12.6)

 

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 and six months ended June 30, 2022, we applied an additional $314,000 and $664,000, respectively, 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   $        864   $  1,939