Post-effective amendment to a registration statement that is not immediately effective upon filing

Revenue

v3.22.1
Revenue
 12 Months Ended
Dec. 31, 2021
Revenue [Abstract]  
REVENUE

NOTE 4:-     REVENUE

Disaggregation of Revenues

Revenue disaggregated by geography for the years ended December 31, 2021 and 2020, based on the billing address of the Company’s customers, consists of the following (in thousands):

     

Year ended December 31,
   

2021

  

2020
   

Revenue

  

% of
Revenue

  

Revenue

  

% of
Revenue

Revenue by geography:

  

 

      

 

  

 

      

 

USA

  

$

63

  

2.8

%

  

$

105

  

31.6

%

Sweden

  

 

928

  

41.2

%

  

 

—

  

—

 

Germany

  

 

351

  

15.6

%

  

 

80

  

24.1

%

Israel

  

 

34

  

1.5

%

  

 

69

  

20.8

%

China

  

 

702

  

31.2

%

  

 

35

  

10.6

%

Switzerland

  

 

53

  

2.4

%

  

 

—

  

—

 

Hong Kong

  

 

35

  

1.6

%

  

 

34

  

10.2

%

Other

  

 

83

  

3.7

%

  

 

9

  

2.7

%

Total revenue

  

$

2,249

  

100

%

  

$

332

  

100

%

The Company had no revenue in the year ended December 31, 2019.

Out of the $281 deferred revenue balance as of December 31, 2020, $245 were recognized as revenue for the year ended December 31, 2021.

Contract Liabilities

Contract liabilities consist of deferred revenue and customer advanced payments. Deferred revenue includes billings in excess of revenue recognized related to product sales and is recognized as revenue when the Company performs under the contract. Customer advanced payments represent required customer payments in advance of product shipments according to customer’s payment term. Customer advance payments are recognized as revenue when control of the performance obligation is transferred to the customer.

Contract liabilities presented as deferred revenue amounted to $205 and $281 as of December 31, 2021 and 2020, respectively.

Remaining Performance Obligation

The Company’s remaining performance obligations are comprised of product and services revenue not yet performed. As of December 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $2.3 million, which the Company expects to recognize as revenue during 2022.