|12 Months Ended|
Dec. 31, 2022
NOTE 4:- REVENUE
Disaggregation of Revenues
Revenue disaggregated by geography for the years ended December 31, 2022 and 2021, based on the billing address of the Company’s customers, consists of the following (in thousands):
The Company had revenue of $332 for the year ended December 31, 2020. In view of the level of revenue for 2020, geographical disaggregation is not applicable.
Out of the $726 deferred revenue balance as of December 31, 2021, $375 was recognized as revenue for the year ended December 31, 2022.
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 $351 and $726 as of December 31, 2022 and 2021, respectively.
Remaining Performance Obligation
The Company’s remaining performance obligations are comprised of product and services revenue not yet performed. As of December 31, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $232, which the Company expects to recognize as revenue during 2023.
The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef