Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

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.