|
The components of contract assets and contract liabilities consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
2022 |
|
2021 |
|
(in thousands) |
| Contract assets - current |
|
|
|
| Unbilled revenue |
$ |
5,651 |
|
|
$ |
788 |
|
| Contract assets |
264 |
|
|
890 |
|
| Total contract assets - current |
$ |
5,915 |
|
|
$ |
1,678 |
|
|
|
|
|
| Contract assets - long-term |
|
|
|
| Unbilled revenue - long-term |
$ |
1,116 |
|
|
$ |
— |
|
| Contract assets - long-term |
216 |
|
|
— |
|
Total contract assets - long-term(1)
|
$ |
1,332 |
|
|
$ |
— |
|
|
|
|
|
| Contract liabilities - current |
|
|
|
| Deferred revenue - short-term |
$ |
8,611 |
|
|
$ |
11,082 |
|
| Other contract liabilities |
407 |
|
|
184 |
|
| Total contract liabilities - current |
$ |
9,018 |
|
|
$ |
11,266 |
|
|
|
|
|
| Contract liabilities - long-term |
$ |
— |
|
|
$ |
— |
|
| Deferred revenue - long-term |
42 |
|
|
568 |
|
| Total contract liabilities - long-term |
$ |
42 |
|
|
$ |
568 |
|
Changes in short-term and long-term contract assets and contract liabilities for the nine months ended September 30, 2022 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Contract Assets |
|
Contract Liabilities |
|
(in thousands) |
| Balance on January 1, 2022 |
$ |
1,678 |
|
|
$ |
11,834 |
|
| Billings or revenue recognized that was included in the beginning balance |
(788) |
|
|
(9,152) |
|
| Changes in contract assets or contract liabilities, net of reclassification to receivables |
6,767 |
|
|
3,329 |
|
| Cumulative catch-up adjustment arising from changes in estimates to complete |
— |
|
|
2,536 |
|
| Cumulative catch-up adjustment arising from contract modification |
— |
|
|
290 |
|
| Changes in costs to fulfill and amortization of commission costs |
(410) |
|
|
— |
|
| Changes in contract commission costs |
— |
|
|
223 |
|
| Balance on September 30, 2022 |
$ |
7,247 |
|
|
$ |
9,060 |
|
|