Quarterly report pursuant to Section 13 or 15(d)

Contract Assets and Liabilities (Tables)

v3.23.1
Contract Assets and Liabilities (Tables)
3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Components of contract assets and contract liabilities
The components of contract assets and contract liabilities consisted of the following:
March 31, December 31,
2023 2022
(in thousands)
Contract assets - current:
Unbilled revenue $ 6,442  $ 5,706 
Total contract assets - current $ 6,442  $ 5,706 
Contract assets - long-term:
Unbilled revenue - long-term $ 920  $ 1,287 
Contract assets - long-term 903  681 
Total contract assets - long-term(1)
$ 1,823  $ 1,968 
Contract liabilities - current:
Deferred revenue - short-term $ 3,873  $ 6,783 
Total contract liabilities - current $ 3,873  $ 6,783 
Contract liabilities - long-term:
Other contract liabilities - long-term $ 68  $ 109 
Total contract liabilities - long-term $ 68  $ 109 
Changes in short-term and long-term contract assets and contract liabilities for the three months ended March 31, 2023 were as follows:
Contract Assets Contract Liabilities
(in thousands)
Balance on January 1, 2023 $ 7,674  $ 6,892 
Billings or revenue recognized that was included in the beginning balance (892) (3,707)
Changes in contract assets or contract liabilities, net of reclassification to receivables 1,261  354 
Cumulative catch-up adjustment arising from changes in estimates to complete —  444 
Cumulative catch-up adjustment arising from contract modification —  (1)
Changes in costs to fulfill and amortization of commission costs 222  — 
Changes in contract commission costs —  (41)
Balance on March 31, 2023 $ 8,265  $ 3,941