| Components of contract assets and contract liabilities |
The components of contract assets and contract liabilities consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
2023 |
|
2022 |
|
(in thousands) |
| Contract assets - current: |
|
|
|
| Unbilled revenue |
$ |
9,944 |
|
|
$ |
5,706 |
|
|
|
|
|
| Total contract assets - current |
$ |
9,944 |
|
|
$ |
5,706 |
|
|
|
|
|
| Contract assets - long-term: |
|
|
|
| Unbilled revenue - long-term |
$ |
2,411 |
|
|
$ |
1,287 |
|
| Contract assets - long-term |
590 |
|
|
681 |
|
Total contract assets - long-term(1)
|
$ |
3,001 |
|
|
$ |
1,968 |
|
|
|
|
|
| Contract liabilities - current: |
|
|
|
| Deferred revenue - current |
$ |
6,621 |
|
|
$ |
6,783 |
|
|
|
|
|
| Total contract liabilities - current |
$ |
6,621 |
|
|
$ |
6,783 |
|
|
|
|
|
| Contract liabilities - long-term: |
|
|
|
|
|
|
|
| Other contract liabilities - long-term |
$ |
96 |
|
|
$ |
109 |
|
| Total contract liabilities - long-term |
$ |
96 |
|
|
$ |
109 |
|
Changes in short-term and long-term contract assets and contract liabilities for the nine months ended September 30, 2023 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Contract Assets |
|
Contract Liabilities |
|
(in thousands) |
| Balance as of January 1, 2023 |
$ |
7,674 |
|
|
$ |
6,892 |
|
| Billings or revenue recognized that was included in the beginning balance |
(2,955) |
|
|
(6,117) |
|
| Changes in contract assets or contract liabilities, net of reclassification to receivables |
8,617 |
|
|
5,757 |
|
| Cumulative catch-up adjustment arising from changes in estimates to complete |
(92) |
|
|
49 |
|
| Cumulative catch-up adjustment arising from contract modifications |
(208) |
|
|
149 |
|
| Changes in costs to fulfill and amortization of commission costs |
(91) |
|
|
— |
|
| Changes in contract commission costs |
— |
|
|
(13) |
|
| Balance as of September 30, 2023 |
$ |
12,945 |
|
|
$ |
6,717 |
|
|