Revenue Recognition (Tables)
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6 Months Ended |
Jun. 30, 2023 |
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| Revenue Recognition and Deferred Revenue [Abstract] |
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| Schedule of performance obligations |
The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of June 30, 2023.
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Less than 1 year |
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Greater than 1 year |
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Total |
| Product revenue |
$ |
3,050 |
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$ |
— |
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$ |
3,050 |
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| Subscription revenue |
42,140 |
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|
92,099 |
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|
134,239 |
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| Service revenue |
17,883 |
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|
43,124 |
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|
61,007 |
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| Total revenue |
$ |
63,073 |
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$ |
135,223 |
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$ |
198,296 |
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| Schedule of minimum future payments on noncancelable leases |
As of June 30, 2023, future minimum payments on noncancelable leases are as follows (in thousands):
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| Year Ending December 31: |
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| 2023 (six months remaining) |
$ |
21,253 |
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| 2024 |
41,340 |
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| 2025 |
37,364 |
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| 2026 |
26,748 |
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| 2027 |
7,511 |
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| Thereafter |
23 |
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$ |
134,239 |
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| Summary of rollforward of deferred revenue |
The following table provides a rollforward of deferred revenue (in thousands):
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| Balance at December 31, 2022 |
$ |
35,968 |
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| Revenue recognized in relation to the beginning of the year contract liability balance |
(12,140) |
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| Revenue deferred |
36,253 |
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| Balance at June 30, 2023 |
$ |
60,081 |
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| Schedule of components of lease revenue |
The following table presents the Company’s components of lease revenue (in thousands):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Revenue from sales-type leases |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
1,106 |
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| Interest income on lease receivables |
51 |
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|
61 |
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|
104 |
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|
110 |
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| Lease income - operating leases |
7,964 |
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|
4,006 |
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|
14,430 |
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|
7,010 |
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| Total lease revenue |
$ |
8,015 |
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$ |
4,067 |
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$ |
14,534 |
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$ |
8,226 |
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| Summary of company's revenue by revenue stream |
The following table presents the Company’s revenue by revenue stream (in thousands):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Product revenue |
$ |
7,243 |
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$ |
4,146 |
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$ |
15,997 |
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$ |
9,340 |
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| Leased equipment |
7,964 |
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4,006 |
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14,430 |
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7,010 |
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| SaaS, maintenance, and other revenue |
4,121 |
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729 |
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6,899 |
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|
1,097 |
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| Professional services |
497 |
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|
189 |
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|
1,080 |
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|
333 |
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| Total revenue |
$ |
19,825 |
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$ |
9,070 |
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$ |
38,406 |
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$ |
17,780 |
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