Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.10.0.1
Revenue Recognition (Tables)
 3 Months Ended
Jun. 30, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
Financial Statement Impact of Adopting ASC 606

The following table summarizes the changes made to the Company's unaudited Condensed Consolidated Balance Sheets of March 31, 2018 for the adoption of ASC 606:
(in thousands)
As reported March 31, 2018
 
Adjustments due to ASC 606
 
Adjusted as of April 1, 2018
Assets:
 
 
 
 
 
Prepaid expenses and other current assets
816

 
72

 
888

Liabilities:
 
 
 
 
 
Accrued expenses
3,328

 
72

 
3,400

Deferred revenue
1,790

 
(110
)
 
1,680

Deferred revenue non-current
846

 
(219
)
 
627

 Stockholders' Equity:
 
 
 
 
 
Accumulated deficit
(329,645
)
 
329

 
(329,316
)

The following table summarizes the impacts of adopting ASC 606 on the Company’s unaudited Condensed Consolidated Balance Sheets as of June 30, 2018:
(in thousands)
As of June 30, 2018
 
As reported under ASC 606
 
Effect of Change Increase/ (Decrease)
 
Proforma under ASC 605
Assets:
 
 
 
 
 
Prepaid expenses and other current assets
1,283

 
(73
)
 
1,210

Liabilities:
 
 
 
 
 
Accrued expenses
3,053

 
(73
)
 
2,980

Deferred revenue
1,516

 
110

 
1,626

Deferred revenue non-current
599

 
192

 
791

 Stockholders' Equity:
 
 
 
 
 
Accumulated deficit
(329,355
)
 
(302
)
 
(329,657
)

The following table summarizes the impacts of adopting ASC 606 on the Company’s unaudited Condensed Consolidated Statement of Operations for the three months ended June 30, 2018:
(in thousands)
For the three months ended June 30, 2018
 
As reported under ASC 606
 
Effect of Change Increase/ (Decrease)
 
Proforma under ASC 605
Revenue
$
13,037

 
27

 
13,064

Gross Profit
5,935

 
27

 
5,962

Net income (loss)
$
(39
)
 
27

 
(12
)

Disaggregation of Revenue [Table Text Block]
The following table disaggregated our revenue by major source:
(In thousands)
Three months ended June 30,
 
2018 (under ASC 606)
 
2017 (under ASC 605)
Revenue:
 
 
 
    Products
$
11,789

 
$
14,784

    Software
416

 
761

    Services
832

 
1,029

Total revenue
$
13,037

 
$
16,574

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]
The following is the expected future revenue recognition timing of deferred revenue:
 
< 1 year
 
1-2 years
 
> 2 years
Deferred Revenue
1,516

 
304

 
295


During the three months ended June 30, 2018, the Company recognized $0.5 million of revenue that was deferred as of the beginning of the period.