Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.10.0.1
Revenue Recognition (Tables)
9 Months Ended
Dec. 31, 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 as 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 December 31, 2018:
(in thousands)
As of December 31, 2018
 
As reported under ASC 606
 
Effect of Change Increase/ (Decrease)
 
Proforma under ASC 605
Assets:
 
 
 
 
 
Prepaid expenses and other current assets
$
1,169

 
$
(57
)
 
$
1,112

Liabilities:
 
 
 
 
 
Accrued expenses
2,854

 
(57
)
 
2,797

Deferred revenue
679

 
110

 
789

Deferred revenue non-current
514

 
137

 
651

 Stockholders' Equity:
 
 
 
 
 
Accumulated deficit
$
(332,652
)
 
$
(247
)
 
$
(332,899
)

The following table summarizes the impacts of adopting ASC 606 on the Company’s unaudited Condensed Consolidated Statement of Operations for the three and nine months ended December 31, 2018:
(in thousands)
For the three months ended December 31, 2018
 
For the nine months ended December 31, 2018
 
As reported under ASC 606
 
Effect of Change Increase/ (Decrease)
 
Proforma under ASC 605
 
As reported under ASC 606
 
Effect of Change Increase/ (Decrease)
 
Proforma under ASC 605
Revenue
$
10,722

 
$
27

 
$
10,749

 
$
33,865

 
$
82

 
$
33,947

Gross Profit
4,590

 
27

 
4,617

 
14,718

 
82

 
14,800

Net income (loss) from continuing operations
(1,556
)
 
27

 
(1,529
)
 
(3,198
)
 
82

 
(3,116
)
Net income (loss)
$
(1,556
)
 
$
27

 
$
(1,529
)
 
$
(3,336
)
 
$
82

 
$
(3,254
)

Disaggregation of Revenue [Table Text Block]
The following table disaggregates our revenue by major source:
(In thousands)
Three months ended December 31,
 
Nine months ended December 31,
 
2018 (under ASC 606)
 
2017 (under ASC 605)
 
2018 (under ASC 606)
 
2017 (under ASC 605)
Revenue:
 
 
 
 
 
 
 
    Products
$
9,400

 
$
11,476

 
$
30,230

 
$
41,873

    Software
408

 
278

 
982

 
1,523

    Services
914

 
1,921

 
2,653

 
4,085

Total revenue
$
10,722

 
$
13,675

 
$
33,865

 
$
47,481

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]
The following is the expected future revenue recognition timing of deferred revenue as of December 31, 2018:
(in thousands)
< 1 year
 
1-2 years
 
> 2 years
Deferred Revenue
$
679

 
$
283

 
$
231


During the nine months ended December 31, 2018, the Company recognized $1.6 million of revenue that was deferred as of the beginning of the period.