v3.22.2.2
Revenue and Deferred Revenue
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue and Deferred Revenue

3. Revenue and Deferred Revenue

Disaggregation of Revenue

Revenue by source consists of the following (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Consoles

 

$

14,950

 

 

$

15,423

 

 

$

46,229

 

 

$

47,046

 

Consumables

 

 

6,789

 

 

 

6,401

 

 

 

20,795

 

 

 

13,616

 

Total product revenue

 

 

21,739

 

 

 

21,824

 

 

 

67,024

 

 

 

60,662

 

Service and other revenue

 

 

6,022

 

 

 

4,494

 

 

 

16,344

 

 

 

13,788

 

Total revenue

 

$

27,761

 

 

$

26,318

 

 

$

83,368

 

 

$

74,450

 

 

For the three and nine months ended September 30, 2022, $0.6 million and $1.9 million of consoles revenue were from console operating lease arrangements, compared to $1.3 million and $3.9 million for the three and nine months ended September 30, 2021.

Remaining Performance Obligations and Contract Liabilities

As of September 30, 2022, the aggregate amount of the transaction price allocated to the remaining performance obligations related to customer service contracts that are unsatisfied or partially unsatisfied was $7.9 million, which is recorded as deferred revenue on the Company’s condensed balance sheets. Of that amount, $7.8 million will be recognized as revenue during the next 12 months and $0.1 million thereafter.

The contract liabilities consist of deferred revenue which represents payments received in advance of revenue recognition. Revenue under these agreements is recognized over the related service period. During the three and nine months ended September 30, 2022, the Company recognized $1.5 million and $5.8 million of previously deferred revenue.