| REVENUE RECOGNITION |
The following tables depict the disaggregation of revenue according to the type of good or service and timing of transfer of goods or services for the three and six months ended June 30, 2023 and June 30, 2022: | | | | | | | | | Three Months Ended June 30, | (In thousands) | | 2023 | | 2022 | Collaborative research, other professional services and related materials | | $ | 2,484 | | $ | 1,477 | Access to quantum computing systems | | | 843 | | | 657 | | | $ | 3,327 | | $ | 2,134 |
| | | | | | | | | | Six Months Ended June 30, | | (In thousands) | | 2023 | | 2022 | | Collaborative research, other professional services and related materials | | $ | 4,294 | | $ | 2,992 | | Access to quantum computing systems | | | 1,233 | | | 1,246 | | | | $ | 5,527 | | $ | 4,238 | |
| | | | | | | | | Three Months Ended June 30, | (In thousands) | | 2023 | | 2022 | Revenue recognized at a point in time | | $ | 336 | | $ | — | Revenue recognized over time | | | 2,991 | | | 2,134 | | | $ | 3,327 | | $ | 2,134 |
| | | | | | | | | Six Months Ended June 30, | (In thousands) | | 2023 | | 2022 | Revenue recognized at a point in time | | $ | 336 | | $ | — | Revenue recognized over time | | | 5,191 | | | 4,238 | | | $ | 5,527 | | $ | 4,238 |
Selected condensed consolidated balance sheet line items that reflect accounts receivable, contract assets and liabilities as of June 30, 2023 and December 31, 2022 were as follows: | | | | | | | | (In thousands) | | June 30, 2023 | | December 31, 2022 | | Trade receivables | | $ | 7,576 | | $ | 6,143 | | Unbilled receivables | | $ | 53 | | $ | 92 | | Deferred revenue | | $ | (833) | | $ | (961) | |
Changes in deferred revenue from contracts with customers were as follows: | | | | | | | | | | Six Months Ended June 30, | | (In thousands) | | 2023 | | 2022 | | Balance at beginning of period | | $ | (961) | | $ | (985) | | Deferral of revenue | | | (1,216) | | | (673) | | Recognition of deferred revenue | | | 1,344 | | | 550 | | Total deferred revenue at end of period | | $ | (833) | | $ | (1,108) | |
Amounts recognized as revenue from beginning contract liabilities in the three and six months ended June 30, 2023 totaled $0.1 million and $0.5 million, respectively. Amounts recognized as revenue from beginning contract liabilities in the three and six months ended June 30, 2022 totaled $0.1 million and $0.6 million, respectively. Remaining performance obligations represent the portion of the transaction price that has not yet been satisfied or achieved. As of June 30, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $5.4 million. The Company expects to recognize estimated revenues related to performance obligations that are unsatisfied (or partially satisfied) in the amounts of approximately $3.5 million during the remainder of the year ended December 31, 2023, and $1.9 million during the year ended December 31, 2024. The Company has not identified any costs that are incremental to the acquisition of customer contracts that would be capitalized as deferred costs on the balance sheet in accordance with ASC 340-40. Incremental costs incurred to fulfill the Company’s contracts that meet the capitalization criteria in ASC 340-40 have historically been immaterial. Accordingly, the Company has not capitalized any contract fulfillment costs as of June 30, 2023 and December 31, 2022.
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