v3.24.3
Deferred Revenue
 9 Months Ended
Sep. 30, 2024
Deferred Revenue Disclosure [Abstract]  
Deferred Revenue

Note 10. Deferred Revenue

Deferred revenue, comprising individually immaterial amounts for extended warranty, enhanced product maintenance and advance payments on nonrecurring engineering ("NRE") services contracts, represents contracted revenue that has not yet been recognized. We recognized $1.3 million of revenue related to amounts included in deferred revenue as of December 31, 2023 for the nine months ended September 30, 2024. We recognized $2.1 million of revenue related to amounts included in deferred revenue as of December 31, 2022 for the nine months ended September 30, 2023.

The following table presents the changes in deferred revenue for the indicated periods (in thousands):

 

Nine Months Ended September 30,

 

 

2024

 

 

2023

 

Balance at beginning of period

$

1,985

 

 

$

2,599

 

Opening balance from Voyantic acquisition

 

—

 

 

 

1,233

 

Deferral of revenue

 

2,457

 

 

 

2,477

 

Recognition of deferred revenue

 

(2,072

)

 

 

(3,557

)

Balance at end of period

$

2,370

 

 

$

2,752