Quarterly report pursuant to Section 13 or 15(d)

REVENUE RECOGNITION

v3.22.2.2
REVENUE RECOGNITION
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Recognition REVENUE RECOGNITION
Contract Balances
Deferred revenue primarily relates to revenue that is recognized over time for IoT Connectivity monthly recurring charges, the changes in balance of which are related to the satisfaction or partial satisfaction of these contracts. The balance also contains a deferral for goods that are in-transit at period end for which control transfers to the customer upon delivery. The deferred revenue balance as of December 31, 2021 was recognized as revenue during the three months ended March 31, 2022.
Disaggregated Revenue Information
The Company has presented the disaggregated disclosures below which are useful to understand the composition of the Company’s revenue during the respective reporting periods shown below:
Three Months Ended Nine Months Ended
(In thousands, USD) September 30, September 30,
2022 2021 2022 2021
IoT Connectivity*
 $ 42,911  $ 40,738  $ 129,714  $ 122,444 
Hardware Sales 16,807  19,221  56,747  40,602 
Hardware Sales—bill-and-hold 3,423  229  7,493  3,451 
Deployment services, professional services, and other 3,499  7,690  11,980  17,422 
Total $ 66,640  $ 67,878  $ 205,934  $ 183,919 
*Includes connectivity-related revenues from IoT Connectivity services and IoT Solutions services
Significant Customer
The Company has one customer representing 6.5% and 28.0% of the Company’s total revenue for the three months ended September 30, 2022 and September 30, 2021, respectively. The Company has one customer representing 12.0% and 21.0% of the Company’s total revenue for the nine months ended September 30, 2022 and September 30, 2021, respectively.