Quarterly report pursuant to Section 13 or 15(d)

REVENUE

v3.23.1
REVENUE
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
Contract Balances
Deferred revenue primarily relates to revenue that is recognized over time for IoT Connectivity monthly recurring charges, the changes in the 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 the period end for which control transfers to the customer upon delivery. The deferred revenue balance as of December 31, 2022, was recognized as revenue during the three months ended March 31, 2023.
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
(In thousands, USD) March 31,
2023 2022
IoT Connectivity*
 $ 43,244  $ 43,053 
Hardware Sales 16,444  19,012 
Hardware Sales—bill-and-hold 2,197  2,422 
Deployment services, professional services, referral services and other 4,090  4,491 
Total $ 65,975  $ 68,978 
*Includes connectivity-related revenues from IoT Connectivity services and IoT Solutions services
Significant Customer
The Company has one customer representing 13.3% and 17.8% of the Company’s total revenue for the three months ended March 31, 2023, and March 31, 2022, respectively.