|6 Months Ended|
Jun. 30, 2019
|Revenue Recognition [Abstract]|
Revenue by Service Line
During the three and six months ended June 30, 2019, the Company recognized capital equipment-related service revenue of $66,783 and $131,012, respectively, which was previously included in deferred revenue in the accompanying condensed consolidated balance sheet at December 31, 2018.
Under the terms of one customer contract, the Company is entitled to bill the customer for: (a) certain products the customer ordered and is committed to purchase but which are shipped at a future date; and (b) the achievement of certain milestones set forth in the contract. At June 30, 2019, such billings amounted to $75,000, which amount is included in each of accounts receivable and deferred revenue in the accompanying condensed consolidated balance sheet.
Remaining Performance Obligations
The Company’s contracts with customers, other than capital equipment-related service agreements discussed below, are predominantly of terms less than one year. Accordingly, the transaction price of remaining performance obligations related to such contracts at June 30, 2019 are not material.
Revenue with respect to remaining performance obligations related to capital equipment-related service agreements with original terms in excess of one year amounted to $481,598 at June 30, 2019. The Company expects to recognize this revenue within the next three years.
The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef