Quarterly report pursuant to Section 13 or 15(d)

REVENUE

v3.20.2
REVENUE
 3 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUEBased on how the Company manages its business, the Company has determined that it currently operates in one reportable segment. The Company operates in three geographic regions: (a) Americas; (b) Europe, Middle East and
Africa (“EMEA”); and (c) Asia Pacific (“APAC”). Revenue by geography is based on the location of the customer from which the revenue is earned.

In the following table, revenue is disaggregated by major product offering and geographies (in thousands):
  Three Months Ended
June 30, 2020
June 30, 20191
Americas2
   Primary storage systems $ 6,859    $ 9,418   
   Secondary storage systems 8,676    24,292   
   Device and media 6,362    8,671   
   Service 18,595    21,571   
Total revenue 40,492    63,952   
EMEA
   Primary storage systems 2,296    3,838   
   Secondary storage systems 6,616    9,897   
   Device and media 4,022    3,533   
   Service 9,815    9,223   
Total revenue 22,749    26,491   
APAC
   Primary storage systems 1,059    1,366   
   Secondary storage systems 3,200    3,523   
   Device and media 597    1,258   
   Service 1,976    2,587   
Total revenue 6,832    8,734   
Consolidated
   Primary storage systems 10,214    14,622   
   Secondary storage systems 18,492    37,712   
   Device and media 10,981    13,462   
   Service 30,386    33,381   
   Royalty3
3,232    6,454   
Total revenue $ 73,305    $ 105,631   

1 Primary and Secondary storage system revenue has been adjusted for June 30, 2019 due to certain reclassifications from Primary to Secondary storage systems.
2 Revenue for Americas geographic region outside of the United States is not significant.
3 Royalty revenue is not allocable to geographic regions.


Contract Balances

The following table presents the Company’s contract liabilities and certain information related to this balance as of and for the three months ended June 30, 2020 (in thousands): 
June 30, 2020
Contract liabilities (deferred revenue) $ 110,746   
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period 28,812   

Remaining Performance Obligations
Transaction price allocated to the remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and contractually agreed upon amounts, yet to be invoiced, that will be recognized as revenue in future periods. Remaining performance obligations are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, adjustments for revenue that have not materialized and foreign exchange adjustments. The Company applied the practical expedient in accordance within ASC 606, Revenue from Contracts with Customers (“ASC 606”), to exclude amounts for variable consideration constituting a sale- or usage-based royalty promised in exchange for a license of intellectual property from remaining performance obligations.

Remaining performance obligation consisted of the following (in thousands):
Current Non-Current Total
As of June 30, 2020 $ 89,965    $ 45,122    $ 135,087   

The Company expects to recognize approximately 67% of the remaining performance obligations within the next 12 months. The Company's non-current remaining performance obligations are expected to be recognized in the next 13 to 60 months.