v3.22.4
DEFERRED REVENUES
 12 Months Ended
Dec. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]  
DEFERRED REVENUES

NOTE 14: DEFERRED REVENUES

Deferred revenues consist of deferred cloud-based monitoring services, communication services, warranty extension services and advance payments received from customers for the Company’s products. Deferred revenues are classified as short-term and long-term deferred revenues based on the period in which revenues are expected to be recognized.

 

Significant changes in the balances of deferred revenues during the period are as follows:

 

   
December 31,
  
   
2022
    
2021
    
2020
  
Balance, at the beginning of the period
  
$
169,345
    
$
140,020
    
$
160,797
  
Revenue recognized
    
(23,017
)
    
(26,093
)
    
(72,046
)
Increase in deferred revenues and customer advances
    
67,249
      
55,418
      
51,269
  
Balance, at the end of the period
    
213,577
      
169,345
      
140,020
  
Less current portion
    
(26,641
)
    
(17,789
)
    
(24,648
)
Long term portion
  
$
186,936
    
$
151,556
    
$
115,372
  
 
The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 31, 2022:

2023

  

$

26,641

  

2024

    

10,891

  

2025

    

10,160

  

2026

    

9,691

  

2027

    

7,565

  

Thereafter

    

148,629

  

Total deferred revenues

  

$

213,577