The Company adopted ASU No. 2014-09, Topic 606 in January 2018 and accordingly, the amount of revenue that the Company recognizes reflects the consideration it expects to receive in exchange for goods or services and such revenue is recognized at the time when goods or services are transferred and/or delivered to its customers. The Company recognizes revenue when it satisfies a performance obligation by transferring the product or service to the customer, either at a point in time or over time. The Company usually recognizes revenue from integration service agreements at a point in time and integration license service agreements over a period of time.

The following table provides information about disaggregated revenue by primary geographical markets and timing of revenue recognition for the years ended December 31, 2019 and 2018 (in thousands):

Deferred Revenue:

The Company records deferred revenue for customers that were issued invoices, but the Company has not yet recognized the revenue based on its revenue recognition policy. During the year ended December 31, 2019, the Company recognized approximately $55,000 of revenue that was included in deferred revenue as of December 31, 2018.  As of December 31, 2019, the Company has approximately $37,000 of deferred revenue it expects to recognize in the first quarter of 2020