Annual report pursuant to Section 13 and 15(d)

Revenue Related Disclosures

v3.22.1
Revenue Related Disclosures
 12 Months Ended
Dec. 31, 2021
Revenue From Contract With Customer [Abstract]  
Revenue Related Disclosures

Note 3. Revenue Related Disclosures

The changes in deferred revenue were as follows (in thousands):

 

 

Year Ended December 31,

 

 

2021

 

 

2020

 

Beginning balance

$

24,578

 

 

$

26,958

 

   New billings

 

60,132

 

 

 

42,499

 

   Revenue recognized during the year from beginning balance

 

(24,480

)

 

 

(18,944

)

   Revenue recognized during the year from new billings

 

(33,509

)

 

 

(25,947

)

   Foreign currency impact

 

(12

)

 

 

12

 

Ending balance

$

26,709

 

 

$

24,578

 

​

​

 

​

​

 

The following table presents remaining performance obligations for contractually committed revenues as of December 31, 2021 (in thousands):

 

2022

 

 

$

37,539

 

2023

 

 

 

25,081

 

2024

 

 

 

18,345

 

Thereafter

 

 

 

11,344

 

Total

 

 

$

92,309

 

 

 

 

 

 

The timing of revenue recognition included in the table above is based on estimates of go-live dates for contracts not yet live. Contractually committed revenue includes deferred revenue as of December 31, 2021 and amounts under contract that will be invoiced after December 31, 2021.

During the year ended December 31, 2021, the Company recognized revenues of $57.3 million from customers in the United States, and $0.9 million from customers in South Africa and the Bahamas. During the year ended December 31, 2020, the Company recognized revenues of $45.0 million from customers in the United States and $0.7 million from customers in South Africa and the Bahamas. During the year ended December 31, 2019 the Company

recognized revenues of $39.7 million from customers in the United States and $1.0 million from a customer in South Africa.

During the year ended December 31, 2021 , the Company recognized revenues of $54.7 million from monthly subscription, maintenance and support services, and $3.4 million from professional software development services. During the year ended December 31, 2020, the Company recognized revenues of $45.7 million from monthly subscription, maintenance and support services. During the year ended December 31, 2019 the Company recognized revenues of $40.8 million from monthly subscription, maintenance and support services.