Annual report pursuant to Section 13 and 15(d)

Revenue Related Disclosures

v3.22.4
Revenue Related Disclosures
 12 Months Ended
Dec. 31, 2022
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,

 

 

2022

 

 

2021

 

Beginning balance

$

26,709

 

 

$

24,578

 

   Deferred revenues acquired (Note 4 - Business Acquisitions)

 

5,382

 

 

 

—

 

   New billings

 

91,453

 

 

 

60,132

 

   Revenue recognized during the year from beginning balance

 

(31,180

)

 

 

(24,480

)

   Revenue recognized during the year from new billings

 

(48,643

)

 

 

(33,509

)

   Foreign currency impact

 

(1

)

 

 

(12

)

Ending balance

$

43,720

 

 

$

26,709

 

​

​

 

​

​

 

The following table presents remaining performance obligations for contractually committed revenues as of December 31, 2022 (in thousands):

2023

 

 

$

65,317

 

2024

 

 

 

35,368

 

2025

 

 

 

15,420

 

Thereafter

 

 

 

6,938

 

Total

 

 

$

123,043

 

 

 

 

 

 

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, 2022 and amounts under contract that will be invoiced after December 31, 2022.

During the year ended December 31, 2022, the Company recognized revenues of $80.2 million from customers in the United States, and $0.8 million from customers in South Africa and the Bahamas. 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, 2022 , the Company recognized revenues of $75.4 million from monthly subscription, maintenance and support services, and $5.6 million from professional software development services. 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.