Annual report pursuant to Section 13 and 15(d)

Revenue Related Disclosures

v3.21.1
Revenue Related Disclosures
12 Months Ended
Dec. 31, 2020
Revenue From Contract With Customer [Abstract]  
Revenue Related Disclosures

 

Note 3. Revenue Related Disclosures

Changes in deferred revenue were as follows (in thousands):

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

Balance at the beginning of the year

 

$

26,958

 

 

$

24,161

 

   New billings

 

 

42,499

 

 

 

43,080

 

   Revenue recognized during the year from balance at the beginning of the year

 

 

(18,944

)

 

 

(17,198

)

   Revenue recognized during the year from new billings

 

 

(25,947

)

 

 

(23,092

)

   Foreign currency impact

 

 

12

 

 

 

7

 

Balance at the end of the year

 

$

24,578

 

 

$

26,958

 

 

The following table presents remaining performance obligations for contractually committed revenues as of December 31, 2020 (in thousands):

 

2021

 

$

41,967

 

2022

 

 

10,493

 

2023

 

 

3,522

 

Thereafter

 

 

1,371

 

Total

 

$

57,353

 

 

 

 

 

 

 

The timing of revenue recognition includes estimates of go-live dates for contracts not yet live. Contractually committed revenue includes deferred revenue as of December 31, 2020 and amounts under contract that will be invoiced after December 31, 2020.  

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, 2018, the Company recognized revenues of $33.9 million from customers in the United States and $0.9 million from a customer in South Africa.