Quarterly report pursuant to Section 13 or 15(d)

Revenue Related Disclosures

v3.21.1
Revenue Related Disclosures
3 Months Ended
Mar. 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):

 

 

 

 

 

Three Months Ended

 

 

 

 

 

March 31, 2021

 

Balance at the beginning of period

 

 

 

$

24,578

 

   New billings

 

 

 

 

15,432

 

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

 

 

 

 

(10,103

)

   Revenue recognized during the year from new billings

 

 

 

 

(4,898

)

   Foreign currency impact

 

 

 

 

(1

)

Balance at end of period

 

 

 

$

25,008

 

 

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

 

Remainder of 2021

 

 

 

$

34,403

 

2022

 

 

 

 

11,174

 

2023

 

 

 

 

4,985

 

Thereafter

 

 

 

 

2,560

 

Total

 

 

 

$

53,122

 

 

The timing of revenue recognition includes estimates of go-live dates for contracts not yet live. Contractually committed revenue includes deferred revenue as of March 31, 2021 and amounts under contract that will be invoiced after March 31, 2021. 

During the three months ended March 31, 2021, the Company recognized revenues of $14.8 million from customers in the United States, and $0.2 million from customers in the Bahamas and South Africa. During the three months ended March 31, 2020, the Company recognized revenues of $10.3 million from customers in the United States and $0.2 million from customers in South Africa and the Bahamas.

During the three months ended March 31, 2021, the Company recognized revenues of $13.3 million from monthly subscription, maintenance and support services, and $1.7 million from professional software development services. During the three months ended March 31, 2020, all recognized revenues were from subscription, maintenance and support services.