Annual report pursuant to Section 13 and 15(d)

Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations Disaggregation of Revenue

v3.22.4
Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations Disaggregation of Revenue
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations Disaggregation of Revenue
5.
Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations Disaggregation of Revenue

Revenue from subscription-based contracts was $57,082 and represented 71% of total revenue for the year ended December 31, 2022. Revenue from subscription-based contracts was $21,466, representing 49% of total revenue for the year ended December 31, 2021. Revenue from non-subscription-based contracts was $23,186 and represented 29% of total revenue for the year ended December 31, 2022. Revenue from non-subscription-based contracts was $21,909, representing 51% of total revenue for the year ended December 31, 2021.

The following revenue disaggregated by geography was recognized:

 

 

 

Year Ended
December 31, 2022

 

 

Year Ended
December 31, 2021

 

EMEA(1)

 

$

31,962

 

 

 

40

%

 

$

20,562

 

 

 

48

%

Americas (2)

 

 

36,734

 

 

 

46

%

 

 

15,719

 

 

 

36

%

Asia Pacific (3)

 

 

11,572

 

 

 

14

%

 

 

7,094

 

 

 

16

%

Total

 

$

80,268

 

 

 

100

%

 

$

43,375

 

 

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)
Netherlands represented 24% for the year ended December 31, 2021.
(2)
U.S. represented 35 % and 36% for the years ended December 31, 2022 and 2021, respectively, and Canada represented 10% for the year ended December 31, 2022.
(3)
Australia represented 11% for the year ended December 31, 2021.

Contract Assets

At December 31, 2022 and 2021, contract assets were $3,353 and $2,084, respectively, on the consolidated balance sheets. The increase in contract assets was primarily due to the increase in revenue.

Changes in contract assets were as follows:

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Balance at the beginning of the year

 

$

2,084

 

 

$

853

 

Contract assets recorded during the year

 

 

3,353

 

 

 

2,529

 

Reclassified to accounts receivable

 

 

(1,694

)

 

 

(1,298

)

Other

 

 

(390

)

 

 

—

 

Balance at the end of the year

 

$

3,353

 

 

$

2,084

 

Contract Liabilities

At December 31, 2022, contract liabilities were $16,628 of which $15,856 was reported in contract liabilities, current portion, and $772 was reported in other long-term liabilities on the Company’s consolidated balance sheets. At December 31, 2021, contract liabilities were $9,255, of which $8,627 was reported in contract liabilities, current portion, and $628 was reported in other long-term liabilities on the Company’s consolidated balance sheets. The increase in contract liabilities was primarily due to the increase in revenue.

Changes in contract liabilities were as follows:

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Balance at the beginning of the year

 

$

9,255

 

 

$

8,110

 

Contract liabilities recorded during the year

 

 

15,963

 

 

 

8,343

 

Revenue recognized during the year

 

 

(8,230

)

 

 

(6,950

)

Other

 

 

(360

)

 

 

(248

)

Balance at the end of the year

 

$

16,628

 

 

$

9,255

 

Remaining Performance Obligations

The Company has performance obligations associated with commitments in customer contracts for future services that have not yet been recognized as revenue. These commitments for future services exclude (i) contracts with an original term of one year or less, and (ii) cancellable contracts. As of December 31, 2022, the amount not yet recognized as revenue from these commitments was $167,164. The Company expects to recognize 39% of these future commitments over the next 12 months and the remaining 61% thereafter as revenue when the performance obligations are met.