Post-effective amendment to a registration statement that is not immediately effective upon filing

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

v3.22.1
Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations Disaggregation of Revenue
 12 Months Ended
Dec. 31, 2021
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 $20,356 and represented 47% of total revenue for the year ended December 31, 2021. Revenue from subscription-based contracts was $7,677, representing 27% of total revenue for the year ended December 31, 2020. Revenue from
non-subscription-based
contracts was $23,019 and represented 53% of total revenue for the year ended December 31, 2021. Revenue from
non-subscription-based
contracts was $20,813, representing 73% of total revenue for the year ended December 31, 2020.
The following revenue disaggregated by geography was recognized:
 
    
Year Ended
December 31, 2021
    
Year Ended
December 31, 2020
  
EMEA
(1)
    $ 20,562        48 %    $ 14,213        50 % 
Americas
(2)
      15,719        36 %      10,759        38 % 
Asia Pacific
(3)
      7,094        16 %      3,518        12 % 
    
 
 
     
 
 
    
 
 
     
 
 
  
Total
    $ 43,375        100 %    $ 28,490        100 % 
    
 
 
     
 
 
    
 
 
     
 
 
  
 
(1)
Netherlands represented 24% and 37% for the years ended December 31, 2021 and 2020, respectively.
(2)
U.S. represented 36% and 38% for the years ended December 31 2021 and 2020, respectively.
(3)
Australia represented 11% and 9% for the years ended December 31, 2021 and 2020, respectively.
Contract Assets
The increase in contract assets is due to the acquisition of exactEarth. At December 31, 2021 and 2020, Contract assets were $2,084 and $853, respectively, on the Consolidated Balance Sheets. Changes in Contract assets were as follows:
 
    
December 31,
  
    
2021
     
2020
  
Balance at the beginning of the year
    $ 853      $ 493  
Contract assets recorded during the year
      2,529        1,577  
Reclassified to Accounts receivable
      (1,298 )       (1,217 ) 
    
 
 
     
 
 
  
Balance at the end of the year
    $ 2,084      $ 853  
    
 
 
     
 
 
  
Contract Liabilities
At December 31, 2021, Contract liabilities were $9,255 of which $8,627 is reported in current portion of Contract liabilities and $628 is reported in
non-current
potion in Other long-term liabilities on the Company’s Consolidated Balance Sheets. At December 31, 2020, Contract liabilities were $8,110 and is reported in current portion of Contract liabilities on the Consolidated Balance Sheets.
Changes in Contract liabilities were as follows:
 
    
December 31,
  
    
2021
     
2020
  
Balance at the beginning of the year
    $ 8,110      $ 4,550  
Contract liabilities recorded during the year
      8,343        7,759  
Revenue recognized during the year
      (6,950 )       (4,199 ) 
Other
      (248 )       —    
    
 
 
     
 
 
  
Balance at the end of the year
    $ 9,255      $ 8,110  
    
 
 
     
 
 
  
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, 2021, the amount not yet recognized as revenue from these commitments is $83,171. The Company expects to recognize 53% of these future commitments over the next 12 months and the remaining 47% thereafter as revenue when the performance obligations are met.