Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.24.2.u1
Revenue
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue

4. Revenue

 

Subscriptions and services revenue consist of platform license subscriptions and application development services. Application transaction revenue is comprised of in-app advertising. Refer to our revenue recognition policy under the subheading, Revenue Recognition, in Note 2, “Summary of Significant Accounting Policies,” in our Annual Report on Form 10-K filed with the SEC on March 15, 2024.

 

Disaggregation of Revenue

 

The following table sets forth our net revenues by category:

 

    2024     2023     2024     2023  
    Three Months Ended June 30,     Six Months Ended June 30,  
    2024     2023     2024     2023  
Subscriptions and services revenue   $ 516     $ 748     $ 970     $ 1,742  
Application transaction     495       547       962       898  
Net revenues   $ 1,011     $ 1,295     $ 1,932     $ 2,640  

 

The following table sets forth our concentration of revenue sources as a percentage of total net revenues:

 

    2024     2023     2024     2023  
    Three Months Ended June 30,     Six Months Ended June 30,  
    2024     2023     2024     2023  
Customer A     0 %     6 %     16 %     6 %
Customer C     3 %     3 %     4 %     16 %
Customer D     35 %     0 %     18 %     0 %
Customer F     12 %     15 %     13 %     12 %

 

We generate revenue in domestic and foreign regions and attribute net revenue to individual countries based on the location of the contracting entity. We derived over 99% of our net revenues from within the United States for the three and six months ended June 30, 2024 and 2023.

 

 

Deferred Revenue

 

Deferred revenue consists of customer billings or payments received in advance of the recognition of revenue under the arrangements with customers. We recognize deferred revenue as revenue only when revenue recognition criteria are met. During the six months ended June 30, 2024, we recognized revenue of $849 that was included in our deferred revenue balance as of December 31, 2023.

 

Remaining Performance Obligations

 

Remaining performance obligations were $5,189 as of June 30, 2024, of which we expect to recognize approximately 33% as revenue over the next 12 months and the remainder thereafter.