Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.24.3
Revenue
 9 Months Ended
Sep. 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:

 

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Subscriptions and services revenue

 

$

464

 

 

$

697

 

 

$

1,434

 

 

$

2,439

 

Application transaction

 

201

 

 

555

 

 

 

1,163

 

 

 

1,453

 

Net revenues

 

$

665

 

 

$

1,252

 

 

$

2,597

 

 

$

3,892

 

 

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

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

2024

 

2023

 

2024

 

2023

Customer A

 

-%

 

12%

 

12%

 

8%

Customer C

 

5%

 

3%

 

4%

 

12%

Customer G

 

-%

 

-%

 

13%

 

-%

Customer H

 

13%

 

9%

 

7%

 

4%

Customer I

 

18%

 

16%

 

14%

 

14%

 

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 nine months ended September 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 nine months ended September 30, 2024, we recognized revenue of $1,149 that was included in our deferred revenue balance as of December 31, 2023.

Remaining Performance Obligations

Remaining performance obligations were $5,182 as of September 30, 2024, of which we expect to recognize approximately 33% as revenue over the next 12 months and the remainder thereafter.