Quarterly report [Sections 13 or 15(d)]

Revenue

v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue

4. Revenue

Software subscriptions and services revenue consist of software license subscriptions and application development and support services. Advertising 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 27, 2026.

Disaggregation of Revenue

The following table sets forth our net revenue by category:

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Software subscriptions and services

 

$

747

 

 

$

433

 

 

$

1,270

 

 

$

1,068

 

Advertising

 

52

 

 

22

 

 

 

71

 

 

 

75

 

Net revenue

 

$

799

 

 

$

455

 

 

$

1,341

 

 

$

1,143

 

 

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

 

 

 

Three months ended June 30,

 

Six months ended June 30,

 

 

2026

 

2025

 

2026

 

2025

Customer F

 

13%

 

28%

 

16%

 

32%

Customer G

 

31%

 

-%

 

21%

 

-%

Customer H

 

6%

 

11%

 

7%

 

9%

 

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 99% and 98% of our net revenue from within the United States for the three and six months ended June 30, 2026, respectively, and 98% of our net revenue from within the United States for both the three and six months ended June 30, 2025.

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, 2026, we recognized revenue of $1.0 million that was included in our deferred revenue balance as of December 31, 2025.

Remaining Performance Obligations

Remaining performance obligations were $3.2 million as of June 30, 2026, of which we expect to recognize approximately 59% as revenue over the next 12 months and the remainder thereafter.