Annual report pursuant to Section 13 and 15(d)

Revenue

v3.22.1
Revenue
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following table sets forth our net revenues by category:

Year Ended December 31,
2021 2020
Net revenues
Platform subscriptions and services $ 5,308  $ 9,108 
Computer hardware 3,095  — 
Application transaction 2,240  893 
Net revenues $ 10,643  $ 10,001 
For the year ended December 31, 2021, we sold $1,063 of PhunToken for which we received both cash and digital assets from customers. Revenue from sales of PhunToken is recorded within application transaction revenue in the table above.
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 93% and 97% of our net revenues from within the United States for the years ended December 31, 2021 and 2020, respectively. Revenue by geographic location is as follows:

Year Ended December 31,
2021 2020
Net revenues
United States $ 9,939  $ 9,686 
International 704  315 
Net revenues $ 10,643  $ 10,001 
The following table sets forth our concentration of revenue sources as a percentage of total net revenues.

Year Ended December 31,
2021 2020
Customer D —  % 32  %
Customer E 7  % 12  %
Deferred Revenue
Our deferred revenue balance consisted of the following:

December 31,
2021 2020
Current deferred revenue
Computer hardware $ 2,149  $ — 
Platform subscriptions and services revenue 1,744  2,317 
Application transaction revenue 80  80 
Total current deferred revenue $ 3,973  $ 2,397 
Non-current deferred revenue
Platform subscriptions and services revenue $ 1,299  $ 2,678 
Total non-current deferred revenue $ 1,299  $ 2,678 
Total deferred revenue $ 5,272  $ 5,075 

Deferred revenue consists of customer billings or payments received in advance of the recognition of revenue under arrangements with customers. We recognize deferred revenue as revenue only when revenue recognition criteria are met. During the year ended December 31, 2021, we recognized revenue of $3,379 that was included in our deferred revenue balance as of December 31, 2020.
Remaining Performance Obligations
Remaining performance obligations were $8,588 as of December 31, 2021, of which we expect to recognize 54% as revenue over the next 12 months and the remainder thereafter.