Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Our platform revenue consists of SDK license subscriptions and application development services, as well as application transactions, which are comprised of in-app advertising and sales of our digital asset, PhunToken. Hardware revenue relates to the sale of high-performance personal computers. 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 31, 2023.
Disaggregation of Revenue
The following table sets forth our net revenues by category:

Three Months Ended March 31,
2023 2022
Platform revenue $ 1,345  $ 2,492 
Hardware revenue 3,402  4,286 
Net revenues $ 4,747  $ 6,778 
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 100% and 95% of our net revenues from within the United States for the three months ended March 31, 2023 and 2022, respectively.
Deferred Revenue
Our deferred revenue balance consisted of the following:
March 31, 2023 December 31, 2022
Current deferred revenue
Platform revenue $ 1,405  $ 1,531 
Hardware revenue 107  1,373 
Total current deferred revenue $ 1,512  $ 2,904 
Non-current deferred revenue
Platform revenue $ 1,072  $ 1,274 
Total non-current deferred revenue $ 1,072  $ 1,274 
Total deferred revenue $ 2,584  $ 4,178 
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 three months ended March 31, 2023, we recognized revenue of $2,133 that was included in our deferred revenue balance as of December 31, 2022.
Remaining Performance Obligations
Remaining performance obligations were $5,696 as of March 31, 2023, of which we expect to recognize approximately 42% as revenue over the next 12 months and the remainder thereafter.
In 2021, we announced the commencement of the selling of PhunToken. PhunToken is our innovative digital asset intended to be utilized within our token ecosystem, once developed, to help drive engagement by unlocking features and capabilities of our platform. We did not sell any PhunToken during three months ended March 31, 2023. During the three months ended March 31, 2022, we sold 115.8 million PhunToken for an aggregate of $973, for which we received both cash and digital assets from customers. Sales of PhunToken are recorded within platform revenue in the table above.
As of March 31, 2023 and December 31, 2022, total issued PhunToken were 377.2 million. Total supply of PhunToken is capped at 10 billion.