Quarterly report [Sections 13 or 15(d)]

Revenue

v3.25.2
Revenue
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue

4. Revenue

Software subscriptions and services revenue consist of platform license subscriptions and application development 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 31, 2025.

Disaggregation of Revenue

The following table sets forth our net revenues by category:

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Software subscriptions and services

 

$

433

 

 

$

516

 

 

$

1,068

 

 

$

970

 

Advertising

 

22

 

 

495

 

 

 

75

 

 

 

962

 

Net revenues

 

$

455

 

 

$

1,011

 

 

$

1,143

 

 

$

1,932

 

 

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

 

 

 

Three months ended June 30,

 

Six months ended June 30,

 

 

2025

 

2024

 

2025

 

2024

Customer B

 

28%

 

12%

 

32%

 

13%

Customer F

 

11%

 

5%

 

9%

 

5%

Customer G

 

-%

 

35%

 

-%

 

18%

Customer H

 

-%

 

-%

 

-%

 

16%

 

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 98% of our net revenues from within the United States for the three and six months ended June 30, 2025 and over 99% of our net revenues from within the United States for the three and six months ended June 30, 2024.

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, 2025, we recognized revenue of $808 that was included in our deferred revenue balance as of December 31, 2024.

Remaining Performance Obligations

Remaining performance obligations were $5,320 as of June 30, 2025, of which we expect to recognize approximately 33% as revenue over the next 12 months and the remainder thereafter.