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Revenue from Contracts with Customers (Tables) | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Revenues Disaggregated by Type of Services Performed | The table below presents the Company’s revenues disaggregated by type of services performed.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Software revenue |  | $ | 30,664 |  |  | $ | 28,919 |  |  | $ | 90,266 |  |  | $ | 83,135 |
Payment revenue |  |  | 80,697 |  |  |  | 68,485 |  |  |  | 230,082 |  |  |  | 190,894 |
Services revenue |  |  | 1,411 |  |  |  | 1,276 |  |  |  | 3,154 |  |  |  | 2,627 |
Total revenues |  | $ | 112,772 |  |  | $ | 98,680 |  |  | $ | 323,502 |  |  | $ | 276,656 |
Information on Accounts Receivable and Contract Liabilities | The table below presents information on accounts receivable and contract liabilities.
|  | As of September 30, 2024 |  |  | As of December 31, 2023 |
Trade accounts receivable, net |  | $ | 22,825 |  |  | $ | 16,261 |
Payment processing receivable, net |  |  | 33,277 |  |  |  | 30,428 |
Accounts receivable, net |  | $ | 56,102 |  |  | $ | 46,689 |
Contract liabilities |  | $ | 25,471 |  |  | $ | 27,593 |
Significant Changes in Contract Liabilities Balance | Significant changes in the contract liabilities balance are as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Revenue recognized included in beginning of period balance |  | $ | (2,120 | ) |  | $ | (3,351 | ) |  | $ | (8,733 | ) |  | $ | (8,264 | )
Cash received, excluding amounts recognized as revenue during the period |  |  | 2,733 |  |  |  | 1,656 |  |  |  | 6,611 |  |  |  | 6,613 |
Summary of Changes in Allowance for Credit Losses And Returns | The tables below present a summary of changes in the Company’s allowances for credit losses and returns for the nine months ended September 30, 2024 and 2023:
|  | Accounts Receivable |  |  |  |
|  | Allowance for Credit Losses |  |  | Allowance for Returns |  |  | Supplier Advances Receivable Allowance |
Allowance balance, December 31, 2023 |  | $ | 2,142 |  |  | $ | 2,089 |  |  | $ | 1,333 |
Amounts charged to contra revenue, cost of revenues and expenses |  |  | 1,016 |  |  |  | (200 | ) |  |  | 1,127 |
Amounts written off as uncollectable |  |  | (309 | ) |  |  | - |  |  |  | (1,593 | )
Recoveries of amounts previously written off |  |  | - |  |  |  | - |  |  |  | 797 |
Deduction released to revenue |  |  | - |  |  |  | - |  |  |  | - |
Allowance balance, September 30, 2024 |  | $ | 2,849 |  |  | $ | 1,889 |  |  | $ | 1,664 |
|  | Accounts Receivable |  |  |  |
|  | Allowance for Credit Losses |  |  | Allowance for Returns |  |  | Supplier Advances Receivable Allowance |
Allowance balance, December 31, 2022 |  | $ | 1,539 |  |  | $ | 1,584 |  |  | $ | 1,872 |
Amounts charged to contra revenue, cost of revenues and expenses |  |  | 945 |  |  |  | 375 |  |  |  | 210 |
Amounts written off as uncollectable |  |  | (484 | ) |  |  | (1 | ) |  |  | (1,701 | )
Recoveries of amounts previously written off |  |  | - |  |  |  | - |  |  |  | 932 |
Deduction released to revenue |  |  | - |  |  |  | (92 | ) |  |  | - |
Allowance balance, September 30, 2023 |  | $ | 2,000 |  |  | $ | 1,866 |  |  | $ | 1,313 |
Schedule of Remaining Performance Obligation | Remaining performance obligation consisted of the following:
|  | Current |  |  | Noncurrent |  |  | Total |
As of September 30, 2024 |  | $ | 15,073 |  |  | $ | 20,252 |  |  | $ | 35,325 |
As of December 31, 2023 |  |  | 15,031 |  |  |  | 20,403 |  |  |  | 35,434 |
Information about Deferred Contract Costs | The following tables present information about deferred contract costs:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Capitalized sales commissions and implementation costs |  | $ | 3,016 |  |  | $ | 3,045 |  |  | $ | 9,496 |  |  | $ | 8,422 |
Amortization of deferred contract costs |  |  |  |  |  |  |  |  |  |  |  |
Costs to obtain contracts included in sales and marketing expense |  | $ | 1,615 |  |  | $ | 1,550 |  |  | $ | 4,858 |  |  | $ | 4,489 |
Costs to fulfill contracts included in cost of revenue |  | $ | 1,528 |  |  | $ | 1,564 |  |  |  | 4,623 |  |  |  | 4,718 |

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