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Revenue from Contracts with Customers (Tables)
 9 Months Ended
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