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Revenue
 12 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Revenue Disaggregation
The following table summarizes our revenue by geographic location of our customers:
Year ended September 30,
($ in thousands)202120202019
North America, primarily the United States$227,923 $213,487 $184,022 
Europe, Middle East & Africa46,024 40,076 39,896 
Rest of world34,685 25,708 30,285 
Total revenue$308,632 $279,271 $254,203 

The following table summarizes our revenue by the timing of revenue recognition:
Year ended September 30,
($ in thousands)202120202019
Transferred at a point in time$274,960 $253,371 $231,387 
Transferred over time33,672 25,900 22,816 
Total revenue$308,632 $279,271 $254,203 
Contract Balances
Contract Assets
Contract assets consist of subscriber assets.  These subscriber assets relate to fees in certain contracts that we charge our customers so they can begin using equipment. In these cases, we retain the ownership of the equipment that the customer uses.
11. REVENUE (CONTINUED)
The total net book value of subscriber assets was $1.9 million at September 30, 2021 and $2.0 million at September 30, 2020 and is included in property, equipment and improvements, net. Depreciation expense for these subscriber assets was $1.9 million, $1.5 million and $1.1 million for fiscal 2021, 2020 and 2019, respectively. We depreciate the cost of this equipment over its useful life (typically three years).
Contract Liabilities
The timing of revenue recognition may differ from the timing of invoicing to customers. Customers are invoiced for subscription services in advance on a monthly, quarterly or annual basis. Contract liabilities consist of unearned revenue related to annual or multi-year contracts for subscription services and related implementation fees for our IoT Solutions segment and our Digi Remote Manager® services in our IoT Products & Services segment.
Changes in unearned revenue were:
 Year ended September 30,
($ in thousands)202120202019
Unearned revenue, beginning of period$9,341 $5,025 $3,933 
Billings48,972 35,213 43,071 
Revenue recognized(42,825)(30,897)(41,979)
Unearned revenue, end of period$15,488 $9,341 $5,025 

Remaining Transaction Price
Transaction price allocated to the remaining performance obligations represents contracted revenue that has not been recognized, which includes unearned revenue and unbilled amounts that will be recognized as revenue in future periods. As of September 30, 2021 approximately $17.4 million of revenue is expected to be recognized from remaining performance obligations for subscriptions contracts. We expect to recognize revenue on approximately $14.4 million of remaining performance obligations over the next twelve months. Revenue from the remaining performance obligations we expect to recognize over a range of two years to seven years.