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Revenues | 9 Months Ended
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Sep. 30, 2023
Revenue from Contract with Customer [Abstract] |
Revenues | Revenues Deferred Contract Costs The Company’s amortization of deferred contract costs was $0.2 million for each of the three months ended September 30, 2023 and 2022, and was $0.7 million for each of the nine months ended September 30, 2023 and 2022. The amount of capitalized contract costs was $0.4 million as of both September 30, 2023 and December 31, 2022. Deferred Revenue Total deferred revenue was $27.2 million and $25.5 million as of September 30, 2023 and December 31, 2022, respectively. Revenue recognized for the three months ended September 30, 2023 and 2022 was $9.7 million and $9.2 million, respectively, and was $20.5 million and $19.3 million for the nine months ended September 30, 2023 and 2022, respectively, which was included in each deferred revenue balance at the beginning of each respective period. The Company’s deferred revenue as stated on its condensed consolidated balance sheets presented approximates its contract liability balance as of September 30, 2023 and December 31, 2022. The Company’s total deferred revenue balance as of September 30, 2023, approximates the aggregate amount of the transaction price allocated to remaining performance obligations (“RPOs”) as of that date. As of September 30, 2023, the Company's RPOs were $29.5 million. This amount includes deferred revenue arising from consideration invoiced for which the related performance obligations have not been satisfied, as well as future committed revenue for periods within current contracts with customers. As of September 30, 2023, the Company expects to recognize approximately 84% of its RPOs over the next 12 months, and substantially all of its RPOs over the next 24 months. Disaggregation of Revenue The following table presents the Company’s revenue disaggregated by product (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
B2 Cloud Storage | $ | 11,608 |  |  | $ | 8,864 |  |  | $ | 32,384 |  |  | $ | 23,678 |
Computer Backup | 13,691 |  |  | 13,187 |  |  | 40,898 |  |  | 38,551 |
Total revenue(1) | $ | 25,299 |  |  | $ | 22,051 |  |  | $ | 73,282 |  |  | $ | 62,229 |
________________ (1) For the periods presented, Physical Media revenue has been consolidated into B2 Cloud Storage or Computer Backup revenue based on the underlying offering from which it originates. The following table presents the Company’s revenue disaggregated by timing of revenue recognition (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Consumption-based arrangements | $ | 11,393 |  |  | $ | 8,825 |  |  | $ | 31,986 |  |  | $ | 23,553 |
Subscription-based arrangements | 13,774 |  |  | 13,065 |  |  | 40,878 |  |  | 38,168 |
Physical Media (point in time) | 132 |  |  | 161 |  |  | 418 |  |  | 508 |
Total revenue | $ | 25,299 |  |  | $ | 22,051 |  |  | $ | 73,282 |  |  | $ | 62,229 |
Revenue by geographic area, based on the location of the Company’s customers, was as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
United States | $ | 18,277 |  |  | $ | 15,802 |  |  | $ | 52,502 |  |  | $ | 44,636 |
United Kingdom | 1,373 |  |  | 1,213 |  |  | 3,944 |  |  | 3,434 |
Canada | 1,223 |  |  | 1,133 |  |  | 3,634 |  |  | 3,129 |
Other | 4,426 |  |  | 3,903 |  |  | 13,202 |  |  | 11,030 |
Total revenue | $ | 25,299 |  |  | $ | 22,051 |  |  | $ | 73,282 |  |  | $ | 62,229 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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