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Revenue Recognition
 9 Months Ended
Mar. 31, 2021
Revenue Recognition  
Revenue Recognition

2. REVENUE RECOGNITION

 

Disaggregation of Revenue

 

The following table presents our subscription and professional services revenue during the three and nine months ended March 31, 2021 and 2020, respectively:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

March 31, 

 

 

March 31, 

 

2021

    

    

2020

 

2021

    

    

2020

Revenue:

 

 

 

 

 

 

 

 

 

 

 

  SaaS revenue

$

16,875

 

$

14,817

 

$

49,023

 

$

41,279

  Legacy revenue

 

1,203

 

 

2,102

 

 

4,502

 

 

7,555

Total subscription revenue

 

18,078

 

 

16,919

 

 

53,525

 

 

48,834

Professional services revenue

 

1,665

 

 

1,435

 

 

4,514

 

 

4,865

Total revenue

$

19,743

 

$

18,354

 

$

58,039

 

$

53,699

The following table presents our revenue by geography. Revenue by geography is generally determined on the region of our contracting entity rather than the region of our customer. The relative proportion of our total revenue between each geographic region as presented in the table below was materially consistent across each of our operating regions’ revenue for the periods presented.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

March 31, 

 

March 31, 

 

    

2021

    

2020

 

2021

    

2020

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

13,630

 

$

11,485

 

$

40,566

 

$

32,049

Europe, Middle East, & Africa

 

 

6,113

 

 

6,869

 

 

17,473

 

 

21,650

Total revenue

 

$

19,743

 

$

18,354

 

$

58,039

 

$

53,699

Contract Balances

Contract assets, if any, consist of unbilled receivables for completed performance obligations which have not been invoiced, and for which we do not have an unconditional right to consideration. Contract liabilities consist of deferred revenue for which we have an obligation to transfer services to customers and have received consideration in advance or the amount is due from customers. Once the obligations are fulfilled, then deferred revenue is recognized to revenue in the respective period. There were no contract assets for the period ended March 31, 2021 and 2020.

 

The following table presents the changes in contract liabilities (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Balance as of June 30, 2020
($)

    

Additions
($)

 

Deductions
($)

 

Balance as of  March 31, 2021
($)

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

 

36,644

 

 

52,543

 

 

(57,483)

 

 

31,704

Deferred revenue, net of current portion

 

 

4,826

 

 

 —

 

 

(1,012)

 

 

3,814

 

With respect to deferred revenue balances as of June 30, 2020, $8.3 million and $32.9 million was recognized to revenue during the three and nine months ended March 31, 2021, respectively.

Remaining Performance Obligations

 

Remaining performance obligations represent contracted revenue that had not yet been recognized, and include deferred revenue, invoices that have been issued to customers but were uncollected and have not been recognized as revenue, and amounts that will be invoiced and recognized as revenue in future periods.  The transaction price allocated to the remaining performance obligation is influenced by a variety of factors, including seasonality, timing of renewals, average contract terms and foreign currency exchange rates. As of March 31, 2021, our remaining performance obligations were $62.3 million of which we expect to recognize $50.1 million and $12.2 million as revenue within one year and beyond one year, respectively.