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Revenue Recognition
 9 Months Ended
Mar. 31, 2022
Revenue Recognition  
Revenue Recognition

2. REVENUE RECOGNITION

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Disaggregation of Revenue

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The following table presents our subscription and professional services revenue during the three and nine months ended March 31, 2022 and 2021, respectively:

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Three Months Ended

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Nine Months Ended

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March 31, 

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March 31, 

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2022

    

    

2021

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2022

    

    

2021

Revenue:

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​

​

​

​

​

​

​

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SaaS revenue

$

20,686

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$

16,875

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$

60,331

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$

49,023

Legacy revenue

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1,042

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​

1,203

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​

2,848

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​

4,502

Total subscription revenue

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21,728

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​

18,078

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​

63,179

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​

53,525

Professional services revenue

 

2,176

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1,665

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5,268

​

 

4,514

Total revenue

$

23,904

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$

19,743

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$

68,447

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$

58,039

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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.

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Three Months Ended

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Nine Months Ended

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March 31, 

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March 31, 

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2022

    

2021

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2022

    

2021

Revenue:

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North America

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$

17,480

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$

13,630

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$

49,472

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$

40,566

Europe, Middle East, & Africa

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​

6,424

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6,113

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18,975

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17,473

Total revenue

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$

23,904

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$

19,743

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$

68,447

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$

58,039

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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 contract assets of unbilled accounts receivable of $913,000 as of March 31, 2022 and $719,000 as of June 30, 2021, on our condensed consolidated balance sheets.

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

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Balance as of June 30, 2021
($)

    

Balance as of March 31, 2022
($)

Contract liabilities:

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Deferred revenue

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46,211

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​

38,051

Deferred revenue, net of current portion

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3,332

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2,990

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$8.9 million and $35.8 million of deferred revenue as of June 30, 2021 was recognized to revenue during the three and nine months ended March 31, 2022. Total deferred revenue includes additions of $60,415 and deductions of $68,917 for the nine months ended March 31, 2022. Deductions consist of revenue recognized from beginning of period and impact of foreign currency translation.

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Remaining Performance Obligations

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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, 2022, our remaining performance obligations were $84.2 million of which we expect to recognize $53.4 million and $30.8 million as revenue within one year and beyond one year, respectively.