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Revenue Recognition

6 Months Ended

Dec. 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 six months ended December 31, 2022 and 2021, respectively (in thousands):

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​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended				​	​	Six Months Ended
​	​	December 31,				​	​	December 31,
​	2022				2021	​	2022				2021
Revenue:	​	​	​	​	​	​	​	​	​	​	​
SaaS revenue	$	23,429	​	$	20,451	​	$	46,057	​	$	39,645
Legacy revenue	​	185	​	​	855	​	​	480	​	​	1,806
Total subscription revenue	​	23,614	​	​	21,306	​	​	46,537	​	​	41,451
Professional services revenue		1,986	​		1,787	​		3,826	​		3,092
Total revenue	$	25,600	​	$	23,093	​	$	50,363	​	$	44,543

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The following table presents our revenue recognized over-time and at a point-in-time during the three and six months ended December 31, 2022 and 2021, respectively (in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	Three Months Ended  December 31,					​	Six Months Ended  December 31,
​	2022		​	2021		​	2022		​	2021
Revenue:	​	​	​	​	​	​	​	​	​	​	​
Over-time	$	22,808	​	$	20,220	​	$	44,124	​	$	39,236
Point-in-time	​	2,792	​	​	2,873	​	​	6,239	​	​	5,307
Total revenue	$	25,600	​	$	23,093	​	$	50,363	​	$	44,543

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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 (in thousands):

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Three Months Ended

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Six Months Ended

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December 31,

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December 31,

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2022

2021

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2022

2021

Revenue:

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North America

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$

19,802

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$

16,764

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$

38,922

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$

31,992

Europe, Middle East, & Africa

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5,798

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6,329

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11,441

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12,551

Total revenue

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$

25,600

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$

23,093

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$

50,363

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$

44,543

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 as of December 31, 2022, on our condensed consolidated balance sheets.

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The following table presents our contract liabilities (in thousands):

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​	​	​	​	​	​	​	​
​		​	December 31, 2022		​	June 30, 2022
Contract liabilities:	​	​	​	​	​	​	​
Deferred revenue	​	​	41,768	​	​	​	45,638
Deferred revenue, net of current portion	​	​	2,968	​	​		3,785

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$11.0 million and $25.4 million of deferred revenue as of June 30, 2022 was recognized to revenue during the three and six months ended December 31, 2022, respectively. Total deferred revenue includes additions of $21.9 million and deductions of $26.6 million for the three months ended December 31, 2022. Total deferred revenue includes additions of $46.9 million and deductions of $51.6 million for the six months ended December 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 December 31, 2022, our remaining performance obligations were $92.1 million of which we expect to recognize $56.5 million and $35.6 million as revenue within one year and beyond one year, respectively.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

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