XML 27 R16.htm IDEA: XBRL DOCUMENT v3.21.2
Revenue (Notes)
6 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] REVENUE
The Company has consistently applied its accounting policies with respect to revenue to all periods presented in the consolidated financial statements contained herein. Beginning in 2021, we began classifying subscription fees for BrandGraph and IZEAx Discovery as Licensing Fees; accordingly, these amounts from 2020 have been reclassified from Other Fees to conform with their 2021 classification. Beginning in 2021, the Company began classifying subscription fees for BrandGraph and IZEAx Discovery as License Fees; accordingly, these amounts from 2020 have been reclassified from Other Fees to conform with their 2021 classification. The following table illustrates the Company’s revenue by product service type:
Three Months EndedSix Months Ended
June 30,
2021
June 30,
2020
June 30,
2021
June 30,
2020
Managed Services Revenue$6,113,819 $2,490,343 $10,985,853 $6,615,404 
Marketplace Spend Fees71,167 195,894 179,964 362,187 
License Fees344,843 442,905 727,884 894,453 
Other Fees8,910 5,897 20,670 26,663 
SaaS Services Revenue424,920 644,696 928,518 1,283,303 
Total Revenue$6,538,739 $3,135,039 $11,914,371 $7,898,707 

The following table provides the Company’s revenues as determined by the country of domicile:
Three Months EndedSix Months Ended
June 30,
2021
June 30,
2020
June 30,
2021
June 30,
2020
United States$6,434,652 $3,068,785 $11,562,897 $7,646,793 
Canada104,087 66,254 351,474 251,914 
Total$6,538,739 $3,135,039 $11,914,371 $7,898,707 
Contract Balances
The following table provides information about receivables, contract assets and contract liabilities from contracts with customers reported in the Company’s consolidated balance sheet:
June 30,
2021
December 31, 2020
Accounts receivable, net$6,132,949 $5,207,205 
Contract liabilities (unearned revenue)$8,654,765 $7,180,264 

The increase in contract liabilities is primarily the result of the increase in contracts where the customers have been charged in advance of services in future periods. The Company does not typically engage in contracts that are longer than one year. Therefore, the Company recognized substantially all of the contract liabilities recorded at the end of the year in the following year and it did not recognize any contract assets as of June 30, 2021 or December 31, 2020. The Company does not capitalize costs to obtain its customer contracts given their general duration of less than one year, and the amounts are not material.

Contract receivables are recognized when the receipt of consideration is unconditional. Contract liabilities relate to charges to customers in advance of the Company satisfying performance obligations under the terms of the contracts, which will be earned in future periods. Contract liabilities increase as a result of additional charges to customers and decrease as revenue is recognized upon the Company meeting the performance obligations for those services. As a practical expedient, the Company expenses the costs of sales commissions that are paid to its sales force associated with obtaining contracts less than one year in length in the period incurred.

Remaining Performance Obligations
The Company typically enters into contracts that are one year or less in length. As such, the remaining performance obligations as of June 30, 2021 and December 31, 2020 are equal to the contract liabilities disclosed above. The Company expects to recognize the full balance of the unearned revenue as of June 30, 2021 within the next year.