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Revenue from Contracts with Customers | 6 Months Ended
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Jun. 30, 2024
Revenue from Contracts with Customers |
Revenue from Contracts with Customers | 13. Revenue from Contracts with Customers The following table was prepared to provide additional information about the composition of revenues from contracts with customers for the periods presented:
|  | THREE MONTHS ENDED |  |  | SIX MONTHS ENDED |
|  | JUNE 30, |  |  | JUNE 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (Unaudited) |
Carrier Services |  | $ | 20,403,280 |  |  | $ | 14,241,055 |  |  | $ | 39,785,951 |  |  | $ | 27,838,756 |
Managed Services |  |  | 15,637,491 |  |  |  | 12,521,802 |  |  |  | 30,462,099 |  |  |  | 24,197,782 |
|  | $ | 36,040,771 |  |  | $ | 26,762,857 |  |  | $ | 70,248,050 |  |  | $ | 52,036,538 |
The Company recognized revenues from contracts with customers for the following customer types as set forth below:
|  | THREE MONTHS ENDED |  |  | SIX MONTHS ENDED |
|  | JUNE 30, |  |  | JUNE 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (Unaudited) |
U.S. Federal Government |  | $ | 29,884,981 |  |  | $ | 21,644,125 |  |  | $ | 57,952,553 |  |  | $ | 41,874,701 |
U.S. State and Local Governments |  |  | 112,707 |  |  |  | 113,691 |  |  |  | 209,386 |  |  |  | 204,714 |
Foreign Governments |  |  | 21,663 |  |  |  | 23,021 |  |  |  | 32,055 |  |  |  | 39,578 |
Commercial Enterprises |  |  | 6,021,420 |  |  |  | 4,982,020 |  |  |  | 12,054,056 |  |  |  | 9,917,545 |
|  | $ | 36,040,771 |  |  | $ | 26,762,857 |  |  | $ | 70,248,050 |  |  | $ | 52,036,538 |
The Company recognized revenues from contracts with customers in the following geographic regions:
|  | THREE MONTHS ENDED |  |  | SIX MONTHS ENDED |
|  | JUNE 30, |  |  | JUNE 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (Unaudited) |
United States |  | $ | 34,987,680 |  |  | $ | 25,686,543 |  |  | $ | 68,237,926 |  |  | $ | 49,895,953 |
Europe |  |  | 1,053,091 |  |  |  | 1,076,314 |  |  |  | 2,010,124 |  |  |  | 2,140,585 |
|  | $ | 36,040,771 |  |  | $ | 26,762,857 |  |  | $ | 70,248,050 |  |  | $ | 52,036,538 |
During the three months ended June 30, 2024 and 2023, the Company recognized approximately $527,900 and $534,200, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2023 and 2022, respectively. During the six months ended June 30, 2024 and 2023, the Company recognized approximately $1,436,800 and $1,243,600, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2023 and 2022, respectively.

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