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Revenue Recognition (Tables) - Marketwise, LLC

6 Months Ended

Jun. 30, 2021

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

The following table depicts the disaggregation of revenue according to customer type and is consistent with how we evaluate our financial performance. We believe this depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

			Three Months Ended June 30, 2021
			Subscriptions						Advertising						Revenue Share (Related Party)						Revenue Share (Third-party)						Total
Timing of transfer:
Transferred over time			$	140,884					$	—					$	—					$	—					$	140,884
Transferred at a point in time			—						635						246						365						1,246
Total			$	140,884					$	635					$	246					$	365					$	142,130

			Three Months Ended June 30, 2020
			Subscriptions						Advertising						Revenue Share (Related Party)						Revenue Share (Third-party)						Total
Timing of transfer:
Transferred over time			$	80,619					$	—					$	—					$	—					$	80,619
Transferred at a point in time			—						662						890						624						2,176
Total			$	80,619					$	662					$	890					$	624					$	82,795

			Six Months Ended June 30, 2021
			Subscriptions						Advertising						Revenue Share (Related Party)						Revenue Share (Third-party)						Total
Timing of transfer:
Transferred over time			$	258,531					$	—					$	—					$	—					$	258,531
Transferred at a point in time			—						1,545						619						1,149						3,313
Total			$	258,531					$	1,545					$	619					$	1,149					$	261,844

			Six Months Ended June 30, 2020
			Subscriptions						Advertising						Revenue Share (Related Party)						Revenue Share (Third-party)						Total
Timing of transfer:
Transferred over time			$	155,922					$	—					$	—					$	—					$	155,922
Transferred at a point in time			—						1,006						1,438						811						3,255
Total			$	155,922					$	1,006					$	1,438					$	811					$	159,177

Revenue recognition by subscription type was as follows:

						Three Months Ended June 30,												Six Months Ended June 30,
																		2021						2020						2021						2020
Lifetime subscriptions																		$	49,867					$	33,035					$	90,031					$	62,088
Term subscriptions																		91,017						47,584						168,500						93,834
Non-subscription revenue																		1,246						2,176						3,313						3,255
Total																		$	142,130					$	82,795					$	261,844					$	159,177

Revenue for the Lifetime and Term subscription types are determined based on the terms of the subscription agreements. Non-subscription revenue consists of revenue from advertising and other revenue.

Net revenue by principal geographic areas was as follows:

						Three Months Ended June 30,												Six Months Ended June 30,
																		2021						2020						2021						2020
United States																		$	141,599					$	82,163					$	260,873					$	157,773
International																		531						632						971						1,404
Total																		$	142,130					$	82,795					$	261,844					$	159,177

The following table depicts the disaggregation of revenue according to customer type and is consistent with how we evaluate our financial performance. We believe this depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

			Year Ended December 31, 2020
			Subscriptions						Advertising						Revenue Share (Related Party)						Revenue Share (Third-party)						Total
Timing of transfer:
Transferred over time			$	356,265					$	—					$	—					$	—					$	356,265
Transferred at a point in time			—						1,965						3,386						2,563						7,914
Total			$	356,265					$	1,965					$	3,386					$	2,563					$	364,179

			Year Ended December 31, 2019
			Subscriptions						Advertising						Revenue Share (Related Party)						Revenue Share (Third-party)						Total
Timing of transfer:
Transferred over time			$	260,640					$	—					$	—					$	—					$	260,640
Transferred at a point in time			—						2,669						6,825						2,089						11,583
Total			$	260,640					$	2,669					$	6,825					$	2,089					$	272,223

			Year Ended December 31, 2018
			Subscriptions						Advertising						Revenue Share (Related Party)						Revenue Share (Third-party)						Total
Timing of transfer:
Transferred over time			$	229,690					$	—					$	—					$	—					$	229,690
Transferred at a point in time			—						3,042						5,583						133						8,758
Total			$	229,690					$	3,042					$	5,583					$	133					$	238,448

Revenue recognition by subscription type was as follows:

			Year Ended December 31,
			2020						2019						2018
Lifetime subscriptions			$	134,525					$	98,578					$	71,215
Term subscriptions			221,740						162,062						158,475
Non-subscription revenue			7,914						11,583						8,758
Total			$	364,179					$	272,223					$	238,448

Revenue for the Lifetime and Term subscription types are determined based on the terms of the subscription agreements. Non-subscription revenue consists of revenue from advertising and other revenue.

Net revenue by principal geographic areas was as follows:

			Year Ended December 31,
			2020						2019						2018
United States			$	361,547					$	265,647					$	226,167
International			2,632						6,576						12,281
Total			$	364,179					$	272,223					$	238,448

Summary of Contract Balances

Accounts receivable, deferred revenue and obligation for refunds are as follows:

			As of
			June 30, 2021						December 31, 2020
Contract balances
Accounts receivable			$	8,965					$	12,398
Obligations for refunds			4,781						3,448
Deferred revenue – current			319,894						274,819
Deferred revenue – non-current			382,797						254,481

Accounts receivable, deferred revenue and obligation for refunds are as follows:

			As of December 31,
			2020						2019						2018
Contract balance
Accounts receivable			$	12,398					$	7,332					$	818
Obligations for refunds			3,448						2,214						3,507
Deferred revenue – current			274,819						190,778						171,273
Deferred revenue – non-current			254,481						160,907						142,229

Capitalized Contract Cost

The following table presents the opening and closing balances of our capitalized costs associated with contracts with customers:

Balance at January 1, 2021			$	107,236
Sales commissions – additions			43,770
Revenue share fees – additions			62,491
Amortization of capitalized costs			(31,920)
Balance at June 30, 2021			$	181,577

The following table presents the opening and closing balances of our capitalized costs associated with contracts with customers:

Balance at January 1, 2018			$	23,259
Sales commissions - additions			15,940
Revenue share fees – additions			8,468
Amortization of capitalized costs			(12,102)
Balance at December 31, 2018			$	35,565
Sales commissions - additions			18,984
Revenue share fees – additions			6,284
Amortization of capitalized costs			(18,519)
Balance at December 31, 2019			$	42,314
Sales commissions - additions			43,273
Revenue share fees – additions			52,193
Amortization of capitalized costs			(30,544)
Balance at December 31, 2020			$	107,236

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- Definition

Tabular disclosure of cost capitalized in obtaining or fulfilling contract with customer.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 340
-SubTopic 40
-Section 50
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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
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