Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2022

Revenue from Contracts with Customers

Revenue from Contracts with Customers

16. 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				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2022		2021		2022		2021
	(Unaudited)
Carrier Services	$	14,062,695	$	13,100,499	$	39,495,108	$	36,347,673
Managed Services		11,240,821		9,150,783		31,302,189		26,537,872
	$	25,303,516	$	22,251,282	$	70,797,297	$	62,885,545

The Company recognized revenues from contracts with customers for the following customer types as set forth below:

	THREE MONTHS ENDED				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2022		2021		2022		2021
	(Unaudited)
U.S. Federal Government	$	19,840,322	$	19,377,818	$	55,846,663	$	52,959,115
U.S. State and Local Governments		86,091		50,196		313,112		168,284
Foreign Governments		17,787		14,840		74,253		53,929
Commercial Enterprises		5,359,316		2,808,428		14,563,269		9,704,217
	$	25,303,516	$	22,251,282	$	70,797,297	$	62,885,545

The Company recognized revenues from contracts with customers in the following geographic regions:

	THREE MONTHS ENDED				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2022		2021		2022		2021
	(Unaudited)
North America	$	24,584,145	$	21,286,194	$	68,254,823	$	59,459,998
Europe		719,371		965,088		2,542,474		3,425,547
	$	25,303,516	$	22,251,282	$	70,797,297	$	62,885,545

During the three months ended September 30, 2022 and 2021, the Company recognized approximately $485,400 and $344,700, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2021 and 2020, respectively.

During the nine months ended September 30, 2022 and 2021, the Company recognized approximately $2.1 million and $1.8 million, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2021 and 2020, respectively.