Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2023

Revenue from Contracts with Customers

Revenue from Contracts with Customers

15. 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,
	2023		2022		2023		2022
	(Unaudited)
Carrier Services	$	14,648,545	$	14,062,700	$	42,487,301	$	39,495,108
Managed Services		11,085,112		11,208,872		35,282,894		31,270,245
	$	25,733,657	$	25,271,572	$	77,770,195	$	70,765,353

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,
	2023		2022		2023		2022
	(Unaudited)
U.S. Federal Government	$	20,285,569	$	19,840,322	$	62,160,270	$	55,846,663
U.S. State and Local Governments		113,814		86,091		318,528		313,112
Foreign Governments		22,364		17,787		61,942		74,253
Commercial Enterprises		5,311,910		5,327,372		15,229,455		14,531,325
	$	25,733,657	$	25,271,572	$	77,770,195	$	70,765,353

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

	THREE MONTHS ENDED				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2023		2022		2023		2022
	(Unaudited)
North America	$	24,817,014	$	24,552,201	$	74,712,967	$	68,222,879
Europe		916,643		719,371		3,057,228		2,542,474
	$	25,733,657	$	25,271,572	$	77,770,195	$	70,765,353

During the three months ended September 30, 2023 and 2022, the Company recognized approximately $352,100 and $485,400, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2022 and 2021, respectively.

During the nine months ended September 30, 2023 and 2022, the Company recognized approximately $1.6 million and $2.1 million, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2022 and 2021, respectively.