Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 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
	MARCH 31,
	2024		2023
	(Unaudited)
Carrier Services	$	19,342,789	$	13,597,701
Managed Services		14,864,490		11,675,980
	$	34,207,279	$	25,273,681

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

	THREE MONTHS ENDED
	MARCH 31,
	2024		2023
	(Unaudited)
U.S. Federal Government	$	28,067,572	$	20,230,576
U.S. State and Local Governments		96,679		91,023
Foreign Governments		10,392		16,557
Commercial Enterprises		6,032,636		4,935,525
	$	34,207,279	$	25,273,681

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

	THREE MONTHS ENDED
	MARCH 31,
	2024		2023
	(Unaudited)
United States	$	33,250,246	$	24,209,410
Europe		957,033		1,064,271
	$	34,207,279	$	25,273,681

During the three months ended March 31, 2024 and 2023, the Company recognized approximately $908,900 and $709,400, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2023 and 2022, respectively.