Revenue from Contracts with Customers

6 Months Ended

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.