We recognize revenue in accordance with ASC 606 “Revenue from Contracts with Customers” (“Topic 606”), as described below.

The following tables present our revenues disaggregated by major products and services, geographical region and timing of revenue recognition.

Revenue by location of customer for the three months ended June 30, 2022 and 2021 (in thousands)


	EMEA			Americas			APAC			Total
Total Revenue:
2022	$	23,521		$	19,329		$	9,940		$	52,790
2021	$	24,830		$	17,011		$	10,436		$	52,277

Percent of Total:
2022		44	%		37	%		19	%		100	%
2021		47	%		33	%		20	%		100	%

Revenue by location of customer for the six months ended June 30, 2022 and 2021 (in thousands)


	EMEA			Americas			APAC			Total
Total Revenue:
2022	$	48,397		$	36,578		$	20,262		$	105,237
2021	$	51,819		$	33,539		$	17,694		$	103,052

Percent of Total:
2022		46	%		35	%		19	%		100	%
2021		50	%		33	%		17	%		100	%

Timing of revenue recognition (in thousands)


	Three Months ended June 30,				Six Months ended June 30,
	2022		2021		2022		2021
Products and Licenses transferred at a point in time	$	28,731	$	28,378	$	58,216	$	56,823
Services transferred over time		24,059		23,899		47,021		46,229
Total Revenue	$	52,790	$	52,277	$	105,237	$	103,052

Contract balances (in thousands)

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.


		June 30,		December 31,
in thousands	2022		2021
Receivables, inclusive of trade and unbilled	$	39,863	$	56,612
Contract Assets (current and non-current)	$	5,669	$	4,889
Contract Liabilities (Deferred Revenue current and non-current)	$	55,372	$	63,742

Contract assets relate primarily to multi-year term license arrangements and the remaining contractual billings. These contract assets are transferred to receivables when the right to bill occurs, which is normally over 3-5 years. The contract liabilities primarily relate to the advance consideration received from customers for subscription and maintenance services. Revenue is recognized for these services over time.

As a practical expedient, we do not adjust the promised amount of consideration for the effects of a significant financing component when we expect, at contract inception, that the period between our transfer of a promised product or service to a customer and when the customer pays for that product or service will be one year or less. We do not typically include extended payment terms in our contracts with customers.

Revenue recognized during the six months ended June 30, 2022 included $31.7 million that was included on the December 31, 2021 balance sheet in contract liabilities. Deferred revenue increased in the same period due to timing of annual renewals.

Transaction price allocated to the remaining performance obligations

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period.


in thousands	2022		2023		2024		Beyond 2024		Total
Future revenue related to current unsatisfied performance obligations	$	20,118	$	22,932	$	12,706	$	7,745	$	63,501

The Company applies practical expedients and does not disclose information about remaining performance obligations (a) that have original expected durations of one year or less, or (b) where revenue is recognized as invoiced.

Costs of obtaining a contract

The Company incurs incremental costs related to commissions, which can be directly tied to obtaining a contract. The Company capitalizes commissions associated with certain new contracts and amortizes the costs over a period of benefit based on the transfer of goods or services that we have determined to be up to seven years. The amortization is reflected in Sales and Marketing in the condensed consolidated statements of operations. We determined the period of benefit by taking into consideration our customer contracts, our technology and other factors, including customer attrition. Commissions are earned upon invoicing to the customer. For contracts with multiple year payment

terms, because the commissions that are payable after year 1 are payable based on continued employment, they are expensed when incurred. Commissions and amortization expense are included in Sales and Marketing expense in the condensed consolidated statements of operations.

Applying the practical expedient, the Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period for the assets that the Company otherwise would have recognized is one year or less. These costs are included in Sales and Marketing expense in the condensed consolidated statements of operations.

The following tables provide information related to the capitalized costs and amortization recognized in the current and prior period:



in thousands		June 30, 2022		December 31, 2021
Capitalized costs to obtain contracts, current	$	2,495	$	2,134
Capitalized costs to obtain contracts, non-current	$	9,497	$	8,675


		Three months ended June 30,				Six months ended June 30,
in thousands		2022		2021		2022		2021
Amortization of capitalized costs to obtain contracts	$	555	$	361	$	1,090	$	671
Impairments of capitalized costs to obtain contracts	$	-	$	-	$	-	$	-