Revenue and Contract Acquisition Costs

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenue and Contract Acquisition Costs

Revenue and Contract Acquisition Costs

The following table summarizes the Company’s disaggregated revenue:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
U.S. Omnipod	$	150.5	$	128.8	$	293.8	$	245.4
International Omnipod	91.6		73.2		181.5		146.3
Total Omnipod	242.1		202.0		475.3		391.7
Drug Delivery	21.1		24.3		40.2		32.6
Total revenue	$	263.2	$	226.3	$	515.5	$	424.3

During the three and six months ended June 30, 2021, the Company had two customers that in aggregate represented 26% and 25% of total revenue, respectively. During both the three and six months ended June 30, 2020, the Company had two customers that in aggregate represented 21% of total revenue.

At June 30, 2021, the Company had two customers that in aggregate accounted for 26% of consolidated net accounts receivable, compared with one customer that accounted for 15% of consolidated net accounts receivable at December 31, 2020.

Deferred revenue related to unsatisfied performance obligations was included in the following consolidated balance sheet accounts in the amounts shown:

(in millions)	June 30, 2021		December 31, 2020
Accrued expenses and other current liabilities	$	3.2	$	5.4
Other liabilities	1.4		1.0
Total deferred revenue	$	4.6	$	6.4

During the three months ended June 30, 2021 and 2020, the Company recognized $0.2 million and $0.1 million of revenue, respectively, that was included in deferred revenue at the beginning of each period. During the six months ended June 30, 2021 and 2020, the Company recognized $3.9 million and $1.6 million of revenue, respectively, that was included in deferred revenue at the beginning of each period.

Contract acquisition costs, representing capitalized commission costs related to new customers, net of amortization, were included in the following consolidated balance sheet captions in the amounts shown:

(in millions)	June 30, 2021		December 31, 2020
Prepaid expenses and other current assets	$	12.3	$	11.0
Other assets	24.4		21.9
Total capitalized contract acquisition costs, net	$	36.7	$	32.9

The Company recognized $3.0 million and $2.6 million of amortization of capitalized contract acquisition costs during the three months ended June 30, 2021 and 2020, respectively. The Company recognized $6.0 million and $5.1 million of amortization of capitalized contract acquisition costs during the six months ended June 30, 2021 and 2020, respectively.

The Company had unbilled receivables of $18.0 million and $11.6 million at June 30, 2021 and December 31, 2020, respectively.