Related Party Transactions

9 Months Ended

May 31, 2022

Related Party Transactions [Abstract]

Related Party Transactions

(16)Related-Party Transactions

Services Provided on Behalf of and by Accenture

As of May 31, 2022, Accenture held 16% of the outstanding shares of common stock of the Company.

The Company provides certain professional services and software maintenance services to end customers as a subcontractor to Accenture as part of its typical revenue generating arrangements. During the three and nine months ended May 31, 2022 and 2021, the Company recognized immaterial amounts of revenue relating to services performed in this subcontractor capacity.

In addition, the Company also engages Accenture to provide certain professional services on behalf of the Company as part of its typical revenue generating arrangements. During both the three and nine months ended May 31, 2022 and 2021, the Company incurred immaterial expenditures relating to services performed by Accenture.

Revenue Contracts with Investors

During the nine months ended May 31, 2022, the Company recognized revenue from customers that invested in the Company’s Class E Preferred Units whose shares converted to common stock in our IPO. The Company recognized aggregate revenue of $6.6 million and $5.6 million during the three months ended May 31, 2022 and 2021, respectively, and $21.6 million and $21.2 million during the nine months ended May 31, 2022 and 2021, respectively. Deferred revenue from these customers was $1.6 million and $4.1 million as of May 31, 2022 and August 31, 2021, respectively.

Outstanding accounts receivables due from these customers was $6.4 million and $5.0 million as of May 31, 2022 and August 31, 2021, respectively.