Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

6. Revenue from Contracts with Customers

The Company primarily derives revenue from the sale of its online video platform, which enables its customers to publish and distribute video to Internet-connected devices quickly, easily and in a cost-effective and high-quality manner. Revenue is derived from three primary sources: (1) the subscription to its technology and related support; (2) hosting, bandwidth and encoding services; and (3) professional services, which include initiation, set-up and customization services.

The following summarizes the opening and closing balances of receivables, contract assets and contract liabilities from contracts with customers.

	Accounts Receivable, net		Contract Assets (current)		Deferred Revenue (current)		Deferred Revenue (non-current)		Total Deferred Revenue
Balance at December 31, 2023		33,451		1,785		68,155		185		68,340
Balance at December 31, 2022		26,004		1,786		61,597		360		61,957
Balance at December 31, 2021		29,866		2,375		62,057		114		62,171
Balance at December 31, 2020		29,305		2,078		58,741		811		59,552

Revenue recognized during the year ended December 31, 2023 from amounts included in deferred revenue at the beginning of the period was approximately $61.0 million. During the year ended December 31, 2023, the Company did not recognize any material revenue from performance obligations satisfied or partially satisfied in previous periods.

The assets recognized for costs to obtain a contract were $13.1 million and $12.4 million as of December 31, 2023 and December 31, 2022, respectively. Amortization expense recognized for costs to obtain a contract was $10.9 million, $10.4 million and $12.7 million during the years ended December 31, 2023, 2022 and 2021, respectively.

Transaction Price Allocated to Future Performance Obligations

As of December 31, 2023, the total aggregate transaction price allocated to the unsatisfied performance obligations for subscription and support contracts was approximately $183.0 million, of which approximately $127.3 million is expected to be recognized over the next 12 months. The Company expects to recognize substantially all of the remaining unsatisfied performance obligations by December 2028.