Revenue

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Disaggregation of revenues

The tables below present disaggregated revenues from contracts with clients by client location, industries and contract-types. The Company believes this disaggregation best depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by industry, market and other economic factors. The Company has a single reportable segment for the years ended December 31, 2021, 2020 and 2019.

The following table shows the disaggregation of the Company’s revenues by major customer location. Revenues are attributed to geographic regions based upon billed client location. Substantially all of the revenue in our North America region relates to operations in the United States.

	For the years ended December 31,
	2021		2020		2019
Customer Location	(in thousands)
North America	$	168,524	$	110,288	$	118,326
Europe	42,479		995		—
Other	277		—		—
Total Revenues	$	211,280	$	111,283	$	118,326

The following table shows the disaggregation of the Company’s revenues by main vertical markets for the years ended December 31, 2021, 2020 and 2019:

	For the years ended December 31,
	2021		2020		2019
Vertical	(in thousands)
Tech, Media and Telecom	$	67,689	$	45,362	$	32,337
Retail	61,717		33,975		67,367
Finance	17,515		13,589		12,479
CPG/Manufacturing	43,461		14,202		4,850
Other	20,898		4,155		1,293
Total Revenues	$	211,280	$	111,283	$	118,326

The following table shows the disaggregation of the Company’s revenues by contract types for the years ended December 31, 2021, 2020 and 2019:

	For the years ended December 31,
	2021		2020		2019
Contract Type	(in thousands)
Time-and-material	$	194,926	$	105,578	$	116,825
Fixed-fee	16,354		5,705		1,501
Total Revenues	$	211,280	$	111,283	$	118,326

Contract balances

A contract asset is a right to consideration that is conditional upon factors other than the passage of time. A contract liability, or deferred revenue, consist of advance payments and billings in excess of revenues recognized. As of December 31, 2021 and 2020 the Company did not have material contract assets or liabilities recognized in consolidated financial statements.

Remaining performance obligation

ASC 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of December 31, 2021. This disclosure is not required for:

1)contracts with an original duration of one year or less, including contracts that can be terminated for convenience without a substantive penalty,

2)contracts for which the Company recognizes revenues based on the right to invoice for services performed,

3)variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with ASC 606-10-25-14(b), for which the criteria in ASC 606-10-32-40 have been met, or

4)variable consideration in the form of a sales-based or usage-based royalty promised in exchange for a license of intellectual property.

All of the Company’s contracts met one or more of these exemptions as of December 31, 2021.