Revenue Recognition

6 Months Ended

Sep. 30, 2021

Revenue Recognition [Abstract]

Revenue Recognition

3. Revenue Recognition

We generate most of our solutions revenue using technology solutions (generally Software as a Service (“SaaS”)) to provide services to our customers that automate and simplify business and administrative functions for payers, providers, pharmacies, and channel partners and through the licensing of software, software systems (consisting of software, hardware and maintenance support) and content. We recognize revenue when the customer obtains control of the good or service through satisfying a performance obligation by transferring the promised good or service to the customer.

Contract Balances

As of September 30, 2021, we expect 94% of the deferred revenue balance to be recognized in one year or less. Approximately $273,517 of the balance at the beginning of fiscal year 2022 was recognized during the six months ended September 30, 2021. Approximately $202,837 of the balance at the beginning of fiscal year 2021 was recognized during the six months ended September 30, 2020.

Remaining Performance Obligations

The aggregate amount of transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) for executed contracts includes deferred revenue and other revenue yet to be recognized from non-cancellable contracts. As of September 30, 2021, remaining performance obligations totaled $1,380,210, of which 51% is expected to be recognized over the next 12 months, and the remaining 49% thereafter.

In this balance, we do not include the value of unsatisfied performance obligations related to those contracts for which we recognize revenue at the amount for which we have the right to invoice for services performed. Additionally, this balance does not include revenue related to performance obligations that are part of a contract with an original expected duration of one year or less. Lastly, this balance does not include variable consideration allocated to the individual goods or services in a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer. Examples includes variable fees associated with transaction processing and contingent fee services.

Disaggregated Revenue

We disaggregate the revenue from contracts with customers by operating segment as we believe doing so best depicts how the nature, amount, timing and uncertainty of revenues are affected by economic factors. See Note 16, Segment Reporting, for total revenue disaggregated by operating segment for the three and six months ended September 30, 2021 and 2020.

In addition to disaggregating revenue by operating segment, we disaggregate between revenue that is recognized over time and revenue that is recognized at a point in time. For the three and six months ended September 30, 2021, 98% and 96% of revenue was recognized over time, respectively, and 2% and 4% of revenue was recognized at a point in time, respectively. For the three and six months ended September 30, 2020, 97% and 94% of revenue was recognized over time, respectively, and 3% and 6% of revenue was recognized at a point in time, respectively.