Revenue (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Summary of Revenue Disaggregated By Major Service Line and Timing of Revenue Recognition

The Company’s operations and main revenue streams are those described in Note 33(C) to the 2021 Annual Financial Statements. All of the Company’s revenue is derived from contracts with customers.

In the following tables, revenue is disaggregated by major service line and timing of revenue recognition.

		Three months ended March 31,
		2022		2021
AssetCare initialization 1	$	414,491	$	515,243
AssetCare over time 2		3,989,128		6,434,509
Engineering services 3		25,984		485,814
	$	4,429,603	$	7,435,566

Revenues from initial implementation and activation of AssetCare projects, including the sale of

hardware.

Revenues include sales of subscriptions to AssetCare, other subscriptions, post contract support and maintenance, perpetual software licenses, and installation and engineering services.

Revenues includes consulting, implementation and integration services entered into on a time and materials basis or fixed fee basis without the use of AssetCare.

		Three months ended March 31,
Revenue recognized		2022		2021
Over time	$	3,862,204	$	5,448,710
At a point in time upon completion		567,399		1,986,856
	$	4,429,603	$	7,435,566

The Company’s operations and main revenue streams are those described in Note 32(C). All of the Company’s revenue is derived from contracts with customers.

In the following tables, revenue is disaggregated by major service line and timing of revenue recognition.



	Year ended December 31,

	2021		2020		2019

AssetCare initialization 1	$	1,250,181	$	7,689,232	$	5,964,663

AssetCare over time 2		23,461,748		12,809,054		2,939,582

Engineering services 3		885,043		6,430,153		9,436,004

	$	25,596,972	$	26,928,439	$	18,340,249

Revenues from initial implementation and activation of AssetCare projects, including the sale of hardware.

Revenues include sales of subscriptions to AssetCare, other subscriptions, post contract support and maintenance, perpetual software licenses, and installation and engineering services.

Revenues includes consulting, implementation and integration services entered into on a time and materials basis or fixed fee basis without the use of AssetCare.

	Year ended December 31,

Timing of revenue recognition	2021		2020		2019

Over time	$	24,422,749	$	18,551,736	$	12,375,586

At a point in time upon completion		1,174,223		8,376,703		5,964,663

	$	25,596,972	$	26,928,439	$	18,340,249

Summary of Significant Changes in Unbilled Revenue and Deferred Revenue Balances

Significant changes in unbilled revenue and deferred revenue balances are as

follows:

		Unbilled revenue			Deferred revenue
Balance at December 31, 2021	$	756,042		$	2,811,408
Additions		701,415			3,878,164
Less: transferred to trade and other receivables		(365,250	)		—
Less: recognized in revenue		—			(2,008,935	)
Effect of movements in exchange rates		—			13,813
Balance at March 31, 2022	$	1,092,207		$	4,694,450

Significant changes in unbilled revenue and deferred revenue balances are as follows:



	Unbilled revenue			Deferred revenue

Balance at January 1, 2019	$	—		$	133,678

Acquired in business combination (Note 17(c))		2,347,207			133,556

Acquired in business combination (Note 17(b))		—			457,259

Additions		9,595,535			5,309,436

Less: transferred to trade and other receivables		(11,278,312	)		—

Less: recognized in revenue		—			(4,878,419	)

Less: Loss allowance		(5,499	)		—

Effect of movement in exchange rates		—			(17,229	)

Balance at December 31, 2019	$	658,931		$	1,138,281

Acquired in business combination		117,686			–

Additions		11,478,436			6,316,586

Less: transferred to trade and other receivables		(11,557,665	)		–

Less: write-offs		(146,489	)		–

Less: recognized in revenue		–			(5,612,896	)

Less: applied to outstanding trade receivables		–			(30,586	)

Effect of movement in exchange rates		3,841			(40,265	)

Balance at December 31, 2020	$	554,740		$	1,771,120

Additions		7,470,881			10,616,893

Less: transferred to trade and other receivables		(7,269,579	)		–

Less: recognized in revenue		–			(9,585,211	)

Effect of movement in exchange rates		–			8,606

Balance at December 31, 2021 1	$	756,042		$	2,811,408

Summary of Company's Revenue and Non-current Assets

The Company’s revenue by location of the ultimate customer or consumer of product solution are as

follows:

		Three months ended March 31,
		2022		2021
Canada	$	2,038,976	$	4,411,599
Americas		1,520,075		1,249,604
Asia Pacific		677,868		1,718,738
Other		192,684		55,625
Total revenue	$	4,429,603	$	7,435,566

The Company’s revenue by location of the ultimate customer or consumer of product solution are as follows:



	Year ended December 31,

	2021		2020		2019

Canada	$	10,733,922	$	13,832,691	$	10,889,542

United States		6,564,271		5,691,202		7,450,707

Japan		5,849,967		6,446,939		–

Australia		993,933		152,301		–

Other		1,454,879		805,306		–

Total revenue	$	25,596,972	$	26,928,439	$	18,340,249