Revenue

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Cypress Holdings Inc And Subsidiaries [Member]

Disaggregation of Revenue [Line Items]

Revenue

3. REVENUE

The opening and closing balances of the Company’s receivables, contract assets and contract liabilities from contracts with customers are as follows (in thousands):

	June 30,     2021		December 31, 2020
Accounts receivables-Net of allowances	$	81,817	$	74,107
Deferred contract costs		12,681		11,917
Long-term deferred contract costs		15,986		14,389
Deferred revenues		28,824		26,514
Other liabilities (deferred revenues, non-current)		1,932		2,001

A summary of the activity impacting deferred revenue balances during the three and six months ended June 30, 2021 and 2020, is presented below (in thousands):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2021			2020			2021			2020
Balance at beginning of period	$	30,109		$	27,874		$	28,515		$	26,256
Revenue recognized1		(82,159	)		(71,159	)		(163,121	)		(148,065	)
Additional amounts deferred1		82,806			71,963			165,362			150,487
Balance at end of period	$	30,756		$	28,678		$	30,756		$	28,678

1  Amounts include total revenue deferred and recognized during each respective period.

The Company may occasionally recognize an adjustment in revenue in the current period for performance obligations partially or fully satisfied in the previous periods resulting from changes in estimates for the transaction price, including any changes to the Company’s assessment of whether an estimate of variable consideration is constrained. For the three and six months ended June 30, 2021 and 2020, the impact on revenue recognized in the current period, from performance obligations partially or fully satisfied in the previous period, was not significant.

A summary of the activity impacting the deferred contract costs during the three and six months ended June 30, 2021 and 2020 is presented below (in thousands):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2021			2020			2021			2020
Balance at beginning of period	$	26,554		$	23,608		$	26,361		$	23,270
Costs amortized		(3,612	)		(2,957	)		(7,317	)		(6,053	)
Additional amounts deferred		5,725			3,433			9,623			6,867
Balance at end of period	$	28,667		$	24,084		$	28,667		$	24,084
Classified as:
Current	$	12,681		$	10,679		$	12,681		$	10,679
Non-current		15,986			13,405			15,986			13,405
Total deferred contract costs	$	28,667		$	24,084		$	28,667		$	24,084

3. REVENUE

On January 1, 2019, the Company adopted Topic 606, applying the modified retrospective method to all contracts that were not completed as of that date. Results for reporting periods beginning after January 1, 2019 are presented under Topic 606 while prior period results are not adjusted and continue to be reported under the accounting standards in effect for the prior period. There was no impact to revenue for the year ended December 31, 2019 as a result of adopting Topic 606.

The opening and closing balances of the Company’s receivables, contract assets and contract liabilities from contracts with customers are as follows (in thousands):

	December 31, 2020		December 31, 2019		January 1, 2019
Accounts receivables-Net of allowances	$	74,107	$	63,613	$	59,252
Deferred contract costs		11,917		10,807		6,526
Long-term deferred contract costs		14,389		12,463		9,432
Deferred revenues		26,514		25,096		22,787
Other liabilities (deferred revenues, non-current)		2,001		1,160		—

A summary of the activity impacting deferred revenue balances during the years ended December 31, 2020 and 2019 is presented below (in thousands):

	2020			2019
Balance at beginning of period	$	26,256		$	22,787
Revenue recognized1		(305,812	)		(283,383	)
Additional amounts deferred1		308,071			286,852
Balance at end of period	$	28,515		$	26,256

1Amounts include total revenue deferred and recognized during each respective period.

The Company may occasionally recognize an adjustment in revenue in the current period for performance obligations partially or fully satisfied in the previous periods resulting from changes in estimates for the transaction price, including any changes to the Company’s assessment of whether an estimate of variable consideration is constrained. For the years ended December 31, 2020 and 2019, the impact on revenue

recognized in the current period, from performance obligations partially or fully satisfied in the previous period, was not significant.

A summary of the activity impacting the deferred contract costs during the years ended December 31, 2020 and 2019 is presented below (in thousands):

	2020			2019
Balance at beginning of period	$	23,270		$	—
Adoption of ASC 606		—			15,958
Costs amortized		(12,446	)		(9,375	)
Additional amounts deferred		15,482			16,687
Balance at end of period	$	26,306		$	23,270
Classified as:
Current	$	11,917		$	10,807
Non-current		14,389			12,463
Total deferred contract costs	$	26,306		$	23,270