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Revenue from Contracts with Customers
9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
Disaggregation of Revenue
We disaggregate revenue by service type and by platform, respectively, as follows (in thousands):
Service TypeThree Months Ended
September 30, 2023
Three Months Ended
September 30, 2022
Nine Months Ended
September 30, 2023
Nine Months Ended
September 30, 2022
Transaction revenue(a)
$198,526 $6,927 $548,774 $21,477 
Subscription and service revenue6,248 6,286 16,848 18,839 
Total revenue$204,774 $13,213 $565,622 $40,316 
(a)Amounts are net of rebates and incentive payments of less than $0.1 million for both the three and nine months ended September 30, 2023, respectively, and less than $0.1 million and $0.4 million for the three and nine months ended September 30, 2022, respectively. Included in these amounts are amounts earned from related parties of less than $0.1 million for both the three and nine months ended September 30, 2023 and September 30, 2022, respectively.
PlatformThree Months Ended
September 30, 2023
Three Months Ended
September 30, 2022
Nine Months Ended
September 30, 2023
Nine Months Ended
September 30, 2022
Loyalty redemption platform$13,024 $12,742 $38,096 $38,852 
Crypto services(b)
191,750 471 527,526 1,464 
Total revenue$204,774 $13,213 $565,622 $40,316 
(b)Amounts are net of rebates and incentive payments of less than $0.1 million for both the three and nine months ended September 30, 2023, respectively, and less than $0.1 million and $0.4 million for the three and nine months ended September 30, 2022, respectively. Included in these amounts are amounts earned from related parties of less than $0.1 million for both the three and nine months ended September 30, 2023 and September 30, 2022, respectively.
We recognized revenue from foreign jurisdictions of $1.1 million and $2.8 million for the three and nine months ended September 30, 2023, respectively, and $0.8 million and $2.8 million for the three and nine months ended September 30, 2022, respectively.
We have one reportable segment to which our revenues relate.
Deferred Revenue
Contract liabilities consist of deferred revenue for amounts invoiced prior to us meeting the criteria for revenue recognition. We invoice customers for service fees at the time the service is performed, and such fees are recognized as revenue over time as we satisfy its performance obligation. Contract liabilities are classified as “Deferred revenue, current” and “Deferred revenue, noncurrent” in our consolidated balance sheets. The activity in deferred revenue for the nine months ended September 30, 2023 and September 30, 2022, respectively, was as follows (in thousands):

Nine Months Ended
September 30, 2023
Nine Months Ended
September 30, 2022
Beginning of the period contract liability$7,084 

$9,448 
Revenue recognized from contract liabilities included in the beginning balance(3,055)

(3,629)
Increases due to cash received, net of amounts recognized in revenue during the period3,191 

1,596 
End of the period contract liability$7,220 

$7,415 
Remaining Performance Obligations
As of September 30, 2023, the aggregate amount of the transaction price allocated to the remaining performance obligations related to partially completed contracts is $20.5 million, comprised of $13.3 million of subscription fees and $7.2 million of service fees that are deferred. We recognize our subscription fees as revenue over a weighted-average period of 29 months (ranges from 1 month – 36 months) and our service fees as revenue over approximately 14 months.
As of September 30, 2022, the aggregate amount of the transaction price allocated to the remaining performance obligations related to partially completed contracts is $21.9 million, comprised of $14.5 million of subscription fees and $7.4 million of service fees that are deferred. We recognize our subscription fees as revenue over a weighted-average period of 41 months (ranges from 3 months – 48 months) and our service fees as revenue over approximately 24 months.
Contract Costs
For the three and nine months ended September 30, 2023 and September 30, 2022, we incurred no incremental costs to obtain and/or fulfill contracts with customers.