Revenue and Deferred Revenue

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue and Deferred Revenue

NOTE 4. REVENUE AND DEFERRED REVENUE

Disaggregation of Revenue

In the following tables, revenue is disaggregated by primary geographical market and type of revenue.

	For the three months ended June 30,				For the six months ended June 30,
	2022		2021		2022		2021
Revenue by geography
United States	$	41,933	$	21,112	$	78,380	$	39,861
International		476		565		1,388		976
Total revenue	$	42,409	$	21,677	$	79,768	$	40,837
	For the three months ended June 30,				For the six months ended June 30,
	2022		2021		2022		2021
Revenue by type
Hardware	$	20,895	$	14,029	$	43,009	$	26,427
Professional services		9,123		3,564		16,032		7,165
Hosted services		12,391		4,084		20,727		7,245
Total revenue	$	42,409	$	21,677	$	79,768	$	40,837

Remaining Performance Obligations

Advance payments received from customers are recorded as deferred revenue and are recognized upon the completion of related performance obligations over the period of service. Advance payments for the hardware hub device are recorded as deferred revenue and recognized over the average in-service life of the hub. Advance payments received from customers for subscription services are recorded as deferred revenue and recognized over the term of the subscription. A summary of the change in deferred revenue is as follows.

	For the six months ended June 30,
	2022			2021
Deferred revenue balance as of January 1	$	95,597		$	53,501
Revenue recognized from balance of deferred revenue       at the beginning of the period		(6,864	)		(3,992	)
Revenue deferred during the period		30,247			18,420
Revenue recognized from revenue originated      and deferred during the period		(2,208	)		(3,922	)
Deferred revenue balance as of March 31		116,772			64,007
Revenue recognized from balance of deferred revenue       at the beginning of the period		(11,051	)		(3,270	)
Revenue deferred during the period		23,879			17,346
Revenue recognized from revenue originated      and deferred during the period		(4,155	)		(3,578	)
Deferred revenue balance as of June 30	$	125,445		$	74,505

As of June 30, 2022, the Company expects to recognize 61% of its total deferred revenue within the next 12 months, 17% of its total deferred revenue between 13 and 36 months, 21% between 37 and 60 months and 1% is expected to be recognized beyond five years.

Deferred cost of revenue includes all direct costs included in cost of revenue that have been deferred to future periods.