Segment and Geographic Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment and Geographic Information

18. Segment and Geographic Information

Segment Information

The Company has determined that its CEO is its CODM and the Company is organized into two reportable segments: Enterprise Solutions and SMB Solutions. The reportable segments were determined based on how the CODM reviews business performance and makes decisions about resources to be allocated.

The Enterprise Solutions segment is primarily engaged in providing SaaS solutions that simplify customer-client engagement primarily through electronic billing and digital payments. Enterprise solutions are built to address the unique needs of specific verticals: Government, Utilities, Financial Services, Healthcare and Giving. For the Enterprise Solutions segment, the Company integrates directly with its customers’ core software systems and utilizes a partner-assisted direct sales model for purposes of its go-to-market strategy. The Company generates a significant majority of its revenue in this segment from transaction and usage-based revenue. For the year ended December 31, 2021, this segment generated 50% of total revenue.

The SMB Solutions segment is primarily engaged in providing end-to-end practice management solutions geared toward the Health & Wellness industry. For the Company's SMB Solutions segment, the Company primarily relies on a free trial to

paid customer sales model. The Company generates interest for its offerings in the Company's SMB Solutions segment through a combination of search engine optimization, word-of-mouth, paid customer referrals, and search engine marketing. The Company generate a majority of its revenue in this segment from subscription revenue. For the year ended December 31, 2021, this segment generated 50% of total revenue.

The CODM evaluates segment operating performance using revenue and Adjusted EBITDA, as defined below, from reportable segments to make resource allocation decisions and to evaluate segment performance. Adjusted EBITDA assists management in comparing the Company’s performance on a consistent basis for purposes of business decision-making. The Company defines Adjusted EBITDA as net loss excluding interest expense, net; benefit for income taxes; depreciation; and amortization of intangible assets, as further adjusted for transaction-related expenses, fair value adjustment of acquired deferred revenue, stock/equity-based compensation, and restructuring (reversal) charges. Adjusted EBITDA from reportable segments excludes unallocated corporate costs which are primarily comprised of costs for accounting, finance, legal, human resources and costs for certain executives supporting overall business strategy and execution.

The following table sets forth the revenue and Adjusted EBITDA results attributable to each reportable segment and includes a reconciliation of the totals reported for the reportable segments to the applicable line items on the Company’s accompanying consolidated statements of operations and comprehensive loss (in thousands):

	Year Ended December 31,
	2021			2020
Revenue
Enterprise Solutions	$	107,549		$	83,944
SMB Solutions		108,731			62,613
Total revenue		216,280			146,557
Adjusted EBITDA
Enterprise Solutions		14,255			11,997
SMB Solutions		35,373			21,122
Total Adjusted EBITDA from reportable segments		49,628			33,119
Unallocated corporate expenses		(18,983	)		(11,080	)
Total Adjusted EBITDA		30,645			22,039
Reconciling items:
Interest expense, net		(8,213	)		(9,903	)
Amortization of intangible assets		(15,602	)		(15,523	)
Depreciation		(2,588	)		(1,288	)
Transaction-related expenses		(4,422	)		(1,011	)
Fair value adjustment of acquired deferred revenue		(180	)		(543	)
Stock/equity-based compensation		(9,468	)		(641	)
Restructuring reversal (charges)		241			(2,434	)
Loss before income taxes		(9,587	)		(9,304	)
Benefit from income taxes		(622	)		(2,626	)
Net loss	$	(8,965	)	$	(6,678	)

The Company’s CODM does not separately evaluate assets by segment, and therefore assets by segment are not presented.

Geographic Information

For the years ended December 31, 2021 and 2020, revenues by geographic region are not disclosed as revenue outside the United States does not exceed 10% of total revenue. The Company does not disclose geographic information for long-lived assets as long-lived assets located outside the United States do not exceed 10% of total assets.