Significant Customers & Concentration of Credit Risk

9 Months Ended

Sep. 30, 2019

Risks and Uncertainties [Abstract]

Significant Customers & Concentration of Credit Risk

Significant Customers & Concentration of Credit Risk

We have a market concentration of revenue in both the automotive sector and financial & insurance sector. Revenue from the automotive sector accounted for approximately 28% and 21% of our consolidated revenue for the nine months ended September 30, 2019 and 2018, respectively. In addition, we have a concentration of revenue from a single automotive customer, which accounted for approximately 13% and 14% of our consolidated revenue for the nine months ended September 30, 2019 and 2018, respectively. As of September 30, 2019, accounts receivable from a single automotive customer totaled $12.3 million, or 11%, of our consolidated accounts receivable balance.

Revenue from the financial & insurance sector accounted for approximately 17% and 20% of our consolidated revenue for the nine months ended September 30, 2019 and 2018, respectively. In addition, we have a concentration of revenue from a single financial services customer, which accounted for approximately 11% and 14% of our consolidated revenue for the nine months ended September 30, 2019 and 2018, respectively. As of September 30, 2019, billed and unbilled accounts receivable from a single financial services customer totaled $17.5 million, or 10%, of our consolidated accounts receivable and unbilled revenue balances.

No other single customer accounted for more than 10% of our consolidated revenue for the nine months ended September 30, 2019 or 2018 or consolidated accounts receivable balance as of September 30, 2019.