Significant Customers & Concentration of Credit Risk

3 Months Ended

Mar. 31, 2021

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 23% and 25% of our consolidated revenue for the three months ended March 31, 2021 and 2020, 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 three months ended March 31, 2021 and 2020, respectively. As of March 31, 2021, accounts receivable from a single automotive customer totaled $12.5 million, or 14%, of our consolidated accounts receivable balance.

Revenue from the financial & insurance sector accounted for approximately 17% and 16% of our consolidated revenue for the three months ended March 31, 2021 and 2020, respectively. In addition, we have a concentration of revenue from a single financial services customer, which accounted for approximately 9% of our consolidated revenue for the three months ended March 31, 2021 and 2020. As of March 31, 2021, billed and unbilled accounts receivable from a single financial services customer totaled $10.4 million, or 8%, of our consolidated accounts receivable and unbilled revenue balances.

No other single customer accounted for more than 10% of our consolidated revenue for the three months ended March 31, 2021 or 2020 or consolidated accounts receivable balance as of March 31, 2021.