|9 Months Ended|
Sep. 30, 2021
|Revenue from Contract with Customer [Abstract]|
The following table provides information about accounts receivable, net, and contract liabilities from contracts with customers. The Company did not have any contract assets as of September 30, 2021 or December 31, 2020 (dollars in thousands):
Changes in the contract liabilities balances are as follows (dollars in thousands):
The decrease in deferred revenue was due to billings in advance of performance obligations being satisfied, net of revenue recognized for services rendered during the period. Revenue of $0.1 million and $1.1 million
was recognized during the three and nine months ended September 30, 2021, respectively, which were included in the deferred revenue balance at the beginning of the period.
Remaining Performance Obligations
Remaining performance obligations represent the contracted minimum usage commitments and do not include an estimate of additional usage in excess of contractual minimum commitments. The Company’s contract terms typically range from to three years. Revenue as of September 30, 2021 that has not yet been recognized was approximately $154.4 million, of which $77.7 million and $76.7 million are expected to be recognized as revenue within one year and beyond one year, respectively. The Company expects to recognize revenue on the remaining performance obligations over the next 69 months.
The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef