Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.22.1
Revenue
3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue RevenueThe Company generates revenue through the sale of enterprise video content management software, hardware, maintenance and support, and professional and other services. Software sales may take the form of a cloud-hosted software as a service (SaaS), term software license or perpetual software license. Software licenses and appliances revenue includes sales of perpetual software licenses, term software licenses and hardware. Service revenue includes SaaS, maintenance and support, and professional and other services.
Revenues by product category and geography
The Company combines its products and services into four product categories and three geographic regions, based on customer location, as follows (in thousands):
  Three Months Ended
 March 31,
  2022 2021
Software licenses and appliances $ 111  $ 108 
Service
Subscription and support 2,655  2,315 
Maintenance and support 1,793  2,664 
Subscription, maintenance and support 4,448  4,979 
Professional services and other 381  733 
Total service 4,829  5,712 
Total revenues $ 4,940  $ 5,820 

Three Months Ended
 March 31,
  2022 2021
North America $ 3,278  $ 3,938 
Europe 1,378  1,621 
Asia 284  261 
Total $ 4,940  $ 5,820 
Contract Balances
The Company’s balances for contract assets totaled $563,000 and $446,000 as of March 31, 2022 and December 31, 2021, respectively. The Company’s balances for contract liabilities, which are included in deferred revenue, totaled $11.3 million and $12.4 million as of March 31, 2022 and December 31, 2021, respectively.
During the three months ended March 31, 2022 and 2021, the Company recognized $4.4 million and $4.5 million, respectively, of revenue that was included in the deferred revenue balance at the beginning of each respective period. All other activity in deferred revenue is due to the timing of invoices in relation to the timing of recognizable revenue as described above.
Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $24.4 million as of March 31, 2022, of which the Company expects to recognize $12.7 million of revenue over the next 12 months and the remainder thereafter. During the three months ended March 31, 2022 and 2021, no revenue was recognized from performance obligations satisfied in previous periods.