Annual report pursuant to Section 13 and 15(d)

Revenue

v3.23.1
Revenue
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue

Note 10 – Revenue

 

The Company had net revenue for the years ended December 31, 2022 and 2021 as follows:

 

    2022     2021  
    Year Ended December 31,  
    2022     2021  
Dashboards   $ 47,682     $ 69,258  
IT Managed Services     93,288       102,960  
Software and Interfaces     18,080       58,599  
Support and Maintenance     57,985       95,355  
vCIO Services     49,098       65,313  
Software Licenses Fees     70,548       74,618  
Other     6,759       2,780  
Total Net Revenue   $ 343,440     $ 468,883  

 

Generally, work is billed monthly by subscription with increases applied per user license. There is a discounted rate should the annual maintenance fee be paid up front.

 

For all of the Company’s services, the Company typically has one performance obligation; however, it also provides the customer with an option to acquire additional services. The Company typically provides a menu of offerings from which the customer may choose to purchase. The price of each service is separate and distinct and provides a separate and distinct value to the customer. Pricing is generally consistent for each service irrespective of the other services or quantities requested by the customer.

 

 

When the Company receives consideration from a customer prior to transferring services to the customer under the terms of the contract, it records deferred revenues on the Company’s consolidated balance sheet, which represents a contract liability.

 

The Company has an internal sales force compensation program where remuneration is based solely on the revenues recognized in the period and does not represent an incremental cost to the Company which provides a future benefit expected to be longer than one year and would meet the criteria to be capitalized and presented as a contract asset on the Company’s consolidated balance sheet.