Quarterly report pursuant to Section 13 or 15(d)

Revenues

v3.22.2.2
Revenues
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenues

Note 10 – Revenues

 

The Company had net revenues for the three and nine months ended September 30, 2022 and 2021 as follows:

 

    Three Months Ended     Three Months Ended  
    September 30,     September 30,  
    2022     2021  
Dashboards   $ 10,925     $ 21,511  
IT Managed Services     21,059       25,740  
Software and Interfaces     12,500       29,400  
Support and Maintenance     14,603       24,853  
vCIO Services     1,963       5,513  
Software License Fees     16,977       15,747  
Other     —       6,662  
Total Net Revenues   $ 78,027     $ 129,426  

 

    Nine Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2022     2021  
Dashboards   $ 35,026     $ 49,663  
IT Managed Services     69,420       77,220  
Software and Interfaces     12,500       38,040  
Support and Maintenance     67,399       71,251  
vCIO Services     29,394       50,512  
Software License Fees     47,721       58,871  
Other     6,970       7,036  
Total Net Revenues   $ 268,430     $ 352,593  

 

Generally, work is billed monthly by the hour at agreed upon hourly rates for all of the above revenue streams.

 

 

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.