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
4. Revenue
Disaggregation of Revenue
The Company earns revenue through the sale of imagery and software analytical services and engineering and systems integration. The Company’s management primarily disaggregates revenue as follows: (i) imagery; (ii) data, software and analytics; and (iii) engineering and integration. This disaggregation allows the Company to evaluate market trends in certain imagery and software analytical services and engineering and systems integration services. These offerings currently have both recurring and non-recurring price attributes, particularly the engineering and systems integration offerings.
The following table disaggregates revenue by type of imagery and software analytical services and engineering and integration for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31,
2022 2021
(in thousands)
Imagery $ 3,610  $ 1,464 
Data, software and analytics 6,162  4,534 
Engineering & integration 4,124  1,296 
Total revenue $ 13,896  $ 7,294 
The approximate revenue based on geographic location of customers is as follows for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31,
2022 2021
(in thousands)
US $ 11,147  $ 6,123 
Middle East 594  686 
Asia 1,994  458 
Other 161  27 
Total revenue $ 13,896  $ 7,294 
Revenue from significant customers for the three months ended March 31, 2022 and 2021 is as follows:
Three Months Ended March 31,
2022 2021
(in thousands)
U.S. federal government and agencies $ 11,063  $ 6,119 
International government 2,745  1,175 
Commercial and other 88  — 
Total revenue $ 13,896  $ 7,294 
As of March 31, 2022 and December 31, 2021, accounts receivable consisted of the following:
March 31, December 31,
2022 2021
(in thousands)
U.S. federal government and agencies $ 2,091  $ 2,576 
International government 3,258  76 
Commercial and other 150  16 
Allowance for doubtful accounts (8) (39)
Total accounts receivable $ 5,491  $ 2,629 
Remaining Performance Obligations

As of March 31, 2022, the Company had $24.7 million of remaining performance obligations, which represents the transaction price of executed contracts less inception to date revenue recognized. Remaining performance obligations exclude unexercised contract options. The Company expects to recognize revenue relating to remaining funded contractual performance obligations, of which a portion is recorded in deferred revenue in the unaudited condensed consolidated balance sheets, of $20.1 million, $4.4 million, and $0.2 million in the nine months ending December 31, 2022, fiscal year 2023, and thereafter, respectively.