Revenue and Contract Balances |
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Revenue and Contract Balances | REVENUE AND CONTRACT BALANCES Disaggregation of Revenue The following table summarizes revenue by geography based on the shipping address of end customers who have contracted to use our platform for the periods presented (in thousands, except percentages):
No single country other than the United States represented 10% or more of our revenue during the three months ended April 30, 2023 and 2022. The following table summarizes revenue from contracts by type of customer for the periods presented (in thousands, except percentages):
Contract Balances Contract assets consist of unbilled accounts receivable, which arise when a right to consideration for our performance under the customer contract occurs before invoicing the customer. The amount of unbilled accounts receivable included within accounts receivable, net on the condensed consolidated balance sheets was $2.9 million and $1.5 million as of April 30, 2023 and January 31, 2023, respectively. Contract liabilities consist of deferred revenue, which represents invoices billed in advance of performance under a contract. Deferred revenue is recognized as revenue over the contractual period. The deferred revenue balance was $408.5 million and $406.3 million as of April 30, 2023 and January 31, 2023, respectively. We recognized revenue of $100.3 million and $60.0 million during the three months ended April 30, 2023 and 2022, respectively, that was included in the corresponding contract liability balance at the beginning of the period. Remaining Performance Obligations Our contracts with customers typically range from to three years. Revenue allocated to remaining performance obligations represents non-cancelable contract revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced in future periods. As of April 30, 2023, our remaining performance obligations were $603.7 million, of which we expect to recognize 88% as revenue over the next 24 months, with the remainder to be recognized thereafter. Capitalized contract costs were $94.8 million and $93.4 million as of April 30, 2023 and January 31, 2023, respectively. Amortization expense of contract costs was $10.7 million and $8.0 million during the three months ended April 30, 2023 and 2022, respectively. We periodically review deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. We did not recognize any impairment of deferred contract acquisition costs during the three months ended April 30, 2023 and 2022.
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