Revenue from Contracts with Customers (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Revenue from Contract with Customer [Abstract] |
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| Schedule of Revenues Disaggregated by Type of Services Performed |
The table below presents the Company’s revenues disaggregated by type of services performed.
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Three Months Ended March 31, |
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2025 |
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2024 |
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Software revenue |
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$ |
30,938 |
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$ |
29,688 |
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Payment revenue |
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|
75,940 |
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|
75,202 |
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Services revenue |
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1,064 |
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|
708 |
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Total revenues |
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$ |
107,942 |
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$ |
105,598 |
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| Information on Accounts Receivable and Contract Liabilities |
The table below presents information on accounts receivable and contract liabilities.
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As of March 31, 2025 |
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As of December 31, 2024 |
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Trade accounts receivable, net |
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$ |
20,719 |
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$ |
19,989 |
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Payment processing receivable, net |
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32,720 |
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31,682 |
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Accounts receivable, net |
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$ |
53,439 |
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$ |
51,671 |
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Contract liabilities |
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$ |
25,817 |
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$ |
25,823 |
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| Significant Changes in Contract Liabilities Balance |
Significant changes in the contract liabilities balance are as follows:
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Three Months Ended March 31, |
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2025 |
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2024 |
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Revenue recognized included in beginning of period balance |
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$ |
(3,047 |
) |
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$ |
(3,473 |
) |
Cash received, excluding amounts recognized as revenue during the period |
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3,041 |
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2,143 |
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| Summary of Changes in Allowance for Credit Losses And Returns |
The tables below present a summary of changes in the Company’s allowances for credit losses and returns for the three months ended March 31, 2025 and 2024:
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Accounts Receivable |
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Allowance for Credit Losses |
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Allowance for Returns |
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Supplier Advances Receivable Allowance |
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Allowance balance, December 31, 2024 |
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$ |
2,498 |
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$ |
1,781 |
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$ |
1,644 |
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Amounts charged to contra revenue, cost of revenues and expenses |
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250 |
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1 |
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404 |
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Amounts written off as uncollectable |
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(294 |
) |
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- |
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(602 |
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Recoveries of amounts previously written off |
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- |
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- |
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147 |
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Deduction released to revenue |
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- |
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- |
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- |
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Allowance balance, March 31, 2025 |
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$ |
2,454 |
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$ |
1,782 |
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$ |
1,593 |
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Accounts Receivable |
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Allowance for Credit Losses |
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Allowance for Returns |
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Supplier Advances Receivable Allowance |
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Allowance balance, December 31, 2023 |
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$ |
2,142 |
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$ |
2,089 |
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$ |
1,333 |
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Amounts charged to contra revenue, cost of revenues and expenses |
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254 |
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(200 |
) |
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86 |
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Amounts written off as uncollectable |
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(14 |
) |
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- |
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(475 |
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Recoveries of amounts previously written off |
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- |
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- |
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347 |
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Deduction released to revenue |
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- |
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- |
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- |
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Allowance balance, March 31, 2024 |
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$ |
2,382 |
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$ |
1,889 |
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$ |
1,291 |
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| Schedule of Remaining Performance Obligation |
Remaining performance obligation consisted of the following:
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Current |
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Noncurrent |
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Total |
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As of March 31, 2025 |
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$ |
15,223 |
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$ |
19,771 |
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$ |
34,994 |
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As of December 31, 2024 |
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15,805 |
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20,946 |
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36,751 |
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| Information about Deferred Contract Costs |
The following tables present information about deferred contract costs:
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Three Months Ended March 31, |
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2025 |
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2024 |
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Capitalized sales commissions and implementation costs |
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$ |
3,154 |
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$ |
2,653 |
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Amortization of deferred contract costs |
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Costs to obtain contracts included in sales and marketing expense |
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$ |
1,761 |
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$ |
1,551 |
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Costs to fulfill contracts included in cost of revenue |
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$ |
1,374 |
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$ |
1,549 |
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