Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.23.1
Revenue
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue

Note 10 – Revenue

 

The Company had net revenue for the three months ended March 31, 2023 and 2022 as follows:

 

    2023     2022  
    March 31,     March 31,  
    2023     2022  
             
Dashboards   $ 9,900     $ 13,623  
IT Managed Services     30,108       25,740  
Software and Interfaces     12,120       —  
Support and Maintenance     46,330       25,840  
vCIO Services     42,445       14,191  
Software Licenses Fees    

26,252

       15,497  
Other    

8,760

       1,002  
Total Net Revenue   $ 175,915     $ 95,893  

 

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.