(11)

Revenue Disaggregation

The following table presents the Company’s revenue disaggregated by geography:

Year Ended

December 31, 

    

2024

    

2023

United States

$

6,887

$

7,134

Australia

392

526

Europe

687

956

Rest of world

40

62

Total revenue

$

8,006

$

8,678

Historical Timeline

Fiscal YearFiled
2024Apr 4, 2025Showing above
2023Apr 1, 2024
2022Apr 17, 2023
2021Apr 8, 2022

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.