| Revenue |
(12) Revenue
Disaggregated Revenue and Geography Information
The following is a summary of revenues by type for the three and six months ended July 31, 2022 (Successor) and for the periods from June 12, 2021 through July 31, 2021 (Successor), May 1, 2021 through June 11, 2021 (Predecessor (SLH)) and February 1, 2021 (Predecessor (SLH)) through June 11, 2021 (Predecessor (SLH)) (in thousands):
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Quarter to Date Results |
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Year to Date Results |
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Fiscal 2023 |
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Fiscal 2022 |
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Fiscal 2023 |
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Fiscal 2022 |
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Successor |
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Successor |
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Predecessor (SLH) |
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Successor |
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Successor |
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Predecessor (SLH) |
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Three Months |
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From |
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From |
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Six Months |
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From |
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From |
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Ended |
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June 12, 2021 to |
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May 1, 2021 to |
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Ended |
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June 12, 2021 to |
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February 1, 2021 to |
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July 31, 2022 |
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July 31, 2021 |
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June 11, 2021 |
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July 31, 2022 |
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July 31, 2021 |
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June 11, 2021 |
SaaS subscription services |
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$ |
94,247 |
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$ |
44,240 |
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$ |
33,045 |
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$ |
179,316 |
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$ |
44,240 |
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$ |
97,406 |
Professional services |
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4,281 |
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1,985 |
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1,769 |
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8,812 |
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1,985 |
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5,088 |
Software licenses and other |
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225 |
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— |
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— |
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411 |
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— |
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— |
Instructor led training |
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41,821 |
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29,241 |
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— |
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86,874 |
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29,241 |
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— |
Total net revenues |
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$ |
140,574 |
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$ |
75,466 |
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$ |
34,814 |
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$ |
275,413 |
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$ |
75,466 |
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$ |
102,494 |
The following table sets forth our revenues by geographic region for the three and six months ended July 31, 2022 (Successor) and for the periods from June 12, 2021 through July 31, 2021 (Successor), May 1, 2021 through June 11, 2021 (Predecessor (SLH)) and February 1, 2021 (Predecessor (SLH)) through June 11, 2021 (Predecessor (SLH)) (in thousands):
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Quarter to Date Results |
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Year to Date Results |
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Fiscal 2023 |
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Fiscal 2022 |
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Fiscal 2023 |
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Fiscal 2022 |
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Successor |
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Successor |
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Predecessor (SLH) |
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Successor |
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Successor |
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Predecessor (SLH) |
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Three Months |
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From |
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From |
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Six Months |
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From |
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From |
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Ended |
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June 12, 2021 to |
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May 1, 2021 to |
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Ended |
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June 12, 2021 to |
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February 1, 2021 to |
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July 31, 2022 |
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July 31, 2021 |
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June 11, 2021 |
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July 31, 2022 |
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July 31, 2021 |
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June 11, 2021 |
Revenue: |
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United States |
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$ |
92,603 |
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$ |
47,363 |
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$ |
26,345 |
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$ |
176,039 |
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$ |
47,363 |
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$ |
77,489 |
Other Americas |
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7,419 |
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5,522 |
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1,813 |
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15,976 |
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5,522 |
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5,197 |
Europe, Middle East and Africa |
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35,775 |
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20,079 |
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4,755 |
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74,416 |
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20,079 |
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14,283 |
Asia-Pacific |
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4,777 |
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2,502 |
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1,901 |
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8,982 |
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2,502 |
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5,525 |
Total net revenues |
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$ |
140,574 |
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$ |
75,466 |
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$ |
34,814 |
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$ |
275,413 |
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$ |
75,466 |
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$ |
102,494 |
Other than the United States, no single country accounted for more than 10% of revenue for all periods presented.
Deferred Revenue
Deferred revenue activity for the three and six months ended July 31, 2022 was as follows (in thousands):
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Deferred revenue at January 31, 2022 (Successor) |
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$ |
260,949 |
Billings deferred |
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92,106 |
Recognition of prior deferred revenue |
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(134,839) |
Acquisition of Codecademy |
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18,396 |
Deferred revenue at April 30, 2022 (Successor) |
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$ |
236,612 |
Billings deferred |
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119,724 |
Recognition of prior deferred revenue |
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(140,574) |
Deferred revenue at July 31, 2022 (Successor) |
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$ |
215,762 |
Deferred revenue performance obligations relate predominately to time-based SaaS subscription services that are billed in advance of services being rendered.
Deferred Contract Acquisition Costs
Deferred contract acquisition cost activity for the three and six months ended July 31, 2022 was as follows (in thousands):
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Deferred contract acquisition costs at January 31, 2022 (Predecessor (SLH)) |
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$ |
13,248 |
Contract acquisition costs |
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4,265 |
Recognition of contract acquisition costs |
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(3,733) |
Deferred contract acquisition costs at April 30, 2022 (Successor) |
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$ |
13,780 |
Contract acquisition costs |
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3,964 |
Recognition of contract acquisition costs |
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(3,742) |
Deferred contract acquisition costs at July 31, 2022 (Successor) |
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$ |
14,002 |
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