Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.22.2.2
Revenue
9 Months Ended
Oct. 31, 2022
Revenue  
Revenue

(12) Revenue

Disaggregated Revenue and Geography Information

The following is a summary of revenues by type for the three and nine months ended October 31, 2022 (Successor) and for the three months ended October 31, 2021 (Successor), the period from June 12, 2021 through October 31, 2021 (Successor) and the period from February 1, 2021 through June 11, 2021 (Predecessor (SLH)) (in thousands):

Quarter to Date Results

Year to Date Results

Fiscal 2023

Fiscal 2022

Fiscal 2023

Fiscal 2022

Successor

Successor

Successor

Successor

  

Predecessor (SLH)

Three Months

Three Months

Nine Months

From

From

Ended

Ended

Ended

June 12, 2021 to

February 1, 2021 to

    

October 31, 2022

October 31, 2021

October 31, 2022

October 31, 2021

June 11, 2021

SaaS subscription services

$

93,127

$

82,593

$

272,443

$

126,833

$

97,406

Professional services

 

4,617

4,354

13,429

6,339

5,088

Software licenses and other

 

224

635

Instructor led training

 

41,422

53,206

128,296

82,448

Total net revenues

$

139,390

$

140,153

$

414,803

$

215,620

$

102,494

The following table sets forth our revenues by geographic region for the three and nine months ended October 31, 2022 (Successor) and for the three months ended October 31, 2021 (Successor), the period from June 12, 2021 through October 31, 2021 (Successor) and the period from February 1, 2021 through June 11, 2021 (Predecessor (SLH)) (in thousands):

   

Quarter to Date Results

Year to Date Results

Fiscal 2023

Fiscal 2022

Fiscal 2023

Fiscal 2022

Successor

Successor

Successor

Successor

  

Predecessor (SLH)

Three Months

Three Months

Nine Months

From

From

Ended

Ended

Ended

June 12, 2021 to

February 1, 2021 to

    

October 31, 2022

October 31, 2021

October 31, 2022

October 31, 2021

June 11, 2021

Revenue:

  

  

  

  

United States

$

92,177

$

85,421

$

268,096

$

132,785

$

77,489

Other Americas

 

7,099

9,554

23,075

15,076

5,197

Europe, Middle East and Africa

 

35,230

40,485

109,031

60,563

14,283

Asia-Pacific

 

4,884

4,693

14,601

7,196

5,525

Total net revenues

$

139,390

$

140,153

$

414,803

$

215,620

$

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 nine months ended October 31, 2022 was as follows (in thousands):

Deferred revenue at January 31, 2022 (Successor)

    

$

260,949

Billings deferred

 

92,106

Recognition of prior deferred revenue

 

(134,839)

Acquisition of Codecademy

18,396

Deferred revenue at April 30, 2022 (Successor)

$

236,612

Billings deferred

119,724

Recognition of prior deferred revenue

(140,574)

Deferred revenue at July 31, 2022 (Successor)

215,762

Billings deferred

 

122,202

Recognition of prior deferred revenue

 

(139,390)

Deferred revenue at October 31, 2022 (Successor)

$

198,574

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 nine months ended October 31, 2022 was as follows (in thousands):

Deferred contract acquisition costs at January 31, 2022 (Successor)

    

$

13,248

Contract acquisition costs

 

4,265

Recognition of contract acquisition costs

 

(3,733)

Deferred contract acquisition costs at April 30, 2022 (Successor)

$

13,780

Contract acquisition costs

3,964

Recognition of contract acquisition costs

(3,742)

Deferred contract acquisition costs at July 31, 2022 (Successor)

14,002

Contract acquisition costs

 

5,213

Recognition of contract acquisition costs

 

(6,317)

Deferred contract acquisition costs at October 31, 2022 (Successor)

$

12,898