Revenue and Deferred Revenue

12 Months Ended

Jan. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue and Deferred Revenue

Note 3: Revenue and Deferred Revenue

Disaggregated revenue

Revenue disaggregated by revenue source consisted of the following (in thousands):

	Fiscal Year Ended January 31,
	2024		2023		2022
Subscription and services revenue	$	221,624	$	199,105	$	175,942
Product and other revenue		15,113		17,060		16,348
Total revenue	$	236,737	$	216,165	$	192,290

The Company derived approximately 58%, 53% and 49% of its total revenue from Ooma Business and approximately 40%, 45% and 49% of its total revenue from Ooma Residential in fiscal 2024, 2023, and 2022, respectively.

No individual country outside of the United States represented 10% or more of total revenue for the periods presented. No single customer accounted for 10% or more of total revenue for the periods presented.

Deferred revenue primarily consists of billings or payments received in advance of meeting revenue recognition criteria. Deferred services revenue is recognized on a ratable basis over the term of the contract as the services are provided.

	As of
	January 31, 2024		January 31, 2023
Subscription and services	$	17,034	$	17,239
Product and other		22		8
Total deferred revenue	$	17,056		17,247
Less: current deferred revenue		17,041		17,216
Non-current deferred revenue included in other long-term liabilities	$	15	$	31

During fiscal 2024, the Company recognized revenue of approximately $17.2 million pertaining to amounts deferred as of January 31, 2023. As of January 31, 2024, the majority of the Company’s deferred revenue balance was composed of subscription contracts that were invoiced during the fourth quarter of fiscal 2024.

Remaining performance obligations. As of January 31, 2024, contract revenue that had not yet been recognized for open contracts with an original expected length of greater than one year was approximately $26.5 million. The Company expects to recognize revenue on approximately 41% of this amount over the next 12 months, with the balance to be recognized thereafter.