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REVENUE
9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
We classify revenue in three categories: service revenue, revenue from reimbursable expenses and non-controlling interests. Service revenue consists of amounts attributable to our fee-based services. Reimbursable expenses and non-controlling interest are pass-through items for which we earn no margin. Reimbursable expenses consist of amounts we incur on behalf of our customers in performing our fee-based services that we pass directly on to our customers without a markup. Non-controlling interests represent the earnings of Lenders One, a consolidated entity that is a mortgage cooperative managed, but not owned, by Altisource. The Lenders One members’ earnings are included in revenue and reduced from net income to arrive at net income attributable to Altisource (see Note 1). Our services are provided to customers located in the United States. The components of revenue were as follows:
Three months ended
September 30,
Nine months ended
September 30,
(in thousands)2021202020212020
Service revenue$41,626 $85,386 $133,672 $289,570 
Reimbursable expenses1,416 2,810 5,365 14,495 
Non-controlling interests201 599 712 1,516 
Total$43,243 $88,795 $139,749 $305,581 
Disaggregation of Revenue
Disaggregation of total revenues by major source is as follows:
(in thousands)Revenue recognized when services are performed or assets are soldRevenue related to technology platforms and professional servicesReimbursable expenses revenueTotal revenue
Three months ended September 30, 2021$38,147 $3,680 $1,416 $43,243 
Three months ended September 30, 202082,067 3,918 2,810 88,795 
Nine months ended September 30, 2021124,111 10,273 5,365 139,749 
Nine months ended September 30, 2020277,522 13,564 14,495 305,581 
Contract Balances
Our contract assets consist of unbilled accounts receivable (see Note 5). Our contract liabilities consist of current deferred revenue and other non-current liabilities as reported on the accompanying condensed consolidated balance sheets. Revenue recognized that was included in the contract liability at the beginning of the period was $4.7 million and $4.5 million for the nine months ended September 30, 2021 and 2020, respectively ($0.9 million and $0.7 million for the third quarter of 2021 and 2020, respectively)