Quarterly report pursuant to Section 13 or 15(d)

Credit Risk and Concentrations

Credit Risk and Concentrations
6 Months Ended
Jun. 30, 2021
Risks and Uncertainties [Abstract]  
Credit Risk and Concentrations Credit Risk and Concentrations
Financial instruments that subject the Company to credit risk consist principally of trade accounts receivable and cash and cash equivalents. The Company performs certain credit evaluation procedures and does not require collateral for financial instruments subject to credit risk. The Company believes that credit risk is limited because the Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk of its customers, establishes an allowance for uncollectible accounts and, consequently, believes that its accounts receivable credit risk exposure beyond such allowances is limited.
The Company maintains cash deposits with financial institutions, which, from time to time, may exceed federally insured limits. Cash is also maintained at foreign financial institutions for its Canadian subsidiary, UK subsidiary, German subsidiaries and its majority-owned India subsidiary. Cash in foreign financial institutions as of June 30, 2021 and December 31, 2020 was immaterial. The Company has not experienced any losses and believes it is not exposed to any significant credit risk from cash.
The following table sets forth the percentages of revenue derived by the Company from those customers, which accounted for at least 10% of revenues during the six months ended June 30, 2021 and 2020 (in thousands):
For the Three Months Ended June 30, 2021 For the Three Months Ended June 30, 2020
$ % $ %
Customer A —%
Customer B 316 9% 305 28%
For the Six Months Ended June 30, 2021 For the Six Months Ended June 30, 2020
$ % $ %
Customer A —% 500 17%
Customer B 630 10% 611 21%
As of June 30, 2021, there were no customers that exceeded 10% of total accounts receivable.
As of June 30, 2021, two vendors represented approximately 23% of total gross accounts payable. Purchases from these vendors during the six months ended June 30, 2021 was $408,470. 
For the six months ended June 30, 2021 three vendors represented approximately 23%, 16%, and 12% of total purchases. For the six months ended June 30, 2020, five vendors represented approximately 30%, 18%, 15%, 14%, and 13% of total purchases.
Revenue Segments
The Company’s operations consist of three reportable segments based on similar economic characteristics, the nature of products and production processes, end-use markets, channels of distribution, and regulatory environments: Indoor Intelligence, Saves, and Shoom.
During the second quarter of 2021, the Company changed the level of detail at which its Chief Executive Officer (“CEO”) acting as the Chief Operating Decision Maker, or “CODM”) regularly reviews and manages certain of its businesses, resulting in the bifurcation of its former one segment into three standalone reportable segments: Indoor Intelligence, Saves, and Shoom. The Company now manages and reports its operating results through these three reportable segments. This change allows the Company to enhance its customer focus and better align its business models, resources, and cost structure to the specific current and future growth drivers of each business, while providing increased transparency to the Company’s shareholders. The historical segment information has been recast to conform to the current segment structure.
Gross profit is the primary measure of segment profitability used by the Company’s CODM.
Revenues and gross profit segments consisted of the following (in thousands):
For the Three Months Ended June 30 For the Six Months Ended June 30
2021 2020 2021 2020
Revenue by Segment
 Indoor Intelligence $ 2,269  $ 574  $ 3,886  $ 1,863 
 Saves 683  —  1,515  — 
 Shoom 501  502  1,006  1,017 
 Total segment revenue 3,453  1,076  6,407  2,880 
Gross profit by Segment
 Indoor Intelligence 1,662  346  2,676  1,221 
 Saves 466  —  1,099  — 
 Shoom 429  425  852  845 
 Gross profit by Segment 2,557  771  4,627  2,066 
The reporting package provided to the Company's CODM does not include the measure of assets by segment as that information isn't reviewed by the CODM when assessing segment performance or allocating resources.