Quarterly report pursuant to Section 13 or 15(d)

Credit Risk and Concentrations

Credit Risk and Concentrations
3 Months Ended
Mar. 31, 2022
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 March 31, 2022 and December 31, 2021 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 three months ended March 31, 2022 and 2021 (in thousands):
For the three months ended March 31, 2022 For the three months ended March 31, 2021
$ % $ %
Customer F 412 11% —%
Customer B —% 313 11%
As of March 31, 2022, two customers represented approximately 22% of total accounts receivable.
As of March 31, 2022, three vendors represented approximately 48% of total gross accounts payable. There were no purchases from these vendors during the three months ended March 31, 2022. 
For the three months ended March 31, 2022, two vendors represented approximately 48%,and 14% of total purchases. For the three months ended March 31, 2021, three vendors represented approximately 33%, 25%, and 18% of total purchases.
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 March 31,
2022 2021
Revenue by Segment
 Indoor Intelligence $ 3,979  $ 1,617 
 Saves 734  832 
 Shoom 518  505 
 Total segment revenue $ 5,231  $ 2,954 
Gross profit by Segment
 Indoor Intelligence $ 2,931  $ 1,015 
 Saves 492  632 
 Shoom 422  423 
 Gross profit by Segment $ 3,845  $ 2,070 
Income (loss) from operations by Segment
Indoor Intelligence $ (10,033) $ (12,584)
Saves (253) (67)
Shoom 222  231 
Income (loss) from operations by Segment $ (10,064) $ (12,420)
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.