Comparison of the Three Months Ended September 30, 2021 and 2020 Revenue Three Months Ended September 30, Change 2021 2020 $ % (in thousands, except percentages) Revenue: Platform $ 36,084 $ 26,197 $ 9,887 37.7 % Professional services and other 1,306 1,307 (1) (0.1) Total Revenue $ 37,390 $ 27,504 $ 9,886 35.9 % Platform Total platform revenue increased $9.9 million, or 37.7%, to $36.1 million for the three months ended September 30, 2021 from $26.2 million for the three months ended September 30, 2020. This increase was primarily the result of continued increases in active locations coming onto the platform, as well as increases in ARPU due to increased multi-product adoption and increased transaction volumes. Active customer locations increased to approximately 76,000 as of September 30, 2021 from approximately 60,000 as of September 30, 2020, and ARPU increased to approximately $484 for the three months ended September 30, 2021 from approximately $450 for the three months ended September 30, 2020. For the three months ended September 30, 2021 and 2020, 47.2% and 44.9% of our platform revenue was subscription revenue, respectively, and 52.8% and 55.1% was transaction revenue, respectively. Professional Services and Other Total professional services and other revenue were flat at $1.3 million for the three months ended September 30, 2021 and 2020. While we expect professional services and other to increase primarily as a result of continued deployment of additional active locations, this increase will be offset as our deployment teams become more efficient and more familiar with customer systems and shorten deployment periods. Cost of Revenue, Gross Profit, and Gross Margin Three Months Ended September 30, Change 2021 2020 $ % (in thousands, except percentages) Cost of revenue: Platform $ 6,632 $ 3,583 $ 3,049 85.1 % Professional services and other 1,532 1,196 336 28.1 Total cost of revenue $ 8,164 $ 4,779 $ 3,385 70.8 % Percentage of revenue: Platform 17.7 % 13.0 % Professional services and other 4.1 4.3 Total cost of revenue 21.8 % 17.4 % Gross Profit $ 29,226 $ 22,725 $ 6,501 28.6 % Gross Margin 78.2 % 82.6 % Platform Total platform cost of revenue increased $3.0 million, or 85.1%, to $6.6 million for the three months ended September 30, 2021 from $3.6 million for the three months ended September 30, 2020. This increase was primarily the result of 33
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