I think the drop in ARR in the US is related to the conclusion of the N3 sales partnership. LiveTiles chose to cease that out-of-house sales strategy as an immediate cost cutting initiative when covid first hit. It was costing LVT a few million each quarter in salaries/expenses to outsource those operations to N3.
Since N3 also used LiveTiles products, when the partnership ended, they also ceased using LVT's products. I assume there was also some loss of other US-based customers that were brought onboard via N3 sales. There'd be no incentive for N3 to continuing renewing those customers' LVT contracts if they weren't getting a commission. I'm sure they would have tried to shift them all over to another product they could get commission on.
I actually suspect some of the loss in customers over the past 2 quarters may have been as a result of this N3 deal concluding 12-months ago. Many annual subscriptions would have just come to an end by this stage if N3 had been encouraging them to switch software providers.
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