DEFERRED REVENUE AND REMAINING PERFORMANCE OBLIGATIONS

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

(14)DEFERRED REVENUE AND REMAINING PERFORMANCE OBLIGATIONS

Deferred revenue in the accompanying Consolidated Balance Sheets consist of the following (in thousands):

	December 31,
	2024		2023
Deferred Revenue - Current	$	64,752	$	81,171
Deferred Revenue - Long-term (included in Other long-term liabilities)		4,414		4,814
Total Deferred Revenue	$	69,166	$	85,985

Deferred costs in the accompanying Consolidated Balance Sheets consist of the following (in thousands):

	December 31,
	2024		2023
Deferred Costs - Current (included in Prepaids and other current assets)	$	31,238	$	32,672
Deferred Costs - Long-term (included in Other long-term assets)		18,964		24,245
Total Deferred Costs	$	50,202	$	56,917

Activity in the Company’s Deferred revenue accounts consists of the following (in thousands):

Balance as of December 31, 2023	$	85,985
Additions		263,958
Amortization		(280,777)
Balance as of December 31, 2024	$	69,166

Revenue recognized for the year ended December 31, 2024 from amounts included in deferred revenue as of December 31, 2023 was $81.2 million. Revenue recognized for the year ended December 31, 2023 from amounts included in deferred revenue as of December 31, 2022 was $87.7 million.

Remaining performance obligations (“RPO”) represent the amount of contracted future revenue that has not yet been recognized, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears.

As of December 31, 2024, the Company’s RPO was $410.8 million, which will be delivered and recognized within the next six years. The Company expects to recognize approximately 63% of the RPO over the next 12 months, 22% of the RPO over the subsequent 13 to 24 months, and the remainder thereafter.