Revenue

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Contract Balances

The following table provides information about accounts receivable, net, deferred contract acquisition costs, contract assets and contract liabilities from contracts with customers (in thousands):

	December 31, 2019		December 31, 2018
Accounts receivable, net	$	37,655	$	24,797
Deferred contract acquisition costs:
Current	$	13,014	$	9,372
Non-current	30,655		21,514
Total deferred contract acquisition costs	$	43,669	$	30,886
Contract assets and contract liabilities:
Contract assets (included in prepaid expenses and other current assets)	$	825	$	330
Contract liabilities (deferred revenue)	24,681		17,391
Net contract assets (liabilities)	$	(23,856)	$	(17,061)

The Company receives payments from customers based upon billing cycles. Invoice payment terms are usually 30 days or less. Accounts receivable are recorded when the right to consideration becomes unconditional.

Deferred contract acquisition costs are recorded when incurred and are amortized over a customer benefit period of five years.

The Company’s contract assets consist of unbilled amounts typically resulting from professional services revenue recognition when it exceeds the total amounts billed to the customer. The Company’s contract liabilities consist of advance payments and billings in excess of revenue recognized.

In the year ended December 31, 2019, the Company recognized revenue of $15.9 million related to its contract liabilities at December 31, 2018.

Remaining Performance Obligations

As of December 31, 2019, the aggregate amount of the total transaction price allocated in contracts with original duration of greater than one year to the remaining performance obligations was $159.9 million. The Company expects to recognize revenue on approximately four-fifths of the remaining performance obligation over the next 24 months, with the balance recognized thereafter. The Company has elected the optional exemption, which allows for the exclusion of the amounts for remaining performance obligations that are part of contracts with an original expected duration of one year or less. Such remaining performance obligations represent unsatisfied or partially unsatisfied performance obligations pursuant to ASC 606.