Revenue

3 Months Ended

Mar. 31, 2020

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):

	March 31, 2020		December 31, 2019
Accounts receivable, net	$	39,972	$	37,655
Deferred contract acquisition costs:
Current	$	14,317	$	13,014
Non-current	34,047		30,655
Total deferred contract acquisition costs	$	48,364	$	43,669
Contract assets and contract liabilities:
Contract assets (included in prepaid expenses and other current assets)	$	623	$	825
Contract liabilities (deferred revenue)	25,632		24,681
Contract liabilities (deferred revenue) (included in other long-term liabilities)	3,978		1,550
Net contract assets (liabilities)	$	(28,987)	$	(25,406)

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 three months ended March 31, 2020, the Company recognized revenue of $16.0 million related to its contract liabilities at December 31, 2019.

Remaining Performance Obligations

As of March 31, 2020, 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 $154.1 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.