Contract Assets and Contract Liabilities

6 Months Ended

Jun. 30, 2024

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]

Contract Assets and Contract Liabilities

7. Contract Assets and Contract Liabilities

Contract assets included within prepaid expenses and other current assets in the condensed consolidated balance sheets are as follows (in thousands):

	June 30, 2024		December 31, 2023
Contract assets	$	2,309	$	3,865

The non-current contract liabilities balance is included in other long-term liabilities on the condensed consolidated balance sheets. The Company’s contract liabilities are as follows (in thousands):

	June 30, 2024		December 31, 2023
Contract liabilities	$	14,623	$	16,474
Less: Non-current portion of contract liabilities		2,848		2,564
Current portion of contract liabilities	$	11,775	$	13,910

The Company recognized $3.3 million and $6.4 million of revenue from the opening contract liabilities balance for the three and six months ended June 30, 2024, respectively.