Contract Assets and Contract Liabilities

3 Months Ended

Mar. 31, 2025

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

Contract Assets and Contract Liabilities

6. 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):

	March 31, 2025		December 31, 2024
Contract assets	$	3,326	$	5,678

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):

	March 31, 2025		December 31, 2024
Contract liabilities	$	14,411	$	13,598
Less: Non-current portion of contract liabilities		3,111		3,131
Current portion of contract liabilities	$	11,300	$	10,467

The Company recognized $0.9 million of revenue from the opening contract liabilities balance for the three months ended March 31, 2025.