Deferred Revenue and Performance Obligation (Notes)

9 Months Ended

Sep. 30, 2024

Deferred Revenue and Performance Obligation [Abstract]

Deferred revenue and performance obligation [Text Block]

Deferred Revenue and Performance Obligations

    Deferred revenue

For the three months ended September 30, 2024 and 2023, the Company recognized approximately $54.9 million and $52.5 million, respectively, and for the nine months ended September 30, 2024 and 2023, the Company recognized approximately $110.0 million and $100.7 million, respectively, of revenue that was included in the deferred revenue balances at the beginning of the respective periods and related to subscription, maintenance and support, and services.

    Performance obligations

As of September 30, 2024, the Company expects to recognize approximately $429.3 million of revenue from remaining performance obligations. The Company expects, based on the terms of the related underlying contractual arrangements, to recognize revenue on approximately $231.0 million of these performance obligations over the next 12 months, with the balance recognized thereafter. Remaining performance obligations represent contractually committed revenue yet to be recognized, which includes deferred revenue and unbilled amounts that will be recognized as revenue in future periods.