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Revenue
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following table presents a summary of revenue:
Three Months Ended March 31,
(in thousands)20252024
Subscription revenue$220,443 $197,635 
Perpetual license and maintenance revenue11,552 12,156 
Professional services and other revenue7,142 6,170 
Revenue$239,137 $215,961 
Concentrations
We sell and market our products and services through our field sales force that works closely with our channel partners, which includes a network of distributors and resellers, in developing sales opportunities. We use a two-tiered channel model whereby we sell our products and services to our distributors, which in turn sell to resellers, which then sell to end users. Revenue derived through our channel network comprised 94% and 93% of revenue in the three months ended March 31, 2025 and 2024, respectively. One of our distributors accounted for 32% and 34% of revenue in the three months ended March 31, 2025 and 2024, respectively. That same distributor accounted for 30% and 29% of accounts receivable at March 31, 2025 and December 31, 2024, respectively.
Contract Balances
We generally bill our customers in advance and accounts receivable are recorded when we have the right to invoice the customer. Contract liabilities consist of deferred revenue and include customer billings and payments received in advance of performance under the contract. In the three months ended March 31, 2025 and 2024, we recognized revenue of $224.1 million and $201.0 million, respectively, that was included in the deferred revenue balance at the beginning of the respective periods.
Remaining Performance Obligations
The following summarizes the future estimated revenue related to unsatisfied performance obligations:
March 31,
(in thousands)20252024
Remaining performance obligations, short-term$647,647 $572,851 
Remaining performance obligations, long-term234,598 169,560 
Remaining performance obligations$882,245 $742,411 
Deferred Commissions
The following summarizes the activity of deferred incremental costs of obtaining a contract:
Three Months Ended March 31,
(in thousands)20252024
Beginning balance$119,705 $121,953 
Capitalization of contract acquisition costs11,194 9,035 
Amortization of deferred contract acquisition costs(14,070)(13,373)
Ending balance$116,829 $117,615