Revenue

9 Months Ended

Sep. 30, 2025

Revenue

Revenue

2. Revenue

Contract Assets

As of September 30, 2025, December 31, 2024, and September 30, 2024 contract assets of $11.1 million, $10.0 million and $13.4 million, respectively, relating to RV service revenues, were included in accounts receivable in the accompanying condensed consolidated balance sheets.

Deferred Revenues

The Company records deferred revenues when cash payments are received or due in advance of the Company’s performance, net of estimated refunds that are presented separately as a component of accrued liabilities. For the nine months ended September 30, 2025, the Company estimates approximately $75.4 million of revenues recognized were included in the deferred revenue balance at the beginning of the period. These estimates consider factors including, but not limited to, average service term, cash received for the period, cancellations, contract extensions, and upgrades.

As of September 30, 2025, the Company had unsatisfied performance obligations primarily relating to plans for its roadside assistance, Good Sam Club memberships, Good Sam Club loyalty program, Coast to Coast memberships, the annual campground guide, and magazine publication revenue streams. The total unsatisfied performance obligations for these revenue streams as of September 30, 2025 and the periods during which the Company expects to recognize the amounts as revenue are presented as follows (in thousands):

	As of
	September 30, 2025
2025	$	35,021
2026		73,093
2027		26,657
2028		13,129
2029		7,235
Thereafter		5,002
Total	$	160,137