XML 29 R10.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Revenue
6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue
3. Revenue
The following table represents our revenue disaggregated by source:
Three months ended June 30,Six months ended June 30,
2024202320242023
(in thousands)
Advertising revenue $253,125 $179,482 $475,807 $339,562 
Other revenue 28,059 3,549 48,340 7,209 
Total revenue $281,184 $183,031 $524,147 $346,771 
The following table represents our revenue disaggregated by geography based on the billing address of the customer:
Three months ended June 30,Six months ended June 30,
2024202320242023
(in thousands)
United States $228,069 $147,372 $427,872 $278,013 
Rest of world(1)
53,115 35,659 96,275 68,758 
Total revenue $281,184 $183,031 $524,147 $346,771 
______________
(1)Other than the United States, no individual country represented 10% or more of total revenue during the three and six months ended June 30, 2024 and 2023.
Deferred revenue was $9.7 million and $7.4 million as of June 30, 2024 and December 31, 2023, respectively. For the six months ended June 30, 2024 and 2023, revenue recognized from the deferred revenue balance at the beginning of each period was $6.6 million and $6.0 million, respectively.
As of June 30, 2024, the aggregate amount of remaining performance obligations in contracts with an original expected duration exceeding one year is $320.3 million. This amount consists primarily of long-term data licensing contracts and excludes deferred revenue related to short-term advertising contracts and Reddit Premium subscriptions. We expect to recognize $58.3 million in the remainder of 2024, $118.2 million in 2025, and the remaining thereafter.