Contract Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Components of contract assets and contract liabilities

The components of contract assets and contract liabilities consisted of the following:

	June 30,		December 31,
	2024		2023
	(in thousands)
Contract assets - current:
Unbilled revenue	$	28,166	$	15,213
Total contract assets - current	$	28,166	$	15,213
Contract assets - long-term:
Unbilled revenue - long-term	$	1,332	$	8,150
Other contract assets - long-term	1,168		610
Total contract assets - long-term(1)	$	2,500	$	8,760
Contract liabilities - current:
Deferred revenue - current	$	4,580	$	3,670
Total contract liabilities - current	$	4,580	$	3,670
Contract liabilities - long-term:
Other contract liabilities - long-term	$	1,217	$	169
Total contract liabilities - long-term	$	1,217	$	169

Changes in short-term and long-term contract assets and contract liabilities for the six months ended June 30, 2024 were as follows:

	Contract Assets		Contract Liabilities
	(in thousands)
Balance as of January 1, 2024	$	23,973	$	3,839
Billings or revenue recognized that was included in the beginning balance	(6,162)		(3,219)
Changes in contract assets or contract liabilities, net of reclassification to receivables	11,229		4,065
Cumulative catch-up adjustment arising from changes in estimates to complete	1,068		(11)
Cumulative catch-up adjustment arising from contract modifications	—		76
Changes in costs to fulfill and amortization of commission costs	558		—
Changes in contract commission costs	—		1,047
Balance as of June 30, 2024	$	30,666	$	5,797