Contract Assets and Liabilities (Tables)

9 Months Ended

Sep. 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:

	September 30,		December 31,
	2024		2023
	(in thousands)
Contract assets - current:
Unbilled revenue	$	26,736	$	15,213
Total contract assets - current	$	26,736	$	15,213
Contract assets - long-term:
Unbilled revenue - long-term	$	1,321	$	8,150
Other contract assets - long-term	1,049		610
Total contract assets - long-term(1)	$	2,370	$	8,760
Contract liabilities - current:
Deferred revenue - current	$	4,224	$	3,670
Total contract liabilities - current	$	4,224	$	3,670
Contract liabilities - long-term:
Other contract liabilities - long-term	$	620	$	169
Total contract liabilities - long-term(2)	$	620	$	169

Changes in short-term and long-term contract assets and contract liabilities for the nine months ended September 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	(9,938)		(3,252)
Changes in contract assets or contract liabilities, net of reclassification to receivables	14,359		3,751
Cumulative catch-up adjustment arising from changes in estimates to complete	273		66
Cumulative catch-up adjustment arising from contract modifications	—		(11)
Changes in costs to fulfill and amortization of commission costs	439		—
Changes in contract commission costs	—		451
Balance as of September 30, 2024	$	29,106	$	4,844