Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 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:

	December 31,		December 31,
	2024		2023
	(in thousands)
Contract assets - current:
Unbilled revenue	$	27,852	$	15,213
Total contract assets - current	$	27,852	$	15,213
Contract assets - long-term:
Unbilled revenue - long-term	$	173	$	8,150
Other contract assets - long-term	937		610
Total contract assets - long-term(1)	$	1,110	$	8,760
Contract liabilities - current:
Deferred revenue - current	$	2,160	$	3,670
Other contract liabilities - current	23		—
Total contract liabilities - current	$	2,183	$	3,670
Contract liabilities - long-term:
Other contract liabilities - long-term	$	678	$	169
Total contract liabilities - long-term(2)	$	678	$	169

(1) Total contract assets - long term is included in other assets in the consolidated balance sheets.

(2) Total contract liabilities - long term is included in other liabilities in the consolidated balance sheets.

Changes in short-term and long-term contract assets and contract liabilities for the year ended December 31, 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	(12,992)		(3,258)
Changes in contract assets or contract liabilities, net of reclassification to receivables	17,599		1,694
Cumulative catch-up adjustment arising from changes in estimates to complete during the year	55		65
Cumulative catch-up adjustment arising from contract modifications	—		(11)
Changes in costs to fulfill and amortization of commission costs	327		—
Changes in contract commission costs	—		532
Balance as of December 31, 2024	$	28,962	$	2,861