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Revenue (Tables)
6 Months Ended
Jun. 30, 2022
Contract With Customer Asset And Liability [Line Items]  
Summarizes Revenue By Type of Service

The following table summarizes revenue by type of service for the three and six months ended June 30, 2022 and 2021 (in thousands):

 

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Software subscriptions

 

$

185,499

 

 

$

159,841

 

 

$

365,317

 

 

$

311,865

 

Other

 

 

7,287

 

 

 

6,948

 

 

 

14,292

 

 

 

12,713

 

Total revenues

 

$

192,786

 

 

$

166,789

 

 

$

379,609

 

 

$

324,578

 

Summary of receivables contract assets and contract liabilities from contracts with customers The opening and closing balances of the Company’s receivables, contract assets and contract liabilities from contracts with customers are as follows (in thousands):

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Accounts receivables-net of allowances

 

$

82,816

 

 

$

78,793

 

Deferred contract costs

 

 

16,021

 

 

 

15,069

 

Long-term deferred contract costs

 

 

19,869

 

 

 

22,117

 

Other assets (accounts receivable, non-current)

 

 

14,201

 

 

 

8,622

 

Deferred revenues

 

 

33,298

 

 

 

31,042

 

Other liabilities (deferred revenues, non-current)

 

 

1,444

 

 

 

1,574

 

Summary of deferred revenue

A summary of the activity impacting deferred revenue balances during the three and six months ended June 30, 2022 and 2021, is presented below (in thousands):

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

June 30,

 

 

June 30,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Balance at beginning of period

$

34,900

 

 

$

30,109

 

 

$

32,616

 

 

$

28,515

 

Revenue recognized1

 

(92,823

)

 

 

(82,159

)

 

 

(182,255

)

 

 

(163,121

)

Additional amounts deferred1

 

92,665

 

 

 

82,806

 

 

 

184,381

 

 

 

165,362

 

Balance at end of period

$

34,742

 

 

$

30,756

 

 

$

34,742

 

 

$

30,756

 

 

 

 

 

 

 

 

 

 

 

 

 

Classified as:

 

 

 

 

 

 

 

 

 

 

 

Current

$

33,298

 

 

$

28,824

 

 

$

33,298

 

 

$

28,824

 

Non-current

 

1,444

 

 

 

1,932

 

 

 

1,444

 

 

 

1,932

 

Total deferred revenue

$

34,742

 

 

$

30,756

 

 

$

34,742

 

 

$

30,756

 

 

 

 

 

 

 

 

 

 

 

 

 

1 Amounts include total revenue deferred and recognized during each respective period.

Summary of deferred contract costs

A summary of the activity impacting the deferred contract costs during the three and six months ended June 30, 2022 and 2021 is presented below (in thousands):

 

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Balance at beginning of period

 

$

36,948

 

 

$

26,554

 

 

$

37,186

 

 

$

26,361

 

Costs amortized

 

 

(4,407

)

 

 

(3,612

)

 

 

(8,628

)

 

 

(7,317

)

Additional amounts deferred

 

 

3,349

 

 

 

5,725

 

 

 

7,332

 

 

 

9,623

 

Balance at end of period

 

$

35,890

 

 

$

28,667

 

 

$

35,890

 

 

$

28,667

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Classified as:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

16,021

 

 

$

12,681

 

 

$

16,021

 

 

$

12,681

 

Non-current

 

 

19,869

 

 

 

15,986

 

 

 

19,869

 

 

 

15,986

 

Total deferred contract costs

 

$

35,890

 

 

$

28,667

 

 

$

35,890

 

 

$

28,667