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Revenue (Tables)
9 Months Ended
Sep. 30, 2025
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]  
Summarizes Revenue By Type of Service

The following table summarizes revenue by type of service for the three and nine months ended September 30, 2025 and 2024 (in thousands):

 

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Software subscriptions

 

$

256,656

 

 

$

229,425

 

 

$

749,771

 

 

$

670,335

 

Other

 

 

10,464

 

 

 

9,056

 

 

 

29,365

 

 

 

28,001

 

Total revenues

 

$

267,120

 

 

$

238,481

 

 

$

779,136

 

 

$

698,336

 

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):

 

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Accounts receivables—Net of allowances

 

$

140,702

 

 

$

106,578

 

Deferred contract costs

 

 

22,939

 

 

 

22,373

 

Long-term deferred contract costs

 

 

20,594

 

 

 

18,692

 

Other assets (accounts receivable, non-current)

 

 

23,619

 

 

 

16,946

 

Deferred revenues

 

 

76,450

 

 

 

44,915

 

Other liabilities (deferred revenues, non-current)

 

 

1,679

 

 

 

1,415

 

Summary of Deferred Revenue

A summary of the activity impacting deferred revenue balances during the three and nine months ended September 30, 2025 and 2024 is presented below (in thousands):

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

September 30,

 

 

September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Balance at beginning of period

$

72,292

 

 

$

48,101

 

 

$

46,330

 

 

$

44,940

 

Revenue recognized1

 

(135,931

)

 

 

(120,315

)

 

 

(468,517

)

 

 

(353,523

)

Additional amounts deferred1

 

141,768

 

 

 

120,561

 

 

 

500,316

 

 

 

356,930

 

Balance at end of period

$

78,129

 

 

$

48,347

 

 

$

78,129

 

 

$

48,347

 

 

 

 

 

 

 

 

 

 

 

 

 

Classified as:

 

 

 

 

 

 

 

 

 

 

 

Current

$

76,450

 

 

$

46,577

 

 

$

76,450

 

 

$

46,577

 

Non-current

 

1,679

 

 

 

1,770

 

 

 

1,679

 

 

 

1,770

 

Total deferred revenue

$

78,129

 

 

$

48,347

 

 

$

78,129

 

 

$

48,347

 

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 nine months ended September 30, 2025 and 2024 is presented below (in thousands):

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Balance at beginning of period

 

$

43,439

 

 

$

41,093

 

 

$

41,065

 

 

$

40,202

 

Costs amortized

 

 

(6,060

)

 

 

(5,651

)

 

 

(17,743

)

 

 

(16,222

)

Additional amounts deferred

 

 

6,154

 

 

 

5,661

 

 

 

20,211

 

 

 

17,123

 

Balance at end of period

 

$

43,533

 

 

$

41,103

 

 

$

43,533

 

 

$

41,103

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Classified as:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

22,939

 

 

$

19,707

 

 

$

22,939

 

 

$

19,707

 

Non-current

 

 

20,594

 

 

 

21,396

 

 

 

20,594

 

 

 

21,396

 

Total deferred contract costs

 

$

43,533

 

 

$

41,103

 

 

$

43,533

 

 

$

41,103