Revenue Recognition

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Deferred Revenue

Deferred revenue is as follows:

(in thousands)	March 31, 2025		December 31, 2024
Current	$	29,621	$	23,166
Non-current	1,454		1,529
Total	$	31,075	$	24,695

Most performance obligations greater than one year relate to service and support contracts that the Company expects to fulfill within 36 months. The Company expects to fulfill 100% of service and support contracts within 60 months.

The changes in deferred revenue, inclusive of both current and long-term, are as follows:

(in thousands)	2025		2024
Beginning balance - January 1	$	24,695	$	11,454
Acquired deferred revenue (refer to "Note 3 - Acquisitions")	809		5,443
Recognition of deferred revenue	(41,091)		(6,398)
Deferral of revenue	45,283		5,195
Impact of foreign currency translation on deferred revenue	1,379		—
Ending balance - March 31	$	31,075	$	15,694

The above tables exclude customer deposits of $1.8 million and $1.8 million as of the three months ended March 31, 2025 and 2024, respectively. During the three months ended March 31, 2025 and 2024, the Company recognized revenue included in deferred revenue at the beginning of each respective period of $11.4 million and $2.7 million.

Disaggregated Revenue

The Company disaggregates revenue from contracts with customers by major product line because the Company believes it best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by contract terms and economic factors.

	Three Months Ended March 31, 2025				Three Months Ended March 31, 2024
(in thousands)	Point in time		Over time		Point in time		Over time
Subscription service	$	—	$	68,410	$	—	$	38,379
Hardware	21,843		—		18,226		—
Professional service	4,163		9,443		5,726		7,742
Total	$	26,006	$	77,853	$	23,952	$	46,121