Revenue

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Disaggregated Revenue

The following tables disaggregate our revenue by source and timing of recognition:

	Three Months Ended March 31, 2025
	SendTech Solutions		Presort Services		Other		Revenue from services and products		Revenue from leasing transactions and financing		Total consolidated revenue
Major service/product lines
Services	$	123,067	$	177,814	$	17,551	$	318,432	$	—	$	318,432
Products	53,252		—		—		53,252		39,938		93,190
Financing and other	—		—		—		—		81,798		81,798
Subtotal	176,319		177,814		17,551		371,684		$	121,736	$	493,420
Revenue from leasing transactions and financing	121,736		—		—		121,736
Total revenue	$	298,055	$	177,814	$	17,551	$	493,420
Timing of revenue recognition from services and products
Services/products transferred at a point in time	$	66,403	$	—	$	—	$	66,403
Services/products transferred over time	109,916		177,814		17,551		305,281
Total	$	176,319	$	177,814	$	17,551	$	371,684

	Three Months Ended March 31, 2024
	SendTech Solutions		Presort Services		Other		Revenue from services and products		Revenue from leasing transactions and financing		Total consolidated revenue
Major service/product lines
Services	$	128,858	$	169,807	$	24,025	$	322,690	$	—	$	322,690
Products	61,453		—		—		61,453		52,671		114,124
Financing and other	—		—		—		—		84,455		84,455
Subtotal	190,311		169,807		24,025		384,143		$	137,126	$	521,269
Revenue from leasing transactions and financing	137,126		—		—		137,126
Total revenue	$	327,437	$	169,807	$	24,025	$	521,269
Timing of revenue recognition from services and products
Services/products transferred at a point in time	$	76,465	$	—	$	—	$	76,465
Services/products transferred over time	113,846		169,807		24,025		307,678
Total	$	190,311	$	169,807	$	24,025	$	384,143

Our performance obligations for revenue from services and products are as follows:

Services revenue includes revenues from digital shipping and mailing technology solutions and the maintenance, professional and subscription services related to those solutions, and mail processing services. Revenues for mail processing services and cross-border solutions are recognized over time using an output method based on the number of parcels or mail pieces either processed or delivered, depending on the service type, since that measure best depicts the value of goods and services transferred to the client over the contract period. Contract terms for these services initially range from one to five years and contain annual renewal options. Revenue for shipping subscription solutions is recognized ratably over the contract period as the client obtains equal benefit from these services through the period. Revenue for maintenance and subscription services is recognized ratably over the contract period, which ranges from one to five years, and revenue for professional services is recognized when services are provided.

Products revenue generally includes the sale of mailing and shipping equipment and related supplies. We recognize revenue upon delivery for self-install equipment and supplies and upon acceptance or installation for other equipment.

Financing and other revenue includes revenue from sales-type and operating leases, finance income, late fees and investment income, gains and losses at the Pitney Bowes Bank.

Advance Billings from Contracts with Customers

	Balance sheet location	March 31, 2025		December 31, 2024		Increase/ (decrease)
Advance billings, current	Advance billings	$	66,742	$	63,732	$	3,010
Advance billings, noncurrent	Other noncurrent liabilities	$	336	$	159	$	177

Advance billings are recorded when cash payments are due in advance of our performance. Revenue is recognized ratably over the contract term. Items in advance billings primarily relate to maintenance services on mailing equipment. Revenue recognized during the period includes $32 million of advance billings at the beginning of the period. Current advance billings shown above at March 31, 2025 and December 31, 2024 does not include $8 million and $6 million, respectively, from leasing transactions.

Future Performance Obligations

Future performance obligations primarily include maintenance and subscription services bundled with our leasing contracts. The transaction prices allocated to future performance obligations will be recognized as follows:

	Remainder of 2025		2026		2027-2030		Total
SendTech Solutions	$	191,529	$	211,674	$	285,174	$	688,377

The amounts above do not include revenue for performance obligations under contracts with terms less than 12 months or revenue for performance obligations where revenue is recognized based on the amount billable to the customer.