REVENUE (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue by Type

Revenue by Geographic Region

The following table sets forth our revenues by geographic region for the three and six months ended June 30, 2023 and 2022 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenues:
United States	$	46,601	$	40,160	$	87,029	$	84,549
Other Americas	5,097		8,406		15,298		13,300
Europe, Middle East and Africa	41,006		36,316		73,927		75,161
Asia-Pacific	15,838		12,798		30,099		25,319
Total net revenues	$	108,542	$	97,680	$	206,353	$	198,329

Contract Asset

Contract Asset

Contract asset activity for the six months ended June 30, 2023 and 2022 was as follows (in thousands):

	June 30, 2023		June 30, 2022
Contract asset at beginning of period	$	37,765	$	25,397
Revenue in excess of billings	47,651		19,735
Customer billings	(39,092)		(14,858)
Contract asset at end of period	$	46,324	$	30,274
Less: long-term portion (recorded in other long-term assets)	7,837		9,324
Contract asset, current portion	$	38,487	$	20,950

Deferred Revenue

Deferred revenue activity for the six months ended June 30, 2023 and 2022 was as follows (in thousands):

	June 30, 2023		June 30, 2022
Deferred revenue at beginning of period	$	94,150	$	98,082
Billings deferred	40,831		45,192
Recognition of prior deferred revenue	(70,500)		(62,341)
Deferred revenue at end of period	$	64,481	$	80,933

A summary of the significant performance obligations included in deferred revenue is as follows (in thousands):

	June 30, 2023
Product	$	1,672
Subscription	14,926
Maintenance contracts	42,885
Implied PCS	3,233
Professional services, training and other	1,765
Deferred revenue at June 30, 2023	$	64,481