REVENUE (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2023 and 2022 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenues:
United States	$	38,038	$	46,206	$	125,067	$	130,755
Other Americas	5,436		6,167		20,734		19,467
Europe, Middle East and Africa	34,647		36,865		108,574		112,026
Asia-Pacific	12,888		13,747		42,987		39,066
Total net revenues	$	91,009	$	102,985	$	297,362	$	301,314

Contract Asset

Contract Asset

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

	September 30, 2023		September 30, 2022
Contract asset at beginning of period	$	37,765	$	25,397
Revenue in excess of billings	63,251		51,400
Customer billings	(59,944)		(47,427)
Contract asset at end of period	$	41,072	$	29,370
Less: long-term portion (recorded in other long-term assets)	4,354		11,642
Contract asset, current portion	$	36,718	$	17,728

Deferred Revenue

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

	September 30, 2023		September 30, 2022
Deferred revenue at beginning of period	$	94,150	$	98,082
Billings deferred	55,109		57,094
Recognition of prior deferred revenue	(88,537)		(78,501)
Deferred revenue at end of period	$	60,722	$	76,675

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

	September 30, 2023
Product	$	2,802
Subscription	15,497
Maintenance contracts	39,553
Implied PCS	2,870
Deferred revenue at September 30, 2023	$	60,722