Revenues (Tables)

3 Months Ended

Mar. 31, 2024

Revenue Recognition [Abstract]

Summary of Revenue Recognition for Revenue Categories

The following table summarizes revenue recognition for each revenue category:

Revenue Category	Timing of Revenue Recognition	Income Statement Classification
Connected devices, software licenses, and other	Point in time, as transfer of control occurs, generally upon installation and acceptance by the customer	Product
Consumables	Point in time, as transfer of control occurs, generally upon shipment to or receipt by customer	Product
Technical services	Over time, as services are provided, typically ratably over the service term	Service
Advanced Services	Over time, as services are provided	Service

Disaggregation of Revenues by Revenue Type

The following table summarizes the Company’s revenues disaggregated by revenue type for the three months ended March 31, 2024 and 2023:

	Three Months Ended March 31,
	2024		2023
	(In thousands)
Connected devices, software licenses, and other	$	111,069	$	165,147
Consumables	22,226		20,568
Technical services	58,515		53,357
Advanced Services	54,341		51,557
Total revenues	$	246,151	$	290,629

Disaggregation of Revenues by Geographical Location

The following table summarizes the Company’s revenues disaggregated by geographic region, which is determined based on customer location, for the three months ended March 31, 2024 and 2023:

	Three Months Ended March 31,
	2024		2023
	(In thousands)
United States	$	218,176	$	255,943
Rest of world (1)	27,975		34,686
Total revenues	$	246,151	$	290,629

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(1)    No individual country represented more than 10% of total revenues.

Contract Asset and Liabilities

The following table reflects the Company’s contract assets and contract liabilities:

	March 31, 2024		December 31, 2023
	(In thousands)
Short-term unbilled receivables, net (1)	$	22,661	$	22,524
Long-term unbilled receivables, net (2)	10,360		11,850
Total contract assets	$	33,021	$	34,374
Short-term deferred revenues	$	164,586	$	121,734
Long-term deferred revenues	65,195		58,622
Total contract liabilities	$	229,781	$	180,356

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(1)    Included in accounts receivable and unbilled receivables in the Condensed Consolidated Balance Sheets.

(2)    Included in other long-term assets in the Condensed Consolidated Balance Sheets.