Revenue Recognition |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue Recognition | 3. Revenue Recognition Deferred Revenue The change in deferred revenue reflects billings during the period for which the performance obligation was not satisfied prior to the end of the period, partially offset by revenues recognized during the period. The following table summarizes the changes in the balance of deferred revenue during the periods presented (in thousands):
For the three months ended March 31, 2025 and March 31, 2024, revenue recognized from amounts included in deferred revenue at the beginning of the period was $56.9 million and $36.7 million, respectively. Remaining Performance Obligations Remaining performance obligations represents the amount of contracted future revenue that has not yet been recognized, including deferred revenue. As of March 31, 2025, the Company’s remaining performance obligations are $173.1 million, of which $163.7 million is expected to be recognized within the next twelve months and $9.4 million is expected to be recognized during a period greater than twelve months. Accounts Receivable Accounts receivable are shown net of an allowance for doubtful accounts of $2.3 million and $1.0 million as of March 31, 2025 and December 31, 2024, respectively.
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