The following table presents the Company’s contract assets and contract liabilities as of March 31, 2025 and as of December 31, 2024: | | | | | | | | | | | | | | | | | As of March 31, 2025 | | As of December 31, 2024 | | | (in thousands) | Contract assets | | $ | 452 | | | $ | 1,072 | | Contract liabilities | | $ | 34,381 | | | $ | 29,585 | |
The following table presents revenue recognized during the three months ended March 31, 2025 and 2024 from amounts included in the contract liability at the beginning of the period: | | | | | | | | | | | | | | | | | | | | | Three months ended March 31, | | | | | 2025 | | 2024 | | | | | | | (in thousands) | Revenue recognized in the period from amounts included in contract liability at the beginning of the period | | $ | 11,594 | | | $ | 12,760 | | | | | |
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