v3.25.2
DEFERRED CONTRACT COSTS AND DEFERRED REVENUE
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
DEFERRED CONTRACT COSTS AND DEFERRED REVENUE DEFERRED CONTRACT COSTS AND DEFERRED REVENUE
Activity for deferred contract costs consisted of the following (in thousands):
Three Months Ended
June 30,		Six Months Ended June 30,
2025202420252024
Deferred contract costs, current and noncurrent, as of the beginning of period$37,130 $38,984 $39,160 $41,493 
Capitalized commissions during the period4,331 3,235 7,024 5,739 
Amortized deferred contract costs during the period(4,663)(4,912)(9,386)(9,925)
Deferred contract costs, current and noncurrent, as of the end of period$36,798 $37,307 $36,798 $37,307 

Deferred revenue activity consisted of the following (in thousands):
Three Months Ended
June 30,		Six Months Ended June 30,
2025202420252024
Deferred revenue, current and noncurrent, as of the beginning of period$256,423 $254,306 $281,197 $286,974 
Billings, net110,636 111,610 190,066 185,687 
Revenue recognized(104,114)(103,123)(208,318)(209,868)
Deferred revenue, current and noncurrent, as of the end of period$262,945 $262,793 $262,945 $262,793 

The Company typically invoices its customers at the start of the support period, in annual and multi-year installments. When revenue recognized on a contract exceeds billings, the Company records a contract asset. As of June 30, 2025 and December 31, 2024, contract assets amounted to $0.5 million and $1.3 million, respectively, and are included in prepaid expenses and other on the condensed consolidated balance sheets. Deferred revenue is a contract liability that consists of billings issued that are non-cancellable in advance of revenue recognition. Deferred revenue is recognized as the Company satisfies its performance obligations over the term of the contracted service period.

The Company’s remaining performance obligations represent all future non-cancellable revenue under contract that has not yet been recognized as revenue and includes deferred revenue and unbilled amounts. As of June 30, 2025, remaining performance obligations amounted to $589.8 million, of which $262.9 million was billed and recorded as deferred revenue.

The Company expects to recognize revenue on approximately $241.4 million of deferred revenue over the next 12 months, with the remaining deferred revenue balance recognized thereafter.