v3.25.2
REVENUES
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
The following tables present a disaggregation of our revenues from contracts with customers by geography for the three and six months ended June 30, 2025 and 2024:
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
(in thousands)
Americas$1,573,282 $1,611,276 $3,056,375 $3,134,007 
Europe316,885 297,944 578,020 548,995 
Asia Pacific66,580 61,805 131,039 122,117 
$1,956,747 $1,971,025 $3,765,434 $3,805,119 

We actively market and provide our payment services, software and other commerce enablement solutions directly to our customers and through a variety of partner distribution channels across three service lines: Point-of-Sale and Software Solutions, Integrated and Embedded Solutions and Core Payments Solutions. Our Point-of-Sale and Software Solutions business provides advanced payments technology that is integrated into point-of-sale systems and business management software solutions that we own. Our Integrated and Embedded Solutions business provides e-commerce solutions, advanced payments technology and commerce enablement solutions that is embedded into business management software solutions owned by our technology partners who operate in numerous vertical markets and countries. Our Core Payments Solutions business provides payments technology services and other commerce enablement solutions directly to customers across numerous verticals in the markets we serve through our direct sales force worldwide, as well as referral partnerships and other wholesale relationships.
The following table presents a disaggregation of our revenues by service line for the three and six months ended June 30, 2025 and 2024:
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
(in thousands)
Point-of-Sale and Software Solutions$348,392 $390,584 $696,532 $769,768 
Integrated and Embedded Solutions854,958 798,602 1,658,501 1,556,225 
Core Payments Solutions753,397 781,839 1,410,401 1,479,126 
$1,956,747 $1,971,025 $3,765,434 $3,805,119 

ASC Topic 606, Revenues from Contracts with Customers ("ASC 606"), requires that we determine for each customer arrangement whether revenue should be recognized at a point in time or over time. For the three and six months ended June 30, 2025 and 2024, substantially all of our revenues were recognized over time.

Supplemental balance sheet information related to contracts from customers as of June 30, 2025 and December 31, 2024 was as follows:
Balance Sheet LocationJune 30, 2025December 31, 2024
(in thousands)
Assets:
Capitalized costs to obtain customer contracts, net
Other noncurrent assets$348,643 $338,015 
Capitalized costs to fulfill customer contracts, net
Other noncurrent assets36,816 34,749 
Liabilities:
Contract liabilities, net (current)Accounts payable and accrued liabilities175,695 197,564 
Contract liabilities, net (noncurrent)Other noncurrent liabilities22,388 20,414 

Net contract assets were not material at June 30, 2025 or December 31, 2024. Revenue recognized for the three months ended June 30, 2025 and 2024 from contract liability balances at the beginning of each period was $73.0 million and $69.6 million, respectively. Revenue recognized for the six months ended June 30, 2025 and 2024 from contract liability balances at the beginning of each period was $142.9 million and $124.7 million, respectively.

ASC 606 requires disclosure of the aggregate amount of the transaction price allocated to unsatisfied performance obligations. The purpose of this disclosure is to provide additional information about the amounts and expected timing of revenue to be recognized from the remaining performance obligations in our existing contracts. The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at June 30, 2025. However, as permitted, we have elected to exclude from this disclosure any contracts with an original duration of one year or less and any variable consideration that meets specified criteria. Accordingly, the total amount of unsatisfied or partially unsatisfied performance obligations related to processing services is significantly higher than the amounts disclosed in the table below (in thousands):
Year Ending December 31,
2025$183,711 
2026244,182 
2027170,583 
202894,810 
202957,642 
203020,721 
2031 and thereafter2,668 
Total$774,317