Revenue and Contract Balances |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Revenue from Contract with Customer [Abstract] | |
| Revenue and Contract Balances | Revenue and Contract Balances We recognize revenue when or as we satisfy our performance obligations by transferring control of the promised products or services to our customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those products or services. See Note 2 in the Notes to the Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 for additional information on our revenue from contracts with customers and contract balances. Contract Balances Contract assets totaled $201 million and $157 million as of June 30, 2025 and December 31, 2024, respectively. As of June 30, 2025, the average remaining recognition period for our contract asset related to our Premier Agent Flex offering was five months. For the three months ended June 30, 2025, the opening balance of deferred revenue was $70 million, of which $53 million was recognized as revenue during the period. For the three months ended June 30, 2024, the opening balance of deferred revenue was $58 million, of which $49 million was recognized as revenue during the period. For the six months ended June 30, 2025, the opening balance of deferred revenue was $62 million, of which $53 million was recognized as revenue during the period. For the six months ended June 30, 2024, the opening balance of deferred revenue was $52 million, of which $47 million was recognized as revenue during the period.
|