v3.25.2
REVENUE RECOGNITION
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregation of Revenue
The following table disaggregates Revenue by service type and the timing of when these services are provided to the member or customer (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
  2025202420252024
Services transferred at a point in time:
Flights, net of discounts and incentives$158,330 $163,684 $305,898 $314,613 
Other22,827 16,162 42,611 44,946 
Services transferred over time:
Memberships7,474 16,046 16,663 32,900 
Other1,006 393 1,995 927 
Total Revenue$189,637 $196,285 $367,167 $393,386 
Contract Balances
Accounts receivable, net consisted of the following (in thousands):
June 30, 2025December 31, 2024
Gross receivables from members and customers$43,757 $39,187 
Undeposited funds3,345 790 
Less: Allowance for credit losses(8,397)(7,661)
Accounts receivable, net$38,705 $32,316 
Deferred revenue consisted of the following (in thousands):
June 30, 2025December 31, 2024
Flights - prepaid$711,466 $729,581 
Memberships - annual dues12,745 17,638 
Other2,888 2,393 
Deferred revenue - total$727,099 $749,612 
The non-current portion of Deferred revenue - total, which is presented within Other non-current liabilities on the condensed consolidated balance sheets, was nil and $0.2 million as of June 30, 2025 and December 31, 2024, respectively..
Changes in Deferred revenue for the six months ended June 30, 2025 were as follows (in thousands):
Deferred revenue as of December 31, 2024$749,612 
   Amounts deferred during the period344,654 
   Revenue recognized from amounts included in the deferred revenue beginning balance(277,642)
   Revenue from current period sales(89,525)
Deferred revenue as of June 30, 2025$727,099 
Revenue expected to be recognized in future periods for performance obligations that are unsatisfied, or partially unsatisfied, as of June 30, 2025 were as follows (in thousands):
Remainder of 2025$358,594 
2026237,632 
202765,436 
202865,437 
Total Deferred revenue$727,099 
Costs to Obtain a Contract
Capitalized costs related to sales commissions and referral fees were $1.8 million and $3.8 million for the three and six months ended June 30, 2025, respectively, and $1.9 million and $3.9 million for the three and six months ended June 30, 2024, respectively.
As of June 30, 2025 and December 31, 2024, capitalized sales commissions and referral fees of $3.9 million and $4.6 million, respectively, were included in Other current assets, and $0.2 million and $0.3 million, respectively, were included in Other non-current assets on the condensed consolidated balance sheets. Amortization expense related to capitalized sales commissions and referral fees included in sales and marketing expense in the condensed consolidated statements of operations was $2.4 million and $4.7 million for the three and six months ended June 30, 2025, respectively, and $2.1 million and $4.2 million for the three and six months ended June 30, 2024, respectively.