v3.25.4
Revenue
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table presents our revenue disaggregated by source, which also have similar economic characteristics (in thousands):
Year Ended December 31,
202520242023
Create Solutions$621,409 $613,966 $859,174 
Grow Solutions1,228,239 1,199,289 1,328,143 
Total revenue$1,849,648 $1,813,255 $2,187,317 
The following table presents our revenue disaggregated by geography, based on the invoice address of our customers (in thousands):
Year Ended December 31,
202520242023
United States$518,319 $530,387 $564,358 
Greater China (1)
333,571 258,872 254,551 
EMEA (2)
601,430 643,872 756,214 
APAC (3)
349,018 329,907 558,810 
Other Americas (4)
47,310 50,217 53,384 
Total revenue$1,849,648 $1,813,255 $2,187,317 
(1)    Greater China includes China, Hong Kong, and Taiwan.
(2)    Europe, the Middle East, and Africa ("EMEA").
(3)    Asia-Pacific, excluding Greater China ("APAC").
(4)    Canada and Latin America ("Other Americas").
Sales Commissions
Sales commissions that have a benefit beyond one year are capitalized and amortized on a straight-line method over the expected period of benefit, which is generally three years. As of December 31, 2025, capitalized commissions, net of amortization, included in prepaid expenses and other and other assets were $5.4 million and $2.8 million, respectively. As of December 31, 2024, capitalized commissions, net of amortization, included in prepaid expenses and other and other assets were $6.5 million and $5.4 million, respectively.
During the years ended December 31, 2025 and 2024, we recorded amortization costs of $7.2 million and $8.9 million, respectively, in sales and marketing expenses. We did not incur any impairment losses for the years ended December 31, 2025 and 2024.
Contract Balances and Remaining Performance Obligations
Contract assets (unbilled receivables), primarily included in accounts receivable, net, are recorded when revenue is earned in advance of customer billing schedules. Unbilled receivables totaled $15.8 million and $20.5 million as of December 31, 2025 and 2024, respectively. The long term portion of those unbilled receivables was included in other long-term assets on our consolidated balance sheets, and was not material as of December 31, 2025 and 2024.
Contract liabilities (deferred revenue) relate to payments received in advance of performance under the contract. Revenue recognized during the year ended December 31, 2025 that was included in the deferred revenue balances at January 1, 2025 was $176 million.
Additionally, we have performance obligations associated with commitments in customer contracts to perform in the future that had not yet been recognized in our consolidated financial statements. For contracts with original terms that exceed one year, those commitments not yet recognized as of December 31, 2025 were $494 million and relate primarily to Create Solutions subscriptions, Enterprise Support, and Strategic Partnerships. These commitments generally extend over the next one to five years and we expect to recognize approximately $225 million or 46% of this revenue during the next 12 months.