v3.25.4
Revenue Recognition and Deferred Costs
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition and Deferred Costs

3. Revenue recognition and deferred costs

Revenue recognition

The Company’s source of revenue consists of subscription solutions fees and partner and services fees. These services allow customers to access the Company’s subscription solutions over the contract period. The customer is not allowed to take possession of the solutions or transfer the solutions. The Company’s revenue arrangements do not contain general rights of refund in the event of cancellations.

Disaggregation of revenue

The following table disaggregates revenue by major source:

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Subscription solutions fees

 

$

255,623

 

 

$

247,870

 

 

$

229,265

 

Partner and services fees

 

 

86,726

 

 

 

85,057

 

 

 

80,129

 

Revenue

 

$

342,349

 

 

$

332,927

 

 

$

309,394

 

 

Revenue by geographic region was as follows:

 

 

Year ended December 31,

(in thousands)

 

2025

 

 

2024

 

 

2023

 

 

Revenue:

 

 

 

 

 

 

 

 

 

 

Americas – United States

 

$

259,090

 

 

$

253,484

 

 

$

236,502

 

 

EMEA

 

 

42,605

 

 

 

38,031

 

 

 

34,661

 

 

APAC

 

 

24,751

 

 

 

25,750

 

 

 

24,128

 

 

Rest of World

 

 

15,903

 

 

 

15,662

 

 

 

14,103

 

 

Revenue

 

$

342,349

 

 

$

332,927

 

 

$

309,394

 

 

Revenue by geographical region is determined based on the region of the Company’s contracting entity, which may be different than the region of the customer. Revenue attributed to the United States was approximately 76 percent during fiscal 2025, 2024 and 2023. Revenue attributed to EMEA was approximately 12 percent, 11 percent, and 11 percent during fiscal 2025, 2024, and 2023, respectively. No single region, other than Unites States and EMEA, represented more than ten percent of total revenue during fiscal 2025, 2024 and 2023.

Deferred commissions

The Company amortizes certain sales commissions costs that are considered incremental and recoverable costs of obtaining a contract with a customer. The portion of capitalized costs expected to be amortized during the succeeding twelve-month period is recorded in current assets as deferred commissions, and the remainder is recorded in deferred commissions, net of current portion within the consolidated balance sheets. The Company did not recognize an impairment of deferred commissions during the years ended December 31, 2025 , 2024, and 2023, respectively.

Sales commissions of $4.5 million and $9.1 million were deferred for the years ended December 31, 2025 and 2024, respectively; and deferred commission amortization expense was $9.6 million, $9.9 million and $7.3 million for the years ended December 31, 2025, 2024 and 2023, respectively.