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Revenue from Contracts with Customers
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The following tables present the Company’s revenues disaggregated by major products and services, geographical region and timing of revenue recognition. Certain prior period amounts for disaggregated revenues by major products and services have been reclassified to conform with the current year's presentation. The Company historically had reported revenue derived from maintenance contracts on an aggregated basis, encompassing maintenance associated with both perpetual license products and term‑based license arrangements. In connection with the Company's strategic focus on expanding its subscription‑based offerings and in response to changing customer purchasing preferences, an increasing proportion of customer contracts related to perpetual license products have transitioned to term‑based contracts. As a result, the Company has revised its presentation within the revenue‑by‑products tables to include term-based maintenance revenue within subscription revenue. Additionally, maintenance revenue associated with perpetual licenses and services revenue are now presented together, which reflects the steady decline in perpetual license arrangements. This reclassification had no impact on total revenue, operating income, or cash flows, and prior period results have been updated for comparability.
Revenue by major products and services
Three Months Ended March 31,
(In thousands)20262025
Subscription (1)$52,667 $48,692 
Perpetual maintenance and services2,693 3,611 
Hardware products10,587 11,063 
Total Revenue$65,947 $63,366 
(1) Subscription revenue during the three months ended March 31, 2025 includes $5.1 million of term maintenance revenue that has been reclassified from maintenance and services to align with the revised presentation of revenue described above.
Revenue by location of customer
We classify our sales by customer location in three geographic regions: 1) EMEA, which includes Europe, Middle East and Africa; 2) the Americas, which includes North, Central, and South America; and 3) Asia Pacific (APAC), which includes Australia and New Zealand. The breakdown of revenue in each of our major geographic areas was as follows:
Three Months Ended March 31,
(In thousands, except percentages)20262025
Revenue
EMEA$28,521 $31,006 
Americas25,149 21,095 
APAC12,277 11,265 
Total revenue$65,947 $63,366 
% of Total Revenue
EMEA43 %49 %
Americas38 %33 %
APAC19 %18 %
Timing of revenue recognition
Three Months Ended March 31,
(In thousands)20262025
Products and licenses transferred at a point in time$35,507 $37,240 
Services transferred over time30,440 26,126 
Total Revenue$65,947 $63,366 
Contract balances
The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of March 31, 2026 and December 31, 2025:
March 31,December 31,
(In thousands)20262025
Receivables, inclusive of trade and unbilled$33,245 $55,999 
Contract Assets (current and non-current)$14,595 $20,136 
Contract Liabilities (Deferred Revenue current and non-current)$63,127 $74,180 
Contract assets relate primarily to multi-year term license arrangements and the remaining contractual billings. These contract assets are transferred to receivables when the right to bill occurs over a 2 to 5 year period. The contract liabilities primarily relate to the advance consideration received from customers for subscription and maintenance services. Revenue is recognized for these services over time.
As a practical expedient, the Company does not adjust the promised amount of consideration for the effects of a significant financing component when it is expected, at contract inception, that the period between the Company's transfer of a promised product or service to a customer and when the customer pays for that product or service will be one year or less. Extended payment terms are not typically included in contracts with customers.
Revenue recognized during the three months ended March 31, 2026 included $34.8 million that was included on the December 31, 2025 consolidated balance sheet in contract liabilities. Deferred revenue decreased in the same period due to timing of annual renewals.
Transaction price allocated to the remaining performance obligations
Remaining performance obligations represent the revenue that is expected to be recognized in future periods related to performance obligations that are unsatisfied, or partially unsatisfied, as of the end of the period. The following table includes expected revenue to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2026:
(In thousands)202620272028Beyond 2028Total
Future revenue related to current unsatisfied performance obligations$47,395 $34,033 $15,020 $1,588 $98,036 
The Company applies practical expedients and does not disclose information about remaining performance obligations (a) that have original expected durations of one year or less, or (b) where revenue is recognized as invoiced.
Costs of obtaining a contract
The Company incurs incremental costs related to commissions, which can be directly tied to obtaining a contract. The Company capitalizes commissions associated with certain new contracts and amortizes the costs over a period of up to 7 years, which is the determined benefit period based on the estimated customer relationship period or customer benefit period. The Company determined the period of benefit by taking into consideration the customer contracts, its technology and other factors, including customer attrition. Commissions are earned upon invoicing to the customer. For contracts with multiple year payment terms, because the commissions that are payable after year 1 are payable based on continued employment, they are expensed when incurred. Commissions and amortization expense are included in “Sales and Marketing” expense in the condensed consolidated statements of operations.
As a practical expedient, the Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period for the assets that the Company otherwise would have recognized is one year or less. These costs are included in “Sales and Marketing” expense in the condensed consolidated statements of operations.
The following tables provide information related to the capitalized costs and amortization recognized in the current and prior period within "Other current assets" and "Other assets" on the condensed consolidated balance sheets:
(In thousands)March 31, 2026December 31, 2025
Capitalized costs to obtain contracts, current$5,267 $5,223 
Capitalized costs to obtain contracts, non-current$11,948 $12,558 
Three Months Ended March 31,
(In thousands)20262025
Amortization of capitalized costs to obtain contracts$1,333 $1,167