v3.26.1
Revenue from Contracts with Customers (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Revenues Disaggregated by Major Products and Services, Geographical Region and Timing of Revenue Recognition
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 
Schedule of Receivables, Contract Assets, and Contract Liabilities from Contracts with Customers
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 
Schedule of Expected Revenue to be Recognized in the Future 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 
Schedule of Information Related to the Capitalized Costs and Amortization Recognized in the Current and Prior Period
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