v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Revenue Disaggregation
Based on the information provided to and reviewed by the Company’s Chief Executive Officer (“CEO”), its chief operating decision maker, the Company believes that the nature, amount, timing and uncertainty of its revenue and cash flows and how they are affected by economic factors is most appropriately depicted based on the category of its customers. Customers are classified in categories based on the amount of their spend in a given month and individual customers may fall within different categories within a reporting period.
The Company classifies its customers into the following annual run-rate revenue (“ARR”) categories (customer spend in a month in whole dollars):
•Digital Native Enterprise (“DNE”) Customers: users that spend more than $500 in a month. DNE Customers include the following categories:
◦Above $6K and under $100K Customers: users that spend more than $500 and less than or equal to $8,333 in a month.
◦Above $100K and under $500K Customers: users that spend more than $8,333 and less than or equal to $41,667 in a month.
◦Above $500K and under $1M Customers: users that spend more than $41,667 and less than or equal to $83,333 in a month.
◦Above $1M Customers: users that spend more than $83,333 in a month.
•Developers: users that spend less than or equal to $500 in a month, except users that spend less than or equal to $50 in a month and have been on the Company’s platform for three months or less.
Revenue by customer ARR category, as determined based on the customers’ spend in a given month, was as follows:
Three Months Ended March 31,
20262025
Amount
Percentage of Revenue
Amount
Percentage of Revenue(1)
Above $6K and under $100K Customers(2)
$85,902 33 %$76,203 36 %
Above $100K and under $500K Customers(2)
24,562 10 %22,070 10 %
Above $500K and under $1M Customers(2)
8,411 3 %6,932 3 %
Above $1M Customers(2)
45,677 18 %16,359 8 %
Digital Native Enterprise Customers(2)
$164,552 64 %$121,564 57 %
Developers and other(2) (3)
93,353 36 %89,139 43 %
Total$257,905 100 %$210,703 100 %
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(1) May not recalculate due to rounding.
(2) Beginning in the fourth quarter of 2025, the Company revised its customer category naming and classification. Prior periods have been recast to reflect the effects of these changes.
(3) Beginning in the fourth quarter of 2025, Developers and other include revenue from users that spend less than or equal to $500 in a given month, revenue from certain legacy Bare Metal CPU offerings, miscellaneous revenue and other reserve adjustments. Prior periods have been recast to reflect the effect of this change.
Geographical Information
Revenue, as determined based on the Company’s customers’ billing address, was as follows:
Three Months Ended March 31,
20262025
Amount
Percentage of Revenue
AmountPercentage of Revenue
North America$112,847 44 %$77,936 37%
Europe62,613 24 %58,476 28%
Asia57,582 22 %51,016 24%
Rest of the world
24,863 10 %23,275 11%
Total$257,905 100 %$210,703 100%
Revenue derived from customers in the United States was 38% and 31% of total revenue for the three months ended March 31, 2026 and 2025, respectively.
Deferred Revenue
Deferred revenue was $6,283 and $5,882 as of March 31, 2026 and December 31, 2025, respectively. Revenue recognized during the three months ended March 31, 2026 and 2025 was $2,000 and $2,235, respectively, which was included in the deferred revenue balances at the beginning of each respective period.
Concentration of Credit Risk
The amounts reflected in the condensed consolidated balance sheets for cash and cash equivalents, marketable securities, restricted cash, and trade accounts receivable are exposed to concentrations of credit risk. Although the Company maintains cash and cash equivalents with multiple financial institutions, the deposits, at times, may exceed federally insured limits. The Company believes that the financial institutions that hold its cash and cash equivalents are financially sound and, accordingly, minimal credit risk exists with respect to these balances. The Company’s customer base consists of a significant number of geographically dispersed customers.
Remaining Performance Obligations
The Company has performance obligations associated with commitments in customer contracts for future services that have not yet been recognized in the condensed consolidated financial statements. As of March 31, 2026, the aggregate transaction price allocated to the remaining performance obligations, which includes contracts with expected term of one year or less, is $243,063 with a weighted-average life of 1.6 years. As of March 31, 2026, the Company expects to recognize $167,415 of its remaining performance obligations as revenue over the next 12 months, with the remainder recognized thereafter over the remaining life of the contracts.