| Schedule of timing of performance obligation |
| | | | | | | When Performance Obligation is Typically | | | Performance Obligation | | Satisfied | | When Payment is Typically Due | Software and Product Revenue | | | | | Software licenses (perpetual or term) | | For perpetual licenses, typically when made available for download (point in time); for term-based licenses, at the beginning of the specified term (point in time) | | Generally, within 30-60 days of invoicing, except for term licenses which may be paid for over time | Software licenses (subscription) | | Upon activation of hosted site (over time) | | Generally, within 30-60 days of invoicing | Hardware | | When control of the hardware passes to the customer; typically, upon delivery (point in time) | | Generally, within 30-60 days of invoicing | Software upgrades | | Upon transfer of control; typically, when made available for download (point in time) | | Generally, within 30-60 days of invoicing | Customer Support Revenue | | | | | Customer support | | Ratably over the course of the support contract (over time) | | Generally, within 30-60 days of invoicing | Professional Services | | | | | Other professional services (excluding training services) | | As work is performed (over time), typically on the input method based on hours incurred | | Generally, within 30-60 days of invoicing (upon completion of services) | Training | | As the training is delivered (over time), typically one to five days | | Generally, within 30-60 days of services being performed |
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| Schedule of disaggregation of revenue |
| | | | | | | | | | | | | | | | | | | Service revenue | | | | | Product | | Service revenue | | (professional | | | | Three months ended March 31, 2026 | revenue | | (maintenance) | | services) | | Total revenue | United States | $ | 20,941 | | $ | 33,733 | | $ | 17,904 | | $ | 72,578 | Europe, Middle East and Africa | | 16,962 | | | 14,683 | | | 7,425 | | | 39,070 | Asia Pacific | | 27,934 | | | 9,230 | | | 3,763 | | | 40,927 | Other | | 2,277 | | | 6,021 | | | 1,733 | | | 10,031 | | $ | 68,114 | | $ | 63,667 | | $ | 30,825 | | $ | 162,606 |
| | | | | | | | | | | | | | | | | | | Service revenue | | | | | Product | | Service revenue | | (professional | | | | Three months ended March 31, 2025 | revenue | | (maintenance) | | services) | | Total revenue | United States | $ | 29,341 | | $ | 33,324 | | $ | 20,030 | | $ | 82,695 | Europe, Middle East and Africa | | 19,460 | | | 17,383 | | | 8,656 | | | 45,499 | Asia Pacific | | 31,039 | | | 9,400 | | | 2,740 | | | 43,179 | Other | | 2,151 | | | 6,315 | | | 1,440 | | | 9,906 | | $ | 81,991 | | $ | 66,422 | | $ | 32,866 | | $ | 181,279 |
The Company’s product revenue from its direct sales program and from indirect sales through its channel partner program for the three months ended March 31, 2026 and 2025 was as follows (in thousands): | | | | | | | Three months ended | | March 31, | | March 31, | | 2026 | | 2025 | Indirect sales through channel partner program | $ | 19,329 | | $ | 22,735 | Direct sales | | 48,785 | | | 59,256 | | $ | 68,114 | | $ | 81,991 |
The Company’s product revenue from sales to enterprise customers and from sales to service provider customers for the three months ended March 31, 2026 and 2025 was as follows (in thousands): | | | | | | | Three months ended | | March 31, | | March 31, | | 2026 | | 2025 | Sales to enterprise customers | $ | 21,516 | | $ | 23,232 | Sales to service provider customers | | 46,598 | | | 58,759 | | $ | 68,114 | | $ | 81,991 |
The Company’s product revenue and service revenue components by segment for the three months ended March 31, 2026 and 2025 were as follows (in thousands): | | | | | | | Three months ended | | March 31, | | March 31, | | 2026 | | 2025 | Product revenue: | | | | | | Cloud and Edge | $ | 26,259 | | $ | 31,861 | IP Optical Networks | | 41,855 | | | 50,130 | Total product revenue | $ | 68,114 | | $ | 81,991 | | | | | | | Service revenue: | | | | | | Maintenance: | | | | | | Cloud and Edge | $ | 50,232 | | $ | 50,768 | IP Optical Networks | | 13,435 | | | 15,654 | Total maintenance revenue | | 63,667 | | | 66,422 | Professional services: | | | | | | Cloud and Edge | | 23,021 | | | 24,962 | IP Optical Networks | | 7,804 | | | 7,904 | Total professional services revenue | | 30,825 | | | 32,866 | Total service revenue | $ | 94,492 | | $ | 99,288 |
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| Schedule of customer assets and liabilities |
The changes in the Company’s accounts receivable, unbilled receivables and deferred revenue balances for the three months ended March 31, 2026 were as follows (in thousands): | | | | | | | | | | | | | | | | Unbilled | | Deferred | | Deferred | | Accounts | | accounts | | revenue | | revenue | | receivable | | receivable | | (current) | | (long-term) | Balance at January 1, 2026 | $ | 161,007 | | $ | 70,878 | | $ | 124,425 | | $ | 31,654 | Increase (decrease), net | | (19,051) | | | (8,776) | | | (1,806) | | | 769 | Balance at March 31, 2026 | $ | 141,956 | | $ | 62,102 | | $ | 122,619 | | $ | 32,423 |
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