v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregated Revenue
The following tables disaggregate our revenue by source and timing of recognition:
Three Months Ended March 31, 2026
SendTech SolutionsPresort Services
Revenue from services and products
Revenue from leasing transactions and financingTotal consolidated revenue
Major service/product lines
Services$143,104 $163,466 $306,570 $— $306,570 
Products52,571 — 52,571 36,079 88,650 
Financing and other— — — 82,193 82,193 
Subtotal195,675 163,466 359,141 $118,272 $477,413 
Revenue from leasing transactions and financing118,272 — 118,272 
     Total revenue$313,947 $163,466 $477,413 
Timing of revenue recognition from services and products
Services/products transferred at a point in time
$65,547 $— $65,547 
Services/products transferred over time
130,128 163,466 293,594 
      Total$195,675 $163,466 $359,141 


Three Months Ended March 31, 2025
SendTech SolutionsPresort Services
Revenue from services and products
Revenue from leasing transactions and financingTotal consolidated revenue
Major service/product lines
Services$140,618 $177,814 $318,432 $— $318,432 
Products53,252 — 53,252 39,938 93,190 
Financing and other— — — 81,798 81,798 
Subtotal193,870 177,814 371,684 $121,736 $493,420 
Revenue from leasing transactions and financing121,736 — 121,736 
     Total revenue$315,606 $177,814 $493,420 
Timing of revenue recognition from services and products
Services/products transferred at a point in time
$66,403 $— $66,403 
Services/products transferred over time
127,467 177,814 305,281 
      Total$193,870 $177,814 $371,684 
Our performance obligations for revenue from services and products are as follows:
Services revenue includes revenues from digital shipping and mailing technology solutions and the maintenance, professional and subscription services related to those solutions, mail processing services and cross-border solutions. Revenues for mail processing services and cross-border solutions are recognized over time using an output method based on the number of parcels or mail pieces either processed or delivered, depending on the service type, since that measure best depicts the value of goods and services transferred to the client over the contract period. Contract terms for these services initially range from one to five years and contain annual renewal options. Revenue for shipping subscription services is recognized ratably over the contract period as the client obtains equal benefit from these services throughout the period. Revenue for maintenance and subscription services is recognized ratably over
the contract period, which ranges from one to five years, and revenue for professional services is recognized when services are provided.
Products revenue generally includes the sale of mailing and shipping equipment and related supplies. We recognize revenue upon delivery for self-install equipment and supplies and upon acceptance or installation for other equipment.
Financing and other revenue includes revenue from sales-type and operating leases, finance income, fees and investment income, gains and losses at the Pitney Bowes Bank.
Advance Billings from Contracts with Customers
Balance sheet locationMarch 31, 2026December 31, 2025Increase/ (decrease)
Advance billings, currentAdvance billings$64,321 $63,528 $793 
Advance billings, noncurrent Other noncurrent liabilities$98 $102 $(4)

Advance billings are recorded when cash payments are due in advance of our performance. Revenue is recognized ratably over the contract term. Items in advance billings primarily relate to maintenance services on mailing equipment. Revenue recognized during the period includes $29 million of advance billings at the beginning of the period. Current advance billings at March 31, 2026 and December 31, 2025 does not include $8 million and $6 million, respectively, from leasing transactions.

Future Performance Obligations
Future performance obligations primarily include maintenance and subscription services bundled with our leasing contracts. The transaction prices allocated to future performance obligations will be recognized as follows:
Remainder of 202620272028-2031Total
SendTech Solutions$207,587 $197,642 $243,456 $648,685 
These amounts do not include revenue for performance obligations under contracts with terms less than 12 months or revenue for performance obligations where revenue is recognized based on the amount billable to the customer.