v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue

2. Revenue

The Company disaggregates revenue from its arrangements with customers by type of service as it believes these categories best depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

The following table represents a disaggregation of revenue from arrangements with customers for the three months ended March 31, 2026 and 2025, respectively:

 

 

Three Months Ended March 31,

 

(in thousands)

 

2026

 

 

2025

 

Subscription services

 

$

53,571

 

 

$

57,311

 

Professional services

 

 

2,358

 

 

 

1,880

 

Total revenue

 

$

55,929

 

 

$

59,191

 

Deferred Contract Costs

A summary of the activity impacting the deferred contract costs for the three months ended March 31, 2026 and the year ended December 31, 2025 is presented below:

(in thousands)

 

Three Months Ended March 31, 2026

 

 

Year Ended December 31, 2025

 

Balance at beginning of period

 

$

25,606

 

 

$

28,125

 

Costs amortized

 

 

(3,740

)

 

 

(15,871

)

Additional amounts deferred

 

 

2,868

 

 

 

13,352

 

Balance at end of period

 

 

24,734

 

 

 

25,606

 

Classified as:

 

 

 

 

 

 

Current

 

 

12,441

 

 

 

12,766

 

Non-current

 

 

12,293

 

 

 

12,840

 

Total deferred contract costs (deferred commissions)

 

$

24,734

 

 

$

25,606

 

Contract Liabilities

A summary of the activity impacting deferred revenue balances during the three months ended March 31, 2026 and for the year ended December 31, 2025 is presented below:

(in thousands)

 

Three Months Ended March 31, 2026

 

 

Year Ended December 31, 2025

 

Balance at beginning of period

 

$

99,372

 

 

$

93,376

 

Revenue recognized

 

 

(55,929

)

 

 

(241,521

)

Additional amounts deferred

 

 

55,728

 

 

 

247,517

 

Balance at end of period

 

$

99,171

 

 

$

99,372

 

Remaining Performance Obligations

Transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes unearned revenue and unbilled amounts that will be invoiced and recognized as revenue in future periods. Transaction price allocated to remaining performance obligations is influenced by several factors, including seasonality, the timing of renewals, and disparate contract terms. The Company’s backlog represents installment billings for periods beyond the current billing cycle. The majority of the Company’s noncurrent remaining performance obligations will be recognized in the next 13 to 36 months.

The remaining performance obligations consisted of the following:

(in thousands)

 

March 31,
2026

 

 

December 31,
2025

 

Current

 

$

160,565

 

 

$

165,087

 

Non-current

 

 

69,943

 

 

 

75,368

 

Total

 

$

230,508

 

 

$

240,455