v3.26.1
Revenue
 6 Months Ended
Jun. 30, 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 June 30, 2026
SendTech SolutionsPresort Services
Revenue from services and products
Revenue from leasing transactions and financingTotal consolidated revenue
Major service/product lines
Services$141,949 $142,568 $284,517 $— $284,517 
Products49,240 — 49,240 38,283 87,523 
Financing and other— — — 79,458 79,458 
Subtotal191,189 142,568 333,757 $117,741 $451,498 
Revenue from leasing transactions and financing117,741 — 117,741 
     Total revenue$308,930 $142,568 $451,498 
Timing of revenue recognition from services and products
Services/products transferred at a point in time
$62,630 $— $62,630 
Services/products transferred over time
128,559 142,568 271,127 
      Total$191,189 $142,568 $333,757 


Three Months Ended June 30, 2025
SendTech SolutionsPresort Services
Revenue from services and products
Revenue from leasing transactions and financingTotal consolidated revenue
Major service/product lines
Services$140,230 $150,193 $290,423 $— $290,423 
Products54,149 — 54,149 36,731 90,880 
Financing and other— — — 80,606 80,606 
Subtotal194,379 150,193 344,572 $117,337 $461,909 
Revenue from leasing transactions and financing117,337 — 117,337 
     Total revenue$311,716 $150,193 $461,909 
Timing of revenue recognition from services and products
Services/products transferred at a point in time
$69,650 $— $69,650 
Services/products transferred over time
124,729 150,193 274,922 
      Total$194,379 $150,193 $344,572 
Six Months Ended June 30, 2026
SendTech SolutionsPresort Services
Revenue from services and products
Revenue from leasing transactions and financingTotal consolidated revenue
Major service/product lines
Services$285,053 $306,034 $591,087 $— $591,087 
Products101,812 — 101,812 74,361 176,173 
Financing and other— — — 161,651 161,651 
Subtotal386,865 306,034 692,899 $236,012 $928,911 
Revenue from leasing transactions and financing236,012 — 236,012 
     Total revenue$622,877 $306,034 $928,911 
Timing of revenue recognition from services and products
Services/products transferred at a point in time
$128,177 $— $128,177 
Services/products transferred over time
258,688 306,034 564,722 
      Total$386,865 $306,034 $692,899 


Six Months Ended June 30, 2025
SendTech SolutionsPresort ServicesRevenue from products and servicesRevenue from leasing transactions and financingTotal consolidated revenue
Major service/product lines
Services$280,848 $328,007 $608,855 $— $608,855 
Products107,401 — 107,401 76,669 184,070 
Financing and other— — — 162,404 162,404 
Subtotal388,249 328,007 716,256 $239,073 $955,329 
Revenue from leasing transactions and financing239,073 — 239,073 
     Total revenue$627,322 $328,007 $955,329 
Timing of revenue recognition from services and products
Services/products transferred at a point in time
$136,053 $— $136,053 
Services/products transferred over time
252,196 328,007 580,203 
      Total$388,249 $328,007 $716,256 

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 income and losses from investment activity at the Pitney Bowes Bank.
Advance Billings
Balance sheet locationJune 30, 2026December 31, 2025Increase/ (decrease)
Advance billings, currentAdvance billings$60,539 $63,528 $(2,989)
Advance billings, noncurrent Other noncurrent liabilities$85 $102 $(17)

Advance billings from contracts with customers 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 service agreements on mailing equipment. Revenue recognized during the period includes $42 million of advance billings at the beginning of the period. Current advance billings at June 30, 2026 and December 31, 2025 does not include $11 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$153,586 $207,173 $275,780 $636,539 
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.