The following table presents the Company’s contract assets and contract liabilities as of June 30, 2026 and as of December 31, 2025: | | | | | | | | | | | | | | | | | As of June 30, 2026 | | As of December 31, 2025 | | | (in thousands) | Contract assets | | $ | 1,319 | | | $ | 1,668 | | | Contract liabilities | | $ | 36,244 | | | $ | 40,819 | |
The following table presents revenue recognized during the three and six months ended June 30, 2026 and 2025 from amounts included in contract liability at the beginning of the period: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | (in thousands) | | Revenue recognized in the period from amounts included in contract liability at the beginning of the period | | $ | 15,211 | | | $ | 13,473 | | | $ | 24,227 | | | $ | 20,696 | |
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