v3.26.1
Revenue Recognition
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

3. Revenue Recognition

Disaggregation of Revenue

The following table presents revenue by category:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

Amount

 

 

Percentage
of Revenue

 

 

Amount

 

 

Percentage
of Revenue

 

 

Amount

 

 

Percentage
of Revenue

 

 

Amount

 

 

Percentage
of Revenue

 

 

 

(in thousands, except percentages)

 

Self-managed subscription

 

$

76,284

 

 

 

47

%

 

$

70,118

 

 

 

55

%

 

$

151,365

 

 

 

48

%

 

$

139,915

 

 

 

56

%

Subscription

 

 

68,057

 

 

 

42

 

 

 

63,969

 

 

 

50

 

 

 

135,443

 

 

 

43

 

 

 

127,784

 

 

 

51

 

License

 

 

8,227

 

 

 

5

 

 

 

6,149

 

 

 

5

 

 

 

15,922

 

 

 

5

 

 

 

12,131

 

 

 

5

 

SaaS

 

 

87,488

 

 

 

53

 

 

 

57,102

 

 

 

45

 

 

 

166,384

 

 

 

52

 

 

 

109,712

 

 

 

44

 

Total subscription revenue

 

$

163,772

 

 

 

100

%

 

$

127,220

 

 

 

100

%

 

$

317,749

 

 

 

100

%

 

$

249,627

 

 

 

100

%

The following table summarizes revenue by region based on the shipping address of customers:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

Amount

 

 

Percentage
of Revenue

 

 

Amount

 

 

Percentage
of Revenue

 

 

Amount

 

 

Percentage
of Revenue

 

 

Amount

 

 

Percentage
of Revenue

 

 

 

(in thousands, except percentages)

 

United States

 

$

97,370

 

 

 

59

%

 

$

76,175

 

 

 

60

%

 

$

188,307

 

 

 

59

%

 

$

149,100

 

 

 

60

%

Israel

 

 

4,834

 

 

 

3

 

 

 

3,948

 

 

 

3

 

 

 

9,504

 

 

 

3

 

 

 

7,689

 

 

 

3

 

Rest of world

 

 

61,568

 

 

 

38

 

 

 

47,097

 

 

 

37

 

 

 

119,938

 

 

 

38

 

 

 

92,838

 

 

 

37

 

Total subscription revenue

 

$

163,772

 

 

 

100

%

 

$

127,220

 

 

 

100

%

 

$

317,749

 

 

 

100

%

 

$

249,627

 

 

 

100

%

Contract Balances

Of the $341.5 million and $275.5 million of deferred revenue recorded as of March 31, 2026 and 2025, respectively, the Company recognized $134.3 million and $105.6 million as revenue during the three months ended June 30, 2026 and 2025, respectively. Of the $342.0 million and $274.2 million of deferred revenue recorded as of December 31, 2025 and 2024, respectively, the Company recognized $219.6 million and $176.6 million as revenue during the six months ended June 30, 2026 and 2025, respectively.

Remaining Performance Obligation

The Company’s remaining performance obligations represent contracted revenue that has not yet been recognized. It includes deferred revenue and non-cancelable amounts that will be invoiced and recognized in future periods, and excludes usage-based fees from SaaS subscriptions in excess of minimum usage commitments from the remaining performance obligations. As of June 30, 2026, the aggregate amount of the transaction price allocated to remaining performance obligations was $659.0 million, which consists of billed considerations of $385.8 million and unbilled considerations of $273.2 million, that the Company expects to recognize as revenue. As of June 30, 2026, the Company expects to recognize 67% of its remaining performance obligations as revenue over the next 12 months, and the remainder thereafter.

Cost to Obtain a Contract

Amortization of deferred contract acquisition costs was $6.6 million and $4.7 million for the three months ended June 30, 2026 and 2025, respectively, and $12.5 million and $9.1 million for the six months ended June 30, 2026 and 2025, respectively.