v3.26.3
Revenue Recognition
 9 Months Ended
Aug. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Timing of Revenue Recognition

Our revenues are derived from licensing our products and from related services, which consist of maintenance, SaaS, and professional services. Information relating to revenue from external customers by revenue type is as follows:
 
Three Months EndedNine Months Ended
(in thousands)August 31, 2026August 31, 2025August 31, 2026August 31, 2025
Performance obligations transferred at a point in time:
Software licenses$63,556 $63,437 $200,116 $172,677 
Performance obligations transferred over time:
Maintenance100,016 104,849 301,577 307,875 
SaaS72,623 71,512 216,089 213,027 
Professional services9,810 9,997 29,487 31,586 
Total revenue$246,005 $249,795 $747,269 $725,165 

Geographic Revenue

In the following table, revenue attributed to North America includes sales to customers in the U.S. and Canada and sales to certain multinational organizations. Revenue from EMEA, Latin America, and the Asia Pacific region includes sales to customers in each region plus sales from the U.S. to distributors in these regions. Information relating to revenue from external customers from different geographical areas is as follows:
 
Three Months EndedNine Months Ended
(in thousands)August 31, 2026August 31, 2025August 31, 2026August 31, 2025
North America$159,357 $163,404 $474,575 $465,376 
EMEA68,994 68,339 217,982 208,321 
Latin America6,456 6,221 17,772 16,126 
Asia Pacific11,198 11,831 36,940 35,342 
Total revenue$246,005 $249,795 $747,269 $725,165 
No single customer, partner, or country outside the U.S. accounted for more than 10% of our total revenue for the three and nine months ended August 31, 2026 or 2025.

Contract Balances

Unbilled Receivables and Contract Assets

As of August 31, 2026, billing of our non-current unbilled receivables is expected to occur as follows:
(in thousands)
2027$8,999 
202820,813 
20299,601 
Total$39,413 

Contract assets arise when revenue is recognized in excess of billings and the right to the amount due from customers is conditioned on something other than the passage of time, such as the completion of a related performance obligation. We did not have any net contract assets as of August 31, 2026 or November 30, 2025.

Deferred Revenue

Deferred revenue is recorded when revenue is recognized subsequent to customer invoicing. Deferred revenue expected to be recognized as revenue more than one year subsequent to the balance sheet date is included in long-term liabilities on the condensed consolidated balance sheets. Our deferred revenue balance is primarily made up of deferred maintenance and deferred revenue related to our SaaS offerings.

As of August 31, 2026, the changes in deferred revenue were as follows:

(in thousands)
Balance, December 1, 2025$425,079 
Billings and other728,657 
Revenue recognized that was deferred in prior periods(342,207)
Revenue recognized from current period arrangements(405,062)
Balance, August 31, 2026$406,467 

Transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. As of August 31, 2026, transaction price allocated to remaining performance obligations was $497.8 million. We expect to recognize approximately 75% of the revenue within the next year and the remainder thereafter.

Deferred Contract Costs

Certain of our sales incentive programs meet the requirements to be capitalized. Depending upon the sales incentive program and the related revenue arrangement, such capitalized costs are amortized over the longer of (i) the product life, which is generally three to five years; or (ii) the term of the related revenue contract. We determined that a three to five year product life represents the period of benefit that we receive from these incremental costs based on both qualitative and quantitative factors, which include customer contracts, industry norms, and product upgrades. Total deferred contract costs were $6.2 million and $6.5 million as of August 31, 2026 and November 30, 2025, respectively, and are included in other current assets and other assets on our condensed consolidated balance sheets. Amortization of deferred contract costs is included in sales and marketing expense on our condensed consolidated statements of operations and was insignificant in all periods presented.