The components of contract assets and contract liabilities consisted of the following: | | | | | | | | | | | | | September 30, | | December 31, | | 2026 | | 2025 | | (in thousands) | Contract assets - current: | | | | Unbilled revenue | $ | 26,982 | | | $ | 28,595 | | | | | | Total contract assets - current | $ | 26,982 | | | $ | 28,595 | | | | | | Contract assets - long-term: | | | | | | | | Other contract assets - long-term | 382 | | | 680 | | Total contract assets - long-term(1) | $ | 382 | | | $ | 680 | | | | | | Contract liabilities - current: | | | | Deferred revenue - current | $ | 17,718 | | | $ | 20,518 | | | | | | Total contract liabilities - current | $ | 17,718 | | | $ | 20,518 | | | | | | Contract liabilities - long-term: | | | | Deferred revenue - long-term | $ | — | | | $ | 9,948 | | Other contract liabilities - long-term | 281 | | | 555 | | Total contract liabilities - long-term(2) | $ | 281 | | | $ | 10,503 | |
(1) Total contract assets - long term is included in other assets in the unaudited condensed consolidated balance sheets. (2) Total contract liabilities - long term is included in other liabilities in the unaudited condensed consolidated balance sheets. Changes in short-term and long-term contract assets and contract liabilities for the nine months ended September 30, 2026 were as follows: | | | | | | | | | | | | | Contract Assets | | Contract Liabilities | | (in thousands) | Balance as of January 1, 2026 | $ | 29,275 | | | $ | 31,021 | | Billings or revenue recognized that was included in the beginning balance | (18,596) | | | (2,728) | | Changes in contract assets or contract liabilities, net of reclassification to receivables | 15,712 | | | (9,721) | | Cumulative catch-up adjustment arising from changes in estimates to complete during the period | 1,271 | | | (299) | | | | | | Changes in costs to fulfill and amortization of commission costs | (298) | | | — | | Changes in contract commission costs | — | | | (274) | | Balance as of September 30, 2026 | $ | 27,364 | | | $ | 17,999 | |
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