v3.26.3
Note 3 - Revenue Recognition
 9 Months Ended
Sep. 30, 2026
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

3. REVENUE RECOGNITION

 

Revenues are recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods or services. Revenue is recognized based on the following five step model:

 

 

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Identification of the contract with a customer

 

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Identification of the performance obligations in the contract

 

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Determination of the transaction price

 

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Allocation of the transaction price to the performance obligations in the contract

 

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Recognition of revenue when, or as, the Company satisfies a performance obligation

 

The following table represents revenues disaggregated by revenue source (in thousands). Sales taxes are excluded from revenues.

 

  

Three Months Ended September 30,

  

Nine Months Ended September 30,

 
  

2026

  

2025

  

2026

  

2025

 

Subscription services

 $80,043  $73,887  $238,420  $216,617 

Professional services

  3,266   2,587   9,824   7,738 

Total revenues, net

 $83,309  $76,474  $248,244  $224,355 

 

For the  three months ended September 30, 2026 and 2025, the Company recognized a reduction of $29,000 and an expense of  $0.2 million in impairment losses on receivables and contract assets arising from the Company's contracts with customers, respectively. For the  nine months ended September 30, 2026 and 2025, the Company recognized  $0.2 million and  $0.6 million in impairment losses on receivables and contract assets arising from the Company's contracts with customers, respectively.

 

During the three months ended  September 30, 2026 and 2025, the Company recognized revenues of $47.3 million and $45.9 million, respectively, from amounts included in deferred revenue at the beginning of the respective periods. During the nine months ended September 30, 2026 and 2025, the Company recognized revenues of $83.2 million and $81.9 million, respectively, from amounts included in deferred revenue at the beginning of the respective periods. As of September 30, 2026, approximately $686 million of revenue is expected to be recognized from remaining performance obligations under contracts with customers. The Company expects to recognize revenue related to approximately 41% of these remaining performance obligations over the next 12 months, 68% over the next 24 months, and 86% over the next 36 months, with the remaining amounts recognized thereafter.