XML 24 R11.htm IDEA: XBRL DOCUMENT v3.25.0.1
Revenue
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
Subscription and support revenue is recognized over time and accounted for substantially all of the Company’s revenue for the years ended December 31, 2024, 2023, and 2022.
The following table summarizes the revenue by region based on the billing address of customers who have contracted to use the Company’s global network and products:
Year Ended December 31,
202420232022
(dollars in thousands)
AmountPercentage
of Revenue		AmountPercentage
of Revenue		AmountPercentage
of Revenue
United States$849,500 51 %$678,184 52 %$515,722 53 %
Europe, Middle East, and Africa
466,499 28 %356,569 28 %258,291 26 %
Asia Pacific223,234 13 %168,826 13 %133,353 14 %
Other130,393 8 %93,166 7 %67,875 7 %
Total$1,669,626 100 %$1,296,745 100 %$975,241 100 %
The following table summarizes the revenue from contracts by type of customer:
Year Ended December 31,
202420232022
(dollars in thousands)
AmountPercentage
of Revenue		AmountPercentage
of Revenue		AmountPercentage
of Revenue
Channel partners
$337,394 20 %$202,404 16 %$122,522 13 %
Direct customers
1,332,232 80 %1,094,341 84 %852,719 87 %
Total$1,669,626 100 %$1,296,745 100 %$975,241 100 %
Contract Balances
Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period. For the year ended December 31, 2024, the Company recognized revenue of $353.3 million, that was included in the corresponding contract liability balance at the beginning of the periods presented.
The Company receives payments from customers based upon contractual billing schedules; accounts receivable are recorded when the right to consideration becomes unconditional. Standard payment terms are due upon receipt. Contract assets include amounts related to the Company’s contractual right to consideration for both completed and partially completed performance obligations that have not been invoiced.
The following table summarizes the activity of the deferred contract acquisition costs:
Year Ended December 31,
202420232022
(in thousands)
Beginning balance$133,236 $93,145 $70,320 
Capitalization of contract acquisition costs
116,803 101,465 67,940 
Amortization of deferred contract acquisition costs
(77,822)(61,374)(45,115)
Ending balance$172,217 $133,236 $93,145 
The Company did not recognize any impairment losses of deferred contract acquisition costs during the periods presented.
Remaining Performance Obligations
As of December 31, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,686.5 million. As of December 31, 2024, the Company expected to recognize 70% of its remaining performance obligations as revenue over the next 12 months with the remainder recognized thereafter.