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Revenue | 3 Months Ended
--- | ---
Mar. 31, 2025
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 three months ended March 31, 2025 and 2024. 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:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
| (dollars in thousands) |  |
| Amount |  | Percentage of Revenue |  | Amount |  | Percentage of Revenue |  |  |  |  |  |  |  |
United States | $ | 234,887 |  |  | 49 | % |  | $ | 196,463 |  |  | 52 | % |  |  |  |  |  |  |  |
Europe, Middle East, and Africa | 133,853 |  |  | 28 | % |  | 105,384 |  |  | 28 | % |  |  |  |  |  |  |  |
Asia Pacific | 73,395 |  |  | 15 | % |  | 47,651 |  |  | 12 | % |  |  |  |  |  |  |  |
Other | 36,952 |  |  | 8 | % |  | 29,104 |  |  | 8 | % |  |  |  |  |  |  |  |
Total | $ | 479,087 |  |  | 100 | % |  | $ | 378,602 |  |  | 100 | % |  |  |  |  |  |  |  |
The following table summarizes the revenue from contracts by type of customer:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
| (dollars in thousands) |  |
| Amount |  | Percentage of Revenue |  | Amount |  | Percentage of Revenue |  |  |  |  |  |  |  |
Channel partners | $ | 112,555 |  |  | 23 | % |  | $ | 70,451 |  |  | 19 | % |  |  |  |  |  |  |  |
Direct customers | 366,532 |  |  | 77 | % |  | 308,151 |  |  | 81 | % |  |  |  |  |  |  |  |
Total | $ | 479,087 |  |  | 100 | % |  | $ | 378,602 |  |  | 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 three months ended March 31, 2025, the Company recognized revenue of $240.5 million, that was included in the corresponding contract liability balance at the beginning of the period 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:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
| (in thousands) |  |
Beginning balance | $ | 172,217 |  |  | $ | 133,236 |  |  |  |  |
Capitalization of contract acquisition costs | 25,458 |  |  | 22,398 |  |  |  |  |
Amortization of deferred contract acquisition costs | (23,132) |  |  | (18,107) |  |  |  |  |
Ending balance | $ | 174,543 |  |  | $ | 137,527 |  |  |  |  |
The Company did not recognize any impairment losses of deferred contract acquisition costs during the periods presented. Remaining Performance Obligations As of March 31, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,864.2 million. As of March 31, 2025, the Company expected to recognize 66% of its remaining performance obligations as revenue over the next 12 months with the remainder recognized thereafter.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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