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Revenue from Contracts with Customers | 9 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | 2. Revenue from Contracts with Customers Receivables, Co ntract Assets and Contract Liabilities
(in thousands) |  | June 30, 2024 |  |  | September 30, 2023 |
Short-term and long-term receivables |  | $ | 840,382 |  |  | $ | 997,490 |
Contract asset |  | $ | 13,443 |  |  | $ | 16,465 |
Deferred revenue |  | $ | 687,614 |  |  | $ | 681,550 |
During the nine months ended June 30, 2024, we recognized $619.2 million of revenue that was included in Deferred revenue as of September 30, 2023. The remainder of the change was driven by additional deferrals, primarily from new billings. Our multi-year, non-cancellable on-premises subscription contracts provide customers with an annual right to exchange software within the subscription with other software. As of June 30, 2024 and September 30, 2023, our total revenue liability was $27.0 million and $23.7 million, respectively, primarily associated with the annual right to exchange on-premises subscription software. Remaining Performance Obligations Our contracts with customers include transaction price amounts allocated to performance obligations that will be satisfied and recognized as revenue at a later date. As of June 30, 2024, the transaction price amounts include performance obligations of $687.6 million recorded in Deferred revenue and $1,382.2 million that are not yet recorded in the Consolidated Balance Sheets. Of the total $2,069.8 million, we expect to recognize app roximately 59% over the next 12 months, 26% over the next 13 to 24 months, and the remaining amount therea fter. Disaggregation of Revenue
(in thousands) |  | Three months ended |  |  | Nine months ended |
|  | June 30, 2024 |  |  | June 30, 2023 |  |  | June 30, 2024 |  |  | June 30, 2023 |
Recurring revenue(1) |  | $ | 481,559 |  |  | $ | 498,410 |  |  | $ | 1,551,600 |  |  | $ | 1,407,662 |
Perpetual license |  |  | 7,050 |  |  |  | 8,251 |  |  |  | 22,243 |  |  |  | 30,417 |
Professional services |  |  | 30,030 |  |  |  | 35,681 |  |  |  | 98,082 |  |  |  | 112,354 |
Total revenue |  | $ | 518,639 |  |  | $ | 542,342 |  |  | $ | 1,671,925 |  |  | $ | 1,550,433 |
(1) Recurring revenue is comprised of on-premises subscription, perpetual support, SaaS, and hosting services revenue. Our international revenue is presented based on the location of our customer. Revenue for the geographic regions in which we operate is presented below.
(in thousands) |  | Three months ended |  |  | Nine months ended |
|  | June 30, 2024 |  |  | June 30, 2023 |  |  | June 30, 2024 |  |  | June 30, 2023 |
Americas |  | $ | 253,592 |  |  | $ | 278,329 |  |  | $ | 781,480 |  |  | $ | 761,617 |
Europe |  |  | 170,617 |  |  |  | 173,559 |  |  |  | 624,884 |  |  |  | 549,835 |
Asia Pacific |  |  | 94,430 |  |  |  | 90,454 |  |  |  | 265,561 |  |  |  | 238,981 |
Total revenue |  | $ | 518,639 |  |  | $ | 542,342 |  |  | $ | 1,671,925 |  |  | $ | 1,550,433 |

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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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