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Deferred Commissions | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Deferred Commissions | Disaggregation of Revenue The tables below show disaggregation of revenue into categories that reflect how economic factors affect the nature, amount, timing, and uncertainty of revenues and cash flows. Recurring Revenues The majority of our revenues are comprised of revenues from subscriptions and maintenance, which we consider to be recurring revenues. Subscription revenues primarily consist of revenues derived from our SaaS arrangements and transaction-based fees. These revenues are considered recurring because revenues from these sources are expected to re-occur in similar annual amounts for the term of our relationship with the client. Transaction-based fees are generally the result of multi-year contracts with our clients that result in fees generated by payment transactions and digital government services and are collected on a recurring basis during the contract term. The contract terms for subscription arrangements range from one to 10 years but are typically contracted for initial periods of one to three years. Nearly all of our on-premises software clients contract with us for maintenance and support. Maintenance and support are generally provided under auto-renewing annual contracts or multi-year contracts. We consider all other revenue categories to be non-recurring revenues. Recurring revenues and non-recurring revenues recognized during the period are as follows:
For the three months ended September 30, 2025 |  | Enterprise Software |  | Platform Technologies |  | Corporate Unallocated |  | Totals
Revenues |  |  |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |  |  |
SaaS |  | $ | 178,383 |  |  | $ | 21,403 |  |  | $ | — |  |  | $ | 199,786 |
Transaction-based fees |  | 78,331 |  |  | 122,977 |  |  | — |  |  | 201,308 |
Maintenance |  | 105,450 |  |  | 5,862 |  |  | — |  |  | 111,312 |
Total recurring revenues |  | 362,164 |  |  | 150,242 |  |  | — |  |  | 512,406 |
Professional services |  | 55,769 |  |  | 8,959 |  |  | — |  |  | 64,728 |
Software licenses and royalties |  | 5,137 |  |  | (37) |  |  | — |  |  | 5,100 |
Hardware and other |  | 13,036 |  |  | 128 |  |  | 481 |  |  | 13,645 |
Total non-recurring revenues |  | 73,942 |  |  | 9,050 |  |  | 481 |  |  | 83,473 |
Total |  | $ | 436,106 |  |  | $ | 159,292 |  |  | $ | 481 |  |  | $ | 595,879 |
For the three months ended September 30, 2024 |  | Enterprise Software |  | Platform Technologies |  | Corporate Unallocated |  | Totals
Revenues |  |  |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |  |  |
SaaS |  | $ | 144,445 |  |  | $ | 22,179 |  |  | $ | — |  |  | $ | 166,624 |
Transaction-based fees |  | 61,561 |  |  | 118,985 |  |  | — |  |  | 180,546 |
Maintenance |  | 109,346 |  |  | 6,241 |  |  | — |  |  | 115,587 |
Total recurring revenues |  | 315,352 |  |  | 147,405 |  |  | — |  |  | 462,757 |
Professional services |  | 53,947 |  |  | 10,515 |  |  | — |  |  | 64,462 |
Software licenses and royalties |  | 5,424 |  |  | 764 |  |  | — |  |  | 6,188 |
Hardware and other |  | 9,025 |  |  | 905 |  |  | — |  |  | 9,930 |
Total non-recurring revenues |  | 68,396 |  |  | 12,184 |  |  | — |  |  | 80,580 |
Total |  | $ | 383,748 |  |  | $ | 159,589 |  |  | $ | — |  |  | $ | 543,337 |
For the nine months ended September 30, 2025 |  | Enterprise Software |  | Platform Technologies |  | Corporate Unallocated |  | Totals
Revenues |  |  |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |  |  |
SaaS |  | $ | 505,183 |  |  | $ | 64,254 |  |  | $ | — |  |  | $ | 569,437 |
Transaction-based fees |  | 227,956 |  |  | 383,765 |  |  | — |  |  | 611,721 |
Maintenance |  | 319,208 |  |  | 17,028 |  |  | — |  |  | 336,236 |
Total recurring revenues |  | 1,052,347 |  |  | 465,047 |  |  | — |  |  | 1,517,394 |
Professional services |  | 167,224 |  |  | 20,166 |  |  | — |  |  | 187,390 |
Software licenses and royalties |  | 15,977 |  |  | (220) |  |  | — |  |  | 15,757 |
Hardware and other |  | 27,586 |  |  | 297 |  |  | 8,737 |  |  | 36,620 |
Total non-recurring revenues |  | 210,787 |  |  | 20,243 |  |  | 8,737 |  |  | 239,767 |
Total |  | $ | 1,263,134 |  |  | $ | 485,290 |  |  | $ | 8,737 |  |  | $ | 1,757,161 |
For the nine months ended September 30, 2024 |  | Enterprise Software |  | Platform Technologies |  | Corporate Unallocated |  | Totals
Revenues |  |  |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |  |  |
SaaS |  | $ | 408,632 |  |  | $ | 62,754 |  |  | $ | — |  |  | $ | 471,386 |
Transaction-based fees |  | 169,146 |  |  | 353,563 |  |  | — |  |  | 522,709 |
Maintenance |  | 329,724 |  |  | 18,390 |  |  | — |  |  | 348,114 |
Total recurring revenues |  | 907,502 |  |  | 434,707 |  |  | — |  |  | 1,342,209 |
Professional services |  | 167,571 |  |  | 33,625 |  |  | — |  |  | 201,196 |
Software licenses and royalties |  | 19,314 |  |  | 937 |  |  | — |  |  | 20,251 |
Hardware and other |  | 25,198 |  |  | 905 |  |  | 6,913 |  |  | 33,016 |
Total non-recurring revenues |  | 212,083 |  |  | 35,467 |  |  | 6,913 |  |  | 254,463 |
Total |  | $ | 1,119,585 |  |  | $ | 470,174 |  |  | $ | 6,913 |  |  | $ | 1,596,672 |
Deferred Revenue and Performance Obligations Total deferred revenue, including long-term, by segment is as follows:
|  | September 30, 2025 |  | December 31, 2024
Enterprise Software |  | $ | 738,964 |  |  | $ | 683,909 |
Platform Technologies |  | 42,128 |  |  | 36,117 |
Corporate |  | 2,175 |  |  | 3,788 |
Totals |  | $ | 783,267 |  |  | $ | 723,814 |
Changes in total deferred revenue, including long-term, were as follows:
|  | Nine Months Ended September 30, 2025
Balance as of December 31, 2024 |  | $ | 723,814 |
Deferral of revenue |  | 1,195,890 |
Recognition of deferred revenue |  | (1,136,437) |
Balance as of September 30, 2025 |  | $ | 783,267 |
Remaining Performance Obligations We expect to recognize as revenue approximately 97% of our deferred revenue balance as of September 30, 2025, in the next 12 months, and the remainder thereafter. We believe the portion of the transaction price allocated to the remaining performance obligations which is not included in our deferred revenue balance is not a meaningful indicator of future revenue due to contracts with transaction-based fees that vary with transaction activity, the variability in subscription term lengths, and termination provisions included in some contracts that limit inclusion and cause variability from period to period. Deferred Commissions Deferred commissions are as follows:
|  | September 30, 2025 |  | December 31, 2024
Prepaid commissions |  | $ | 19,952 |  |  | $ | 18,037 |
Long-term deferred commissions |  | 48,785 |  |  | 38,762 |
Total deferred commissions |  | $ | 68,737 |  |  | $ | 56,799 |
Amortization expense related to deferred commissions is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Amortization expense | $ | 5,510 |  |  | $ | 4,840 |  |  | $ | 15,553 |  |  | $ | 14,490 |
Deferred commissions have been included with prepaid expenses for the current portion and non-current other assets for the long-term portion in the accompanying condensed consolidated balance sheets. Amortization expense related to deferred commissions is included in sales and marketing expense in the accompanying condensed consolidated statements of income.

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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 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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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