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Revenue Recognition
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

4. Revenue Recognition

Contract Balances

The contract assets are primarily related to the Company’s fixed fee IP licensing arrangements and rights to consideration for performance obligations delivered but not billed as of December 31, 2025.

The Company’s contract balances were as follows:

 

 

As of December 31,

 

(In thousands)

 

2025

 

 

2024

 

Unbilled receivables

 

$

28,438

 

 

$

29,104

 

Deferred revenue

 

 

31,601

 

 

 

21,852

 

 

During the years ended December 31, 2025 and December 31, 2024, the Company recognized $19.7 million and $17.5 million, respectively, of revenue that was included in deferred revenue as of December 31, 2024 and December 31, 2023, respectively.

Remaining Performance Obligations

Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $34.7 million as of December 31, 2025, which the Company primarily expects to recognize over the next two years.