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Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract | Note 8. Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract The following table presents the disaggregation of revenue by revenue type, consistent with how the Company evaluates its financial performance, for the three and nine months ended September 30, 2024 and 2023 (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues: |  |  |  |  |  |  |
Cloud subscription | $ | 175,809 |  |  | $ | 128,581 |  |  | $ | 488,669 |  |  | $ | 359,604 |
Self-managed subscription license | 65,498 |  |  | 81,705 |  |  | 171,422 |  |  | 189,132 |
Self-managed subscription support and other | 46,627 |  |  | 51,542 |  |  | 144,126 |  |  | 154,603 |
Subscription revenues | 287,934 |  |  | 261,828 |  |  | 804,217 |  |  | 703,339 |
Perpetual license | — |  |  | 205 |  |  | 21 |  |  | 1,024 |
Software revenue | 287,934 |  |  | 262,033 |  |  | 804,238 |  |  | 704,363 |
Maintenance | 115,309 |  |  | 124,267 |  |  | 349,469 |  |  | 374,493 |
Professional services | 19,238 |  |  | 22,263 |  |  | 58,006 |  |  | 71,126 |
Maintenance and professional services revenue | 134,547 |  |  | 146,530 |  |  | 407,475 |  |  | 445,619 |
Total revenues | $ | 422,481 |  |  | $ | 408,563 |  |  | $ | 1,211,713 |  |  | $ | 1,149,982 |
Revenue by geographic location for the three and nine months ended September 30, 2024 and 2023 (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
North America | $ | 284,011 |  |  | $ | 278,604 |  |  | $ | 814,131 |  |  | $ | 786,230 |
EMEA | 96,077 |  |  | 89,713 |  |  | 271,442 |  |  | 247,707 |
Asia Pacific | 33,831 |  |  | 30,516 |  |  | 97,793 |  |  | 89,937 |
Latin America | 8,562 |  |  | 9,730 |  |  | 28,347 |  |  | 26,108 |
Total revenues | $ | 422,481 |  |  | $ | 408,563 |  |  | $ | 1,211,713 |  |  | $ | 1,149,982 |
In the three months ended September 30, 2024 and 2023, the Company’s revenue from customers in the United States was $261.7 million and $263.2 million, respectively. In the nine months ended September 30, 2024 and 2023, the Company’s revenue from customers in the United States was $760.1 million and $735.5 million, respectively. No foreign country represented 10% or more of the Company’s total revenue during the three and nine months ended September 30, 2024 and 2023, respectively. Deferred Revenue As of September 30, 2024 and December 31, 2023, deferred revenue was $663.4 million and $786.7 million, respectively. The amount of revenues recognized during the three and nine months ended September 30, 2024 that were included in the opening deferred revenue balance as of January 1, 2024 was approximately $158.2 million and $678.7 million, respectively. The amount of revenues recognized during the three and nine months ended September 30, 2023 that were included in the opening deferred revenue balance as of January 1, 2023 were approximately $137.3 million and $597.1 million, respectively. Remaining Performance Obligations from Customer Contracts As of September 30, 2024, the Company’s remaining performance obligations were $1.54 billion. The Company expects to recognize approximately 66% of its remaining performance obligations at September 30, 2024 as revenues over the next twelve months and the remainder over the next two to three years. Concentrations of Credit Risk and Credit Evaluations No customer accounted for more than 10% of revenue during the three and nine months ended September 30, 2024 and 2023. At September 30, 2024 and December 31, 2023, no customer accounted for more than 10% of the accounts receivable balance. Capitalized Costs to Obtain a Contract Capitalized costs to obtain contracts consist primarily of sales commissions and related payroll taxes (together “deferred commissions”). The changes in the capitalized costs to obtain a contract for the nine months ended September 30, 2024 were as follows (in thousands):
| Amount
Ending balance as of December 31, 2023 | $ | 237,991 |
Additions, net | 51,016 |
Commissions amortized | (62,359) |
Revaluation | 247 |
Ending balance as of September 30, 2024 | $ | 226,895 |
As of September 30, 2024, $80.2 million of deferred commissions balance was included in prepaid expenses and other current assets and $146.7 million of deferred commissions balance was included in other assets in the condensed consolidated balance sheet.

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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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