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Disaggregation of Revenue, Deferred Revenue, Remaining Performance Obligations, Credit Risk and Capitalized Costs to Obtain a Contract
 9 Months Ended
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,
2024202320242023
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,
2024202320242023
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, net51,016 
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.