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Revenue Recognition
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

3. Revenue Recognition

Disaggregation of Revenue

The following table presents revenue by category:

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

 

 

Amount

 

 

Percentage of Revenue

 

 

Amount

 

 

Percentage of Revenue

 

 

 

(in thousands, except percentages)

 

Self-managed subscription

 

$

75,081

 

 

 

49

%

 

$

69,797

 

 

 

57

%

Subscription

 

 

67,386

 

 

 

44

 

 

 

63,815

 

 

 

52

 

License

 

 

7,695

 

 

 

5

 

 

 

5,982

 

 

 

5

 

SaaS

 

 

78,896

 

 

 

51

 

 

 

52,610

 

 

 

43

 

Total subscription revenue

 

$

153,977

 

 

 

100

%

 

$

122,407

 

 

 

100

%

 

The following table summarizes revenue by region based on the shipping address of customers:

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

 

 

Amount

 

 

Percentage of Revenue

 

 

Amount

 

 

Percentage of Revenue

 

 

 

(in thousands, except percentages)

 

United States

 

$

90,937

 

 

 

59

%

 

$

72,925

 

 

 

60

%

Israel

 

 

4,670

 

 

 

3

 

 

 

3,741

 

 

 

3

 

Rest of world

 

 

58,370

 

 

 

38

 

 

 

45,741

 

 

 

37

 

Total subscription revenue

 

$

153,977

 

 

 

100

%

 

$

122,407

 

 

 

100

%

Contract Balances

Of the $342.0 million and $274.2 million of deferred revenue recorded as of December 31, 2025 and 2024, respectively, the Company recognized $125.8 million and $101.2 million as revenue during the three months ended March 31, 2026 and 2025, respectively.

Remaining Performance Obligation

The Company’s remaining performance obligations represent contracted revenue that has not yet been recognized. It includes deferred revenue and non-cancelable amounts that will be invoiced and recognized in future periods, and excludes usage-based fees from SaaS subscriptions in excess of minimum usage commitments from the remaining performance obligations. As of March 31, 2026, the aggregate amount of the transaction price allocated to remaining performance obligations was $574.9 million, which consists of billed considerations of $341.5 million and unbilled considerations of $233.4 million, that the Company expects to recognize as revenue. As of March 31, 2026, the Company expects to recognize 67% of its remaining performance obligations as revenue over the next 12 months, and the remainder thereafter.

Cost to Obtain a Contract

Amortization of deferred contract acquisition costs was $5.9 million and $4.4 million for the three months ended March 31, 2026 and 2025, respectively.