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REVENUE RECOGNITION (Tables) | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Summary of Revenue Disaggregation | Disaggregated revenue by primary geographical market and timing of revenue recognition for the Company’s single product line are as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
| (In thousands)
Primary geographical markets: |  |  |  |  |  |  |  |  |
United States | $ | 284,033 |  |  | $ | 350,447 |  |  | $ | 632,719 |  |  | $ | 1,240,990 |  |  |
International | 96,840 |  |  | 200,635 |  |  | 314,951 |  |  | 747,226 |  |  |
Total | $ | 380,873 |  |  | $ | 551,082 |  |  | $ | 947,670 |  |  | $ | 1,988,216 |  |  |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |
Products delivered at a point in time | $ | 348,669 |  |  | $ | 522,419 |  |  | $ | 854,406 |  |  | $ | 1,908,193 |  |  |
Products and services delivered over time | 32,204 |  |  | 28,663 |  |  | 93,264 |  |  | 80,023 |  |  |
Total | $ | 380,873 |  |  | $ | 551,082 |  |  | $ | 947,670 |  |  | $ | 1,988,216 |  |  |
Summary of Contract Assets and Contract Liabilities, and Changes in Balances from Contracts with Customers | Accounts receivables, and contract assets and contract liabilities from contracts with customers, are as follows:
| September 30, 2024 |  | December 31, 2023
| (In thousands)
Accounts receivables | $ | 232,225 |  |  | $ | 445,959 |
Short-term contract assets (Prepaid expenses and other assets) | 42,582 |  |  | 40,241 |
Long-term contract assets (Other assets) | 117,457 |  |  | 124,190 |
Short-term contract liabilities (Deferred revenues, current) | 129,556 |  |  | 118,300 |
Long-term contract liabilities (Deferred revenues, non-current) | 354,210 |  |  | 369,172 |
Significant changes in the balances of contract assets (prepaid expenses and other assets) as of September 30, 2024 are as follows (in thousands):
Contract Assets |
Contract Assets, beginning of period | $ | 164,431 |
Amount recognized | (32,336) |
Increased due to billings | 27,944 |
Contract Assets, end of period | $ | 160,039 |
Significant changes in the balances of contract liabilities (deferred revenues) as of September 30, 2024 are as follows (in thousands):
Contract Liabilities |
Contract Liabilities, beginning of period | $ | 487,472 |
Revenue recognized | (93,265) |
Increased due to billings | 89,559 |
Contract Liabilities, end of period | $ | 483,766 |
Summary of Estimated Revenue Expected to be Recognized in Future Periods | Estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period are as follows:
| September 30, 2024
| (In thousands)
Fiscal year: |
2024 (remaining three months) | $ | 35,112 |
2025 | 124,071 |
2026 | 106,829 |
2027 | 87,140 |
2028 | 65,775 |
Thereafter | 64,839 |
Total | $ | 483,766 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(1) -SubTopic 10 -Topic 606 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 + Details
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