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Revenue | 3 Months Ended
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Mar. 31, 2026
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Disaggregated Revenue The following tables disaggregate our revenue by source and timing of recognition:
| Three Months Ended March 31, 2026
| SendTech Solutions | Presort Services |  | Revenue from services and products | Revenue from leasing transactions and financing | Total consolidated revenue
Major service/product lines |  |  |  |  |  |
Services | $ | 143,104 |  | $ | 163,466 |  |  | $ | 306,570 |  | $ | — |  | $ | 306,570 |
Products | 52,571 |  | — |  |  | 52,571 |  | 36,079 |  | 88,650 |
Financing and other | — |  | — |  |  | — |  | 82,193 |  | 82,193 |
Subtotal | 195,675 |  | 163,466 |  |  | 359,141 |  | $ | 118,272 |  | $ | 477,413 |
Revenue from leasing transactions and financing | 118,272 |  | — |  |  | 118,272 |  |  |
Total revenue | $ | 313,947 |  | $ | 163,466 |  |  | $ | 477,413 |  |  |
Timing of revenue recognition from services and products |  |  |  |
Services/products transferred at a point in time | $ | 65,547 |  | $ | — |  |  | $ | 65,547 |  |  |
Services/products transferred over time | 130,128 |  | 163,466 |  |  | 293,594 |  |  |
Total | $ | 195,675 |  | $ | 163,466 |  |  | $ | 359,141 |  |  |
| Three Months Ended March 31, 2025
| SendTech Solutions | Presort Services |  | Revenue from services and products | Revenue from leasing transactions and financing | Total consolidated revenue
Major service/product lines |  |  |  |  |  |
Services | $ | 140,618 |  | $ | 177,814 |  |  | $ | 318,432 |  | $ | — |  | $ | 318,432 |
Products | 53,252 |  | — |  |  | 53,252 |  | 39,938 |  | 93,190 |
Financing and other | — |  | — |  |  | — |  | 81,798 |  | 81,798 |
Subtotal | 193,870 |  | 177,814 |  |  | 371,684 |  | $ | 121,736 |  | $ | 493,420 |
Revenue from leasing transactions and financing | 121,736 |  | — |  |  | 121,736 |  |  |
Total revenue | $ | 315,606 |  | $ | 177,814 |  |  | $ | 493,420 |  |  |
Timing of revenue recognition from services and products |  |  |  |
Services/products transferred at a point in time | $ | 66,403 |  | $ | — |  |  | $ | 66,403 |  |  |
Services/products transferred over time | 127,467 |  | 177,814 |  |  | 305,281 |  |  |
Total | $ | 193,870 |  | $ | 177,814 |  |  | $ | 371,684 |  |  |
Our performance obligations for revenue from services and products are as follows: Services revenue includes revenues from digital shipping and mailing technology solutions and the maintenance, professional and subscription services related to those solutions, mail processing services and cross-border solutions. Revenues for mail processing services and cross-border solutions are recognized over time using an output method based on the number of parcels or mail pieces either processed or delivered, depending on the service type, since that measure best depicts the value of goods and services transferred to the client over the contract period. Contract terms for these services initially range from one to five years and contain annual renewal options. Revenue for shipping subscription services is recognized ratably over the contract period as the client obtains equal benefit from these services throughout the period. Revenue for maintenance and subscription services is recognized ratably over the contract period, which ranges from one to five years, and revenue for professional services is recognized when services are provided. Products revenue generally includes the sale of mailing and shipping equipment and related supplies. We recognize revenue upon delivery for self-install equipment and supplies and upon acceptance or installation for other equipment. Financing and other revenue includes revenue from sales-type and operating leases, finance income, fees and investment income, gains and losses at the Pitney Bowes Bank. Advance Billings from Contracts with Customers
| Balance sheet location |  | March 31, 2026 |  | December 31, 2025 |  | Increase/ (decrease)
Advance billings, current | Advance billings |  | $ | 64,321 |  |  | $ | 63,528 |  |  | $ | 793 |
Advance billings, noncurrent | Other noncurrent liabilities |  | $ | 98 |  |  | $ | 102 |  |  | $ | (4) |
Advance billings are recorded when cash payments are due in advance of our performance. Revenue is recognized ratably over the contract term. Items in advance billings primarily relate to maintenance services on mailing equipment. Revenue recognized during the period includes $29 million of advance billings at the beginning of the period. Current advance billings at March 31, 2026 and December 31, 2025 does not include $8 million and $6 million, respectively, from leasing transactions. Future Performance Obligations Future performance obligations primarily include maintenance and subscription services bundled with our leasing contracts. The transaction prices allocated to future performance obligations will be recognized as follows:
|  | Remainder of 2026 |  | 2027 |  | 2028-2031 |  | Total
SendTech Solutions |  | $ | 207,587 |  |  | $ | 197,642 |  |  | $ | 243,456 |  |  | $ | 648,685 |
These amounts do not include revenue for performance obligations under contracts with terms less than 12 months or revenue for performance obligations where revenue is recognized based on the amount billable to the customer.

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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 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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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