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Revenue and Deferred Revenue (Tables) | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Changes in the Deferred Revenue Balance | The following table summarizes the changes in the deferred revenue balance for the three months ended March 31, 2025 and 2024:
| Three Months Ended March 31,
| 2025 |  | 2024
(in thousands) |  |  |
Deferred revenue, beginning of period | $ | 48,253 |  |  | $ | 43,235 |
Recognition of revenue included in beginning of period deferred revenue | (24,890) |  |  | (23,479) |
Revenue deferred, net of revenue recognized on contracts in the respective period | 30,410 |  |  | 26,877 |
Deferred revenue, end of period | $ | 53,773 |  |  | $ | 46,633 |
Schedule of Recognition of Deferred Revenue | The Company expects the following recognition of deferred revenue as of March 31, 2025:
| Year Ended December 31,
| 2025 (remainder of year) |  | 2026 |  | 2027 |  | 2028 |  | Total
(in thousands) |  |  |  |  |  |  |  |  |
Revenue expected to be recognized | $ | 47,896 |  |  | $ | 4,819 |  |  | $ | 1,021 |  |  | $ | 37 |  |  | $ | 53,773 |
Schedule of Total Revenue by Geography | The following table presents the total revenue by geography based on the ship-to address for the periods indicated:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
(in thousands) |  |  |  |  |  |  |
North America* | $ | 127,569 |  |  | $ | 134,835 |  |  |  |  |
International | 35,065 |  |  | 32,557 |  |  |  |  |
Total revenue | $ | 162,634 |  |  | $ | 167,392 |  |  |  |  |
*North America revenue consists of revenues from the United States and Canada. |  |  |  |
Schedule of Total Revenue by Source | The following table presents the total revenue by source for the periods indicated:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
(in thousands) |  |  |  |  |  |  |
Platform | $ | 79,986 |  |  | $ | 78,286 |  |  |  |  |
Connected machines | 38,461 |  |  | 36,948 |  |  |  |  |
Accessories and materials | 44,187 |  |  | 52,158 |  |  |  |  |
Total revenue | $ | 162,634 |  |  | $ | 167,392 |  |  |  |  |

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