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REVENUE RECOGNITION (Tables)

12 Months Ended

Dec. 31, 2025

REVENUE RECOGNITION

Schedule of timing of performance obligation


		When Performance Obligation is Typically
Performance Obligation		Satisfied		When Payment is Typically Due
Software and Product Revenue
Software licenses (perpetual or term)		For perpetual licenses, typically when made available for download (point in time); for term-based licenses, at the beginning of the specified term (point in time)		Generally, within 30-60 days of invoicing, except for term licenses which may be paid for over time
Software licenses (subscription)		Upon activation of hosted site (over time)		Generally, within 30-60 days of invoicing
Hardware		When control of the hardware passes to the customer; typically, upon delivery (point in time)		Generally, within 30-60 days of invoicing
Software upgrades		Upon transfer of control; typically, when made available for download (point in time)		Generally, within 30-60 days of invoicing
Customer Support Revenue
Customer support		Ratably over the course of the support contract (over time)		Generally, within 30-60 days of invoicing
Professional Services
Other professional services (excluding training services)		As work is performed (over time), typically on the input method based on hours incurred		Generally, within 30-60 days of invoicing (upon completion of services)
Training		As the training is delivered (over time), typically one to five days		Generally, within 30-60 days of services being performed

Schedule of disaggregation of revenue


								Service
					Service			revenue
		Product			revenue			(professional
Year ended December 31, 2025		revenue			(maintenance)			services)			Total revenue
United States		$	179,660		$	136,452		$	86,845		$	402,957
Europe, Middle East and Africa			111,235			69,594			33,322			214,151
Asia Pacific			129,298			38,474			13,213			180,985
Other			14,394			26,031			6,038			46,463
		$	434,587		$	270,551		$	139,418		$	844,556


								Service
					Service			revenue
		Product			revenue			(professional
Year ended December 31, 2024		revenue			(maintenance)			services)			Total revenue
United States		$	201,340		$	133,182		$	61,462		$	395,984
Europe, Middle East and Africa			129,824			71,856			32,999			234,679
Asia Pacific			100,766			39,863			10,941			151,570
Other			15,299			29,681			6,668			51,648
		$	447,229		$	274,582		$	112,070		$	833,881


								Service
					Service			revenue
		Product			revenue			(professional
Year ended December 31, 2023		revenue			(maintenance)			services)			Total revenue
United States		$	161,945		$	133,737		$	48,733		$	344,415
Europe, Middle East and Africa			151,938			75,478			34,485			261,901
Asia Pacific			115,923			39,891			11,269			167,083
Other			15,344			30,546			7,050			52,940
		$	445,150		$	279,652		$	101,537		$	826,339

The Company’s product revenue from its direct sales program and from indirect sales through its channel partner program for the years ended December 31, 2025, 2024 and 2023 was as follows (in thousands):


		Year ended December 31,
		2025			2024			2023
Indirect sales through channel partner program		$	134,154		$	170,426		$	157,495
Direct sales			300,433			276,803			287,655
		$	434,587		$	447,229		$	445,150

The Company’s product revenue from sales to enterprise customers and from sales to service provider customers for the years ended December 31, 2025, 2024 and 2023 was as follows (in thousands):


		Year ended December 31,
		2025			2024			2023
Sales to enterprise customers		$	148,758		$	176,064		$	143,853
Sales to service provider customers			285,829			271,165			301,297
		$	434,587		$	447,229		$	445,150

The Company’s product revenue and service revenue components by segment for the years ended December 31, 2025, 2024 and 2023 was as follows (in thousands):


		Year ended December 31,
		2025		2024		2023
Product revenue:
Cloud and Edge		198,163		211,001		184,730
IP Optical Networks		236,424		236,228		260,420
Total product revenue		434,587		447,229		445,150

Service revenue:
Maintenance:
Cloud and Edge		206,604		212,988		219,939
IP Optical Networks		63,947		61,594		59,713
Total maintenance revenue		270,551		274,582		279,652
Professional services:
Cloud and Edge		106,663		81,168		72,979
IP Optical Networks		32,755		30,902		28,558
Total professional services revenue		139,418		112,070		101,537
Total service revenue		409,969		386,652		381,189

Schedule of customer assets and liabilities

The changes in the Company’s accounts receivable, unbilled receivables and deferred revenue balances for the years ended December 31, 2025 and 2024 were as follows (in thousands):


					Unbilled			Deferred			Deferred
		Accounts			accounts			revenue			revenue
		receivable			receivable			(current)			(long-term)
Balance at January 1, 2025		$	176,575		$	78,143		$	119,295		$	20,991
Increase (decrease), net			(15,568)			(7,265)			5,130			10,663
Balance at December 31, 2025		$	161,007		$	70,878		$	124,425		$	31,654


					Unbilled			Deferred			Deferred
		Accounts			accounts			revenue			revenue
		receivable			receivable			(current)			(long-term)
Balance at January 1, 2024		$	186,938		$	81,483		$	113,381		$	19,218
Increase (decrease), net			(10,363)			(3,340)			5,914			1,773
Balance at December 31, 2024		$	176,575		$	78,143		$	119,295		$	20,991