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Revenue
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenues
The following tables present the Company's revenues disaggregated by major products and services, geographical region and timing of revenue recognition.
Revenue by major products and services
Years Ended December 31,
(In thousands)202320222021
Subscription (1)$106,436 $89,153 $68,507 
Maintenance and support46,383 48,345 51,276 
Professional services and other (2)6,321 8,008 15,197 
Hardware products75,966 73,500 79,501 
Total Revenue$235,106 $219,006 $214,481 

(1) Subscription includes cloud and on-premises subscription revenue, previously referred to as “subscription” and “term-based software licenses”, respectively.

(2) Professional services and other includes perpetual software licenses revenue, which was approximately 1%, 2%, and 5% of total revenue for the years ended December 31, 2023, 2022, and 2021, respectively.
Revenue by location of customer for the years ended December 31, 2023, 2022, and 2021
Years Ended December 31,
(In thousands, except percentages)202320222021
Revenue
EMEA$111,568 $100,298 $104,878 
Americas80,057 77,740 68,646 
APAC43,481 40,968 40,957 
Total revenue$235,106 $219,006 $214,481 
% of Total Revenue
EMEA47 %46 %49 %
Americas34 %35 %32 %
APAC19 %19 %19 %
Timing of revenue recognition
Years Ended December 31,
(In thousands)202320222021
Products and Licenses transferred at a point in time$130,848 $121,426 $120,358 
Services transferred over time104,258 97,580 94,123 
Total Revenue$235,106 $219,006 $214,481 
Contract balances
The following table provides information about receivables, contract assets and contract liabilities from contracts with customers as of December 31, 2023 and 2022:
(In thousands)December 31,
20232022
Receivables, inclusive of trade and unbilled$64,387 $65,132 
Contract Assets (current and non-current)$5,322 $4,642 
Contract Liabilities (Deferred Revenue current and non-current)$73,483 $70,907 
Contract assets relate primarily to multi-year term license arrangements and the remaining contractual billings. These contract assets are transferred to receivables when the right to billing occurs over a 2- to 5-year period. The contract liabilities primarily relate to the advance consideration received from customers for subscription and maintenance services. Revenue is recognized for these services over time.
As a practical expedient, the Company does not adjust the promised amount of consideration for the effects of a significant financing component when it is expected, at contract inception, that the period between the Company's transfer of a promised product or service to a customer and when the customer pays for that product or service will be one year or less. Extended payment terms are not typically included in contracts with customers.
Revenue recognized during the year ended December 31, 2023 included $62.1 million that was included on the December 31, 2022 consolidated balance sheet in contract liabilities. Deferred revenue increased in the same period due to timing of annual renewals.
Transaction price allocated to the remaining performance obligations
Remaining performance obligations represent the revenue that is expected to be recognized in future periods related to performance obligations that are unsatisfied, or partially unsatisfied, as of the end of the period. The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 31, 2023:
(In thousands)202420252026Beyond 2026Total
Future revenue related to current unsatisfied performance obligations$49,644 $23,894 $14,138 $4,761 $92,437 
The Company applies practical expedients and does not disclose information about remaining performance obligations (a) that have original expected durations of one year or less, or (b) where revenue is recognized as invoiced.
Costs of obtaining a contract
The Company incurs incremental costs related to commissions, which can be directly tied to obtaining a contract. The Company capitalizes commissions associated with certain new contracts and amortizes the costs over a period of up to seven years, which is the determined benefit period based on the transfer of goods or services. The Company determined the period of benefit by taking into consideration the customer contracts, its technology and other factors, including customer attrition. Commissions are earned upon invoicing to the customer. For contracts with multiple year payment terms, because the commissions that are payable after year 1 are payable based on continued employment, they are expensed when incurred. Commissions and amortization expense are included in “Sales and marketing” expense in the consolidated statements of operations.
Applying the practical expedient, the Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period for the assets that the Company otherwise would have recognized is one year or less. These costs are included in the “Sales and marketing” caption in the consolidated statements of operations.
The following tables provide information related to the capitalized costs and amortization recognized in the current and prior period:
December 31,
(In thousands)20232022
Capitalized costs to obtain contracts, current$3,503 $2,929 
Capitalized costs to obtain contracts, non-current$10,766 $10,571 
(In thousands)Years Ended December 31,
20232022
Amortization of capitalized costs to obtain contracts$3,122 $2,404 
Impairments of capitalized costs to obtain contracts$— $—