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Revenue from Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenues disaggregated by geography, major product line and timing of revenue recognition | 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
| Three Months Ended March 31, |  |
(In thousands) | 2024 |  | 2023 |  |  |  |
Subscription | $ | 39,994 |  |  | $ | 29,956 |  |  |  |  |
Maintenance and support | 10,571 |  |  | 11,161 |  |  |  |  |
Professional services and other (1) | 1,702 |  |  | 1,624 |  |  |  |  |
Hardware products | 12,576 |  |  | 14,866 |  |  |  |  |
Total Revenue | $ | 64,843 |  |  | $ | 57,607 |  |  |  |  |
(1) Professional services and other includes perpetual software licenses revenue, which was approximately 1% of total revenue for both the three months ended March 31, 2024 and 2023. Revenue by location of customer We classify our sales by customer location in three geographic regions: 1) EMEA, which includes Europe, Middle East and Africa; 2) the Americas, which includes North, Central, and South America; and 3) Asia Pacific (APAC), which includes Australia, New Zealand, and India. The breakdown of revenue in each of our major geographic areas was as follows:
| Three Months Ended March 31, |  |
(In thousands, except percentages) | 2024 |  | 2023 |  |  |  |
Revenue |  |  |  |  |  |  |
EMEA | $ | 31,842 |  |  | $ | 27,820 |  |  |  |  |
Americas | 21,344 |  |  | 20,498 |  |  |  |  |
APAC | 11,657 |  |  | 9,289 |  |  |  |  |
Total revenue | $ | 64,843 |  |  | $ | 57,607 |  |  |  |  |
% of Total Revenue |  |  |  |  |  |  |
EMEA | 49 | % |  | 48 | % |  |  |  |
Americas | 33 | % |  | 36 | % |  |  |  |
APAC | 18 | % |  | 16 | % |  |  |  |
Timing of revenue recognition
| Three Months Ended March 31, |  |
(In thousands) | 2024 |  | 2023 |  |  |  |
Products and licenses transferred at a point in time | $ | 37,798 |  |  | $ | 33,146 |  |  |  |  |
Services transferred over time | 27,045 |  |  | 24,461 |  |  |  |  |
Total Revenue | $ | 64,843 |  |  | $ | 57,607 |  |  |  |  |
Schedule of changes in contract assets and contract liabilities | The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of March 31, 2024 and December 31, 2023:
| March 31, |  | December 31,
(In thousands) | 2024 |  | 2023
Receivables, inclusive of trade and unbilled | $ | 32,382 |  |  | $ | 64,387 |
Contract Assets (current and non-current) | $ | 5,607 |  |  | $ | 5,322 |
Contract Liabilities (Deferred Revenue current and non-current) | $ | 59,489 |  |  | $ | 73,483 |
Schedule of estimated revenue expected to be recognized in the future | 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 March 31, 2024:
(In thousands) | 2024 |  | 2025 |  | 2026 |  | Beyond 2026 |  | Total
Future revenue related to current unsatisfied performance obligations | $ | 38,656 |  |  | $ | 28,253 |  |  | $ | 15,586 |  |  | $ | 5,162 |  |  | $ | 87,657 |
Schedule of information related to the capitalized costs and amortization recognized in the current and prior period | The following tables provide information related to the capitalized costs and amortization recognized in the current and prior period:
(In thousands) | March 31, 2024 |  | December 31, 2023
Capitalized costs to obtain contracts, current | $ | 3,644 |  |  | $ | 3,503 |
Capitalized costs to obtain contracts, non-current | $ | 10,740 |  |  | $ | 10,766 |
| Three Months Ended March 31, |
(In thousands) | 2024 |  | 2023 |  |  |
Amortization of capitalized costs to obtain contracts | $ | 884 |  |  | $ | 731 |  |  |  |

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- Definition Tabular disclosure of cost capitalized in obtaining or fulfilling contract with customer. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 340 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479483/340-40-50-3 + 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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