XML 39 R26.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Revenue from Contracts with Customers (Tables)
 3 Months Ended
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)20242023
Subscription$39,994 $29,956 
Maintenance and support10,571 11,161 
Professional services and other (1)1,702 1,624 
Hardware products12,576 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)20242023
Revenue
EMEA$31,842 $27,820 
Americas21,344 20,498 
APAC11,657 9,289 
Total revenue$64,843 $57,607 
% of Total Revenue
EMEA49 %48 %
Americas33 %36 %
APAC18 %16 %
Timing of revenue recognition
Three Months Ended March 31,
(In thousands)20242023
Products and licenses transferred at a point in time$37,798 $33,146 
Services transferred over time27,045 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)20242023
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)202420252026Beyond 2026Total
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, 2024December 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)20242023
Amortization of capitalized costs to obtain contracts$884 $731