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Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations | 3. Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations ## Disaggregation of Revenue Revenue from subscription-based contracts was $19,510, or 82% of total revenue, for the three months ended March 31, 2025, and was $18,166, or 52% of total revenue, for the three months ended March 31, 2024. Revenue from non-subscription-based contracts was $4,366, or 18% of total revenue, for the three months ended March 31, 2025, and was $16,659, or 48% of total revenue, for the three months ended March 31, 2024. The following revenue disaggregated by geography, derived from billing addresses, was recognized:
|  | Three Months Ended March 31, 2025 |  |  | Three Months Ended March 31, 2024 |
Americas (1) |  | $ | 13,580 |  |  |  | 57 | % |  | $ | 22,680 |  |  |  | 65 | %
EMEA(2) |  |  | 8,217 |  |  |  | 34 | % |  |  | 9,959 |  |  |  | 29 | %
Asia Pacific |  |  | 2,079 |  |  |  | 9 | % |  |  | 2,186 |  |  |  | 6 | %
Total |  | $ | 23,876 |  |  |  | 100 | % |  | $ | 34,825 |  |  |  | 100 | %
(1) U.S. represented 50% and 34% of total revenue for the three months ended March 31, 2025, and 2024, respectively. Canada represented 30% of total revenue for the three months ended March 31, 2024. (2) United Kingdom represented 14% of total revenue for the three months ended March 31, 2025. ## Contract Assets As of March 31, 2025, contract assets were $2,221, which was reported in contract assets on the Company’s condensed consolidated balance sheets. As of December 31, 2024, contract assets of $785 were reported in contract assets on the Company’s condensed consolidated balance sheets. Changes in contract assets for the three months ended March 31, 2025 and 2024 were as follows:
|  | 2025 |  |  | 2024 |
Balance as of January 1 |  | $ | 785 |  |  | $ | 4,917 |
Contract assets recorded during the period |  |  | 2,126 |  |  |  | 4,696 |
Reclassified to accounts receivable |  |  | (710 | ) |  |  | (4,399 | )
Other |  |  | 20 |  |  |  | (29 | )
Balance as of March 31 |  | $ | 2,221 |  |  | $ | 5,185 |
## Contract Liabilities As of March 31, 2025, contract liabilities were $47,686, of which $25,523 was reported in contract liabilities, current portion, and $22,163 was reported in other long-term liabilities on the Company’s condensed consolidated balance sheets. As of December 31, 2024, contract liabilities were $45,526, of which $22,037 was reported in contract liabilities, current portion, and $23,489 was reported in other long-term liabilities on the Company’s condensed consolidated balance sheets. Changes in contract liabilities for the three months ended March 31, 2025 and 2024 were as follows:
|  | 2025 |  |  | 2024 |
Balance as of January 1 |  | $ | 45,526 |  |  | $ | 49,101 |
Contract liabilities recorded during the period |  |  | 11,635 |  |  |  | 13,004 |
Revenue recognized during the period |  |  | (9,908 | ) |  |  | (20,317 | )
Other |  |  | 433 |  |  |  | (299 | )
Balance as of March 31 |  | $ | 47,686 |  |  | $ | 41,489 |
## Remaining Performance Obligations The Company has performance obligations associated with commitments in customer contracts for future services that have not yet been recognized as revenue. These commitments for future services exclude (i) contracts with an original term of one year or less, and (ii) cancellable contracts. As of March 31, 2025, the amount not yet recognized as revenue from these commitments was $252,511. The Company expects to recognize its remaining performance obligations as of March 31, 2025, over the following periods:
|  | March 31, 2025 |
1 to 12 months |  | $ | 83,506 |  |  |  | 33 | %
13 to 24 months |  |  | 65,320 |  |  |  | 26 | %
25 to 36 months |  |  | 41,726 |  |  |  | 17 | %
37 to 48 months |  |  | 23,981 |  |  |  | 9 | %
Remaining |  |  | 37,978 |  |  |  | 15 | %
Total |  | $ | 252,511 |  |  |  | 100 | %

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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