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Revenue | 6 Months Ended
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Jun. 30, 2026
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue The following table presents the company’s revenue disaggregated by type of revenue:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Services | $ | 412.6 |  |  | $ | 412.2 |  |  | $ | 807.9 |  |  | $ | 798.4 |
Technology(i) | 60.9 |  |  | 71.1 |  |  | 103.2 |  |  | 117.0 |
Total revenue | $ | 473.5 |  |  | $ | 483.3 |  |  | $ | 911.1 |  |  | $ | 915.4 |
(i) Technology represents hardware and software license revenue. Contract Assets and Deferred Revenue Contract assets represent rights to consideration in exchange for goods or services transferred to a customer when that right is conditional on something other than the passage of time. Deferred revenue represents contract liabilities. Net contract assets (liabilities) are as follows:
| June 30, 2026 |  | December 31, 2025
Contract assets - current | $ | 11.2 |  |  | $ | 10.9 |
Contract assets - long-term(i) | 2.6 |  |  | 4.1 |
Deferred revenue - current | (200.7) |  |  | (228.5) |
Deferred revenue - long-term | (83.0) |  |  | (100.7) |
(i) Reported in other long-term assets on the company’s consolidated balance sheets.
Significant changes in the above contract liability balances were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Revenue recognized that was included in deferred revenue at the beginning of the period | $ | 58.4 |  |  | $ | 58.6 |  |  | $ | 125.3 |  |  | $ | 130.0 |
Capitalized Contract Costs The company’s capitalized contract costs, net include the following:
| June 30, 2026 |  | December 31, 2025
Deferred commissions, net | $ | 6.3 |  |  | $ | 8.7 |
Costs to fulfill a contract, net | 20.4 |  |  | 16.7 |
Other capitalized assets, net | 44.5 |  |  | 48.2 |
Total capitalized contract costs, net | $ | 71.2 |  |  | $ | 73.6 |
For the three months ended June 30, 2026 and 2025, amortization expense related to capitalized contract costs, net was $7.7 million and $4.5 million, respectively. For the six months ended June 30, 2026 and 2025, amortization expense related to capitalized contract costs assets, net was $13.5 million and $7.5 million, respectively. Remaining Performance Obligations Remaining performance obligations represent the transaction price of firm orders for which work has not been performed and excludes (i) contracts with an original expected length of one year or less and (ii) contracts for which the company recognizes revenue at the amount to which it has the right to invoice for services performed. At June 30, 2026, the company had approximately $0.8 billion of remaining performance obligations of which approximately 23% is estimated to be recognized as revenue by the end of 2026, 37% by the end of 2027, 22% by the end of 2028, 11% by the end of 2029 and 7% thereafter.

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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 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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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