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Revenues
3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Revenue Recognition

Revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The majority of our revenues are recognized over time as services are performed, with certain revenues being recognized at a point in time.

The following tables present our total net revenues for the periods shown disaggregated for our Subscription Services and Skills and Other product lines (in thousands, except percentages):
 Three Months Ended
March 31,
Change
 20252024$%
Subscription Services$107,566 $154,051 $(46,485)(30)%
Skills and Other13,821 20,299 (6,478)(32)
Total net revenues$121,387 $174,350 $(52,963)(30)

During the three months ended March 31, 2025 and 2024, we recognized revenues of $27.2 million and $37.5 million, respectively, that were included in our deferred revenue balance at the beginning of each respective reporting period.

Contract Balances

The following table presents our accounts receivable, net, contract assets and deferred revenue balances (in thousands, except percentages):
 Change
 March 31,
2025
December 31, 2024$%
Accounts receivable, net$28,549 $23,641 $4,908 21 %
Contract assets6,771 7,027 (256)(4)
Deferred revenue45,150 39,217 5,933 15 

During the three months ended March 31, 2025 our accounts receivable, net balance increased by $4.9 million, or 21%, primarily due to amounts receivable from content licensing partially offset by the seasonality of our business. During the three months ended March 31, 2025, our contract assets balance remained relatively flat. During the three months ended March 31, 2025, our deferred revenue balance increased by $5.9 million, or 15%, primarily due to content licensing.