| Schedule of Assets and Liabilities Associated with Contracts from Customers |
The following table provides information about assets and liabilities associated with our contracts from customers (in thousands):
|
|
|
|
|
|
|
As of March 31, 2024 |
|
Accounts receivable |
|
$ |
119,584 |
|
Short-term unbilled receivables |
|
|
22,440 |
|
Long-term unbilled receivables |
|
|
10,278 |
|
Short-term contract assets |
|
|
2,747 |
|
Long-term contract assets |
|
|
8,688 |
|
Short-term deferred revenue |
|
|
19,157 |
|
Long-term deferred revenue |
|
|
13,292 |
|
|
| Summary of Significant Changes in Unbilled Receivables and Deferred Liabilities Balances |
Significant changes in the assets and liabilities balances associated with the Company's contracts from customers for the three months ended March 31, 2024 and 2023 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2024 |
|
|
|
Assets |
|
|
Liabilities |
|
Balance at December 31, 2023 |
|
$ |
42,134 |
|
|
$ |
(59,719 |
) |
Revenue recognized that was previously included in deferred revenue, net |
|
|
— |
|
|
|
61,095 |
|
Increases due to cash received |
|
|
— |
|
|
|
(33,323 |
) |
Cumulative catch-up adjustment arising from changes in estimates of
transaction price, net |
|
|
— |
|
|
|
(502 |
) |
Unbilled receivables recorded, net |
|
|
2,560 |
|
|
|
— |
|
Contract assets recorded, net |
|
|
(541 |
) |
|
|
— |
|
Net change |
|
|
2,019 |
|
|
|
27,270 |
|
Balance at March 31, 2024 |
|
$ |
44,153 |
|
|
$ |
(32,449 |
) |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2023 |
|
|
|
Assets |
|
|
Liabilities |
|
Balance at December 31, 2022 |
|
$ |
38,457 |
|
|
$ |
(63,878 |
) |
Revenue recognized that was previously included in deferred revenue, net |
|
|
— |
|
|
|
41,086 |
|
Increases due to cash received |
|
|
— |
|
|
|
(38,153 |
) |
Cumulative catch-up adjustment arising from changes in estimates of
transaction price, net |
|
|
— |
|
|
|
5,683 |
|
Unbilled receivables recorded, net |
|
|
11,878 |
|
|
|
— |
|
Contract assets recorded, net |
|
|
(520 |
) |
|
|
— |
|
Transferred to receivables from unbilled receivables |
|
|
(19,983 |
) |
|
|
— |
|
Net change |
|
|
(8,625 |
) |
|
|
8,616 |
|
Balance at March 31, 2023 |
|
$ |
29,832 |
|
|
$ |
(55,262 |
) |
|