v3.24.1.u1
Revenue from Contracts with Customers
3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
(2)
Revenue from Contracts with Customers

Deferred Revenue and Remaining Performance Obligations

The amount of revenue recognized in the three months ended March 31, 2024 that was included in deferred revenue as of December 31, 2023 was $55.1 million.

As of March 31, 2024 and December 31, 2023, unrecognized transaction price related to remaining performance obligations was $250.6 million and $239.4 million, respectively. The Company’s remaining performance obligations as of March 31, 2024 and December 31, 2023 are expected to be recognized as follows (in thousands):

 

 

 

As of
March 31,
2024

 

 

As of
December 31,
2023

 

 

 

 

 

 

 

 

Less than or equal to 12 months

 

$

197,087

 

 

$

188,456

 

Greater than 12 months

 

 

53,531

 

 

 

50,962

 

Total remaining performance obligations

 

$

250,618

 

 

$

239,418

 

 

Disaggregation of Revenue

The following table shows the Company’s disaggregation of revenue by geographic areas, as determined based on the address of the Company's customers (in thousands):

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

United States

 

$

43,243

 

 

$

40,435

 

International

 

 

29,381

 

 

 

26,042

 

Total revenue

 

$

72,624

 

 

$

66,477

 

 

Deferred Commissions

Commissions paid upon the initial acquisition of a contract are deferred and then amortized on a straight-line basis over a period of benefit, determined to be five years. The following table represents a roll forward of the Company’s deferred commissions for the three months ended March 31, 2024 and 2023 (in thousands):

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

Beginning balance

 

$

38,386

 

 

$

36,717

 

Additions to deferred commissions

 

 

3,227

 

 

 

2,466

 

Amortization of deferred commissions

 

 

(3,352

)

 

 

(2,779

)

Ending balance

 

 

38,261

 

 

 

36,404

 

Deferred commissions, current portion

 

 

13,190

 

 

 

11,275

 

Deferred commissions, net of current portion

 

 

25,071

 

 

 

25,129

 

Total deferred commissions

 

$

38,261

 

 

$

36,404