| 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 June 30, 2024 |
|
Accounts receivable |
|
$ |
124,386 |
|
Short-term unbilled receivables |
|
|
41,477 |
|
Long-term unbilled receivables |
|
|
9,774 |
|
Short-term contract assets |
|
|
2,858 |
|
Long-term contract assets |
|
|
8,040 |
|
Short-term deferred revenue |
|
|
63,784 |
|
Long-term deferred revenue |
|
|
6,732 |
|
|
| 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 six months ended June 30, 2024 and 2023 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2024 |
|
|
|
Assets |
|
|
Liabilities |
|
Balance at December 31, 2023 |
|
$ |
42,134 |
|
|
$ |
(59,719 |
) |
Revenue recognized that was previously included in deferred revenue, net |
|
|
— |
|
|
|
71,402 |
|
Increases due to cash received |
|
|
— |
|
|
|
(82,928 |
) |
Cumulative catch-up adjustment arising from changes in estimates of
transaction price, net |
|
|
— |
|
|
|
729 |
|
Unbilled receivables recorded, net |
|
|
53,816 |
|
|
|
— |
|
Contract assets recorded, net |
|
|
(1,078 |
) |
|
|
— |
|
Transferred to receivables from unbilled receivables |
|
|
(32,723 |
) |
|
|
— |
|
Net change |
|
|
20,015 |
|
|
|
(10,797 |
) |
Balance at June 30, 2024 |
|
$ |
62,149 |
|
|
$ |
(70,516 |
) |
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2023 |
|
|
|
Assets |
|
|
Liabilities |
|
Balance at December 31, 2022 |
|
$ |
38,457 |
|
|
$ |
(63,878 |
) |
Revenue recognized that was previously included in deferred revenue, net |
|
|
— |
|
|
|
100,242 |
|
Increases due to cash received |
|
|
— |
|
|
|
(91,111 |
) |
Cumulative catch-up adjustment arising from changes in estimates of
transaction price, net |
|
|
— |
|
|
|
6,605 |
|
Unbilled receivables recorded, net |
|
|
9,404 |
|
|
|
— |
|
Contract assets recorded, net |
|
|
(1,069 |
) |
|
|
— |
|
Transferred to receivables from unbilled receivables |
|
|
(19,983 |
) |
|
|
— |
|
Net change |
|
|
(11,648 |
) |
|
|
15,736 |
|
Balance at June 30, 2023 |
|
$ |
26,809 |
|
|
$ |
(48,142 |
) |
|