| REVENUE |
15. REVENUE Geographic revenue Revenues by geography are determined based on client location: | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | 2024 | | 2023 | | 2022 | | U.S. | $ | 828,332 | | 55 | % | | $ | 785,029 | | 55 | % | | $ | 763,558 | | 57 | % | | Other Americas | 95,698 | | 6 | % | | 85,149 | | 6 | % | | 102,980 | | 8 | % | | United Kingdom (“U.K.”) | 157,830 | | 11 | % | | 158,014 | | 11 | % | | 115,793 | | 9 | % | | Europe (excluding U.K.), Middle East, and Africa | 249,325 | | 17 | % | | 242,303 | | 17 | % | | 194,563 | | 15 | % | | Asia-Pacific | 165,995 | | 11 | % | | 162,121 | | 11 | % | | 140,951 | | 11 | % | | $ | 1,497,180 | | 100 | % | | $ | 1,432,616 | | 100 | % | | $ | 1,317,845 | | 100 | % |
Revenue streams | | | | | | | | | | | | | | | | | | (in thousands) | 2024 | | 2023 | | 2022 | | Pega Cloud | $ | 558,734 | | | $ | 461,328 | | | $ | 384,271 | | | Maintenance | 323,304 | | | 331,856 | | | 317,564 | | | Consulting | 213,273 | | | 221,706 | | | 230,654 | | | Revenue recognized over time | 1,095,311 | | | 1,014,890 | | | 932,489 | | | Subscription license | 398,102 | | | 407,625 | | | 366,063 | | | Perpetual license | 3,767 | | | 10,101 | | | 19,293 | | | Revenue recognized at a point in time | 401,869 | | | 417,726 | | | 385,356 | | | $ | 1,497,180 | | | $ | 1,432,616 | | | $ | 1,317,845 | |
| | | | | | | | | | | | | | | | | | | (in thousands) | 2024 | | 2023 | | 2022 | | Pega Cloud | $ | 558,734 | | | $ | 461,328 | | | $ | 384,271 | | | Maintenance | 323,304 | | | 331,856 | | | 317,564 | | | Subscription services | 882,038 | | | 793,184 | | | 701,835 | | | Subscription license | 398,102 | | | 407,625 | | | 366,063 | | | Subscription | 1,280,140 | | | 1,200,809 | | | 1,067,898 | | | Consulting | 213,273 | | | 221,706 | | | 230,654 | | | Perpetual license | 3,767 | | | 10,101 | | | 19,293 | | | $ | 1,497,180 | | | $ | 1,432,616 | | | $ | 1,317,845 | |
Remaining performance obligations ("Backlog") Expected future revenue from existing non-cancellable contracts: As of December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | Subscription services | | Subscription license | | Perpetual license | | Consulting | | Total | | Pega Cloud | | Maintenance | | | | | 1 year or less | $ | 525,133 | | | $ | 230,866 | | | $ | 88,880 | | | $ | 317 | | | $ | 50,519 | | | $ | 895,715 | | 56 | % | 1-2 years | 328,234 | | | 65,461 | | | 10,874 | | | — | | | 3,297 | | | 407,866 | | 25 | % | 2-3 years | 159,536 | | | 24,598 | | | 733 | | | — | | | 125 | | | 184,992 | | 11 | % | Greater than 3 years | 114,256 | | | 19,935 | | | 678 | | | — | | | 50 | | | 134,919 | | 8 | % | | $ | 1,127,159 | | | $ | 340,860 | | | $ | 101,165 | | | $ | 317 | | | $ | 53,991 | | | $ | 1,623,492 | | 100 | % |
As of December 31, 2023: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | Subscription services | | Subscription license | | Perpetual license | | Consulting | | Total | | Pega Cloud | | Maintenance | | | | | 1 year or less | $ | 446,160 | | | $ | 245,271 | | | $ | 62,070 | | | $ | 2,284 | | | $ | 39,810 | | | $ | 795,595 | | 54 | % | 1-2 years | 279,474 | | | 67,720 | | | 9,138 | | | 443 | | | 2,020 | | | 358,795 | | 25 | % | 2-3 years | 144,453 | | | 37,142 | | | 9,789 | | | — | | | 2,896 | | | 194,280 | | 13 | % | Greater than 3 years | 90,177 | | | 24,421 | | | 100 | | | — | | | — | | | 114,698 | | 8 | % | | $ | 960,264 | | | $ | 374,554 | | | $ | 81,097 | | | $ | 2,727 | | | $ | 44,726 | | | $ | 1,463,368 | | 100 | % |
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