Revenue Recognition |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Revenue from Contract with Customer [Abstract] | |
| Revenue Recognition | Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region in Note 12 and based on the subscription versus professional services and other classification on the consolidated statements of operations, as it believes these best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Deferred Revenue Deferred revenue is recorded upon establishment of unconditional right to payment under non-cancellable contracts for subscription and professional services described above and is recognized as the revenue recognition criteria are met. The Company generally invoices customers in advance in monthly, quarterly, semi-annual and annual installments. The deferred revenue balance is influenced by several factors, including the compounding effects of renewals, invoice duration, timing and size. The balance of deferred revenue, including current and non-current balances, as of December 31, 2024 and 2023 were $179.7 million and $141.5 million, respectively. For the year ended December 31, 2024, the additions to our deferred revenue balance were due to $444.1 million of additional invoicing, which was offset by $405.9 million of revenue recognized during the same period. Deferred revenue during the year ended December 31, 2023, increased $45.2 million as a result of $375.6 million of additional invoicing and $3.2 million and $0.1 million of deferred revenue acquired from the Tagger and Repustate acquisitions, respectively, which was offset by $333.6 million of revenue recognized during the same period. The amount of revenue recognized during the years ended December 31, 2024 and 2023 that was included in deferred revenue at the beginning of each period was $137.9 million and $94.4 million, respectively. As of December 31, 2024, including amounts already invoiced and amounts contracted but not yet invoiced, $351.5 million of revenue is expected to be recognized from remaining performance obligations, of which 71% is expected to be recognized in the next 12 months, 22% is expected to be recognized in the subsequent 12 months and the remainder thereafter.
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