Revenue (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract] |
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| Summarizes Revenue by Type of Service |
The following table summarizes revenue by type of service for the years ended December 31 (in thousands):
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Year Ended December 31, |
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2025 |
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2024 |
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|
2023 |
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Software subscriptions |
|
$ |
1,013,892 |
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|
$ |
906,464 |
|
|
$ |
830,117 |
|
Other |
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|
43,109 |
|
|
|
38,336 |
|
|
|
36,261 |
|
Total revenues |
|
$ |
1,057,001 |
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|
$ |
944,800 |
|
|
$ |
866,378 |
|
|
| Summary of Receivables Contract Assets and Contract Liabilities from Contracts with Customers |
The balances of the Company’s receivables, contract assets and contract liabilities from contracts with customers are as follows (in thousands):
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December 31, |
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2025 |
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2024 |
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2023 |
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Accounts receivables-Net of allowances |
$ |
137,056 |
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|
$ |
106,578 |
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|
$ |
102,365 |
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Deferred contract costs |
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24,923 |
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|
|
22,373 |
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|
|
17,900 |
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Deferred contract costs-non-current |
|
22,479 |
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|
|
18,692 |
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|
|
22,302 |
|
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Other assets (accounts receivable, non-current) |
|
25,532 |
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|
|
16,946 |
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|
|
15,198 |
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Deferred revenues |
|
72,793 |
|
|
|
44,915 |
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|
|
43,567 |
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Other liabilities (deferred revenues, non-current) |
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1,368 |
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|
1,415 |
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|
1,373 |
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| Summary of Deferred Contract Costs |
A summary of the activity impacting the deferred contract costs during the years ended December 31, 2025, 2024 and 2023 is presented below (in thousands):
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Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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Balance at beginning of period |
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|
$ |
41,065 |
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$ |
40,202 |
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$ |
36,717 |
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Costs amortized |
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(24,022 |
) |
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|
(22,085 |
) |
|
|
(19,197 |
) |
Additional amounts deferred |
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|
|
30,359 |
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|
|
22,948 |
|
|
|
22,682 |
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Balance at end of period |
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|
$ |
47,402 |
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|
$ |
41,065 |
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|
$ |
40,202 |
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Classified as: |
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Current |
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$ |
24,923 |
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$ |
22,373 |
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|
$ |
17,900 |
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Non-current |
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|
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22,479 |
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|
|
18,692 |
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|
|
22,302 |
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Total deferred contract costs |
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|
$ |
47,402 |
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|
$ |
41,065 |
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|
$ |
40,202 |
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|
| Summary of Deferred Revenue |
A summary of the activity impacting deferred revenue balances during the years ended December 31, 2025, 2024 and 2023, is presented below (in thousands):
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Year Ended December 31, |
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2025 |
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2024 |
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|
2023 |
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Balance at beginning of period |
|
|
$ |
46,330 |
|
|
$ |
44,940 |
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|
$ |
36,479 |
|
Revenue recognized1 |
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|
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(581,545 |
) |
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(494,598 |
) |
|
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(434,197 |
) |
Additional amounts deferred1 |
|
|
|
609,376 |
|
|
|
495,988 |
|
|
|
442,658 |
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Balance at end of period |
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|
$ |
74,161 |
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$ |
46,330 |
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$ |
44,940 |
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Classified as: |
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Current |
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$ |
72,793 |
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$ |
44,915 |
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$ |
43,567 |
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Non-current |
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|
|
1,368 |
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|
1,415 |
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|
1,373 |
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Total deferred revenue |
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|
$ |
74,161 |
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$ |
46,330 |
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$ |
44,940 |
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1 Amounts include total revenue deferred and recognized during each respective period.
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