Quarterly report [Sections 13 or 15(d)]

Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations (Tables)

v3.25.1
Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue by Geography

The following revenue disaggregated by geography, derived from billing addresses, was recognized:

 

 

Three Months Ended March 31, 2025

 

 

Three Months Ended March 31, 2024

 

Americas (1)

 

$

13,580

 

 

 

57

%

 

$

22,680

 

 

 

65

%

EMEA(2)

 

 

8,217

 

 

 

34

%

 

 

9,959

 

 

 

29

%

Asia Pacific

 

 

2,079

 

 

 

9

%

 

 

2,186

 

 

 

6

%

Total

 

$

23,876

 

 

 

100

%

 

$

34,825

 

 

 

100

%

 

(1)
U.S. represented 50% and 34% of total revenue for the three months ended March 31, 2025, and 2024, respectively. Canada represented 30% of total revenue for the three months ended March 31, 2024.
(2)
United Kingdom represented 14% of total revenue for the three months ended March 31, 2025.
Schedule of Changes in Contract With Customer Asset

Changes in contract assets for the three months ended March 31, 2025 and 2024 were as follows:

 

2025

 

 

2024

 

Balance as of January 1

 

$

785

 

 

$

4,917

 

Contract assets recorded during the period

 

 

2,126

 

 

 

4,696

 

Reclassified to accounts receivable

 

 

(710

)

 

 

(4,399

)

Other

 

 

20

 

 

 

(29

)

Balance as of March 31

 

$

2,221

 

 

$

5,185

 
Schedule of Changes in Contract With Customer Liability

Changes in contract liabilities for the three months ended March 31, 2025 and 2024 were as follows:

 

2025

 

 

2024

 

Balance as of January 1

 

$

45,526

 

 

$

49,101

 

Contract liabilities recorded during the period

 

 

11,635

 

 

 

13,004

 

Revenue recognized during the period

 

 

(9,908

)

 

 

(20,317

)

Other

 

 

433

 

 

 

(299

)

Balance as of March 31

 

$

47,686

 

 

$

41,489

 
Schedule of Revenue Remaining Performance Obligation Expected Timing of Satisfaction

The Company expects to recognize its remaining performance obligations as of March 31, 2025, over the following periods:

 

 

March 31, 2025

 

1 to 12 months

 

$

83,506

 

 

 

33

%

13 to 24 months

 

 

65,320

 

 

 

26

%

25 to 36 months

 

 

41,726

 

 

 

17

%

37 to 48 months

 

 

23,981

 

 

 

9

%

Remaining

 

 

37,978

 

 

 

15

%

Total

 

$

252,511

 

 

 

100

%