Quarterly report [Sections 13 or 15(d)]

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

v3.25.3
Revenue, Contract Assets, Contract Liabilities and Remaining Performance Obligations (Tables)
9 Months Ended
Sep. 30, 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 September 30, 2025

 

 

Nine Months Ended September 30, 2025

 

Americas (1)

 

$

7,806

 

 

 

62

%

 

$

33,970

 

 

 

61

%

EMEA(2)

 

 

3,999

 

 

 

31

%

 

 

18,203

 

 

 

33

%

Asia Pacific

 

 

865

 

 

 

7

%

 

 

3,555

 

 

 

6

%

Total

 

$

12,670

 

 

 

100

%

 

$

55,728

 

 

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2024

 

 

Nine Months Ended September 30, 2024

 

Americas (1)

 

$

14,304

 

 

 

50

%

 

$

50,864

 

 

 

57

%

EMEA(2)

 

 

12,334

 

 

 

43

%

 

 

31,729

 

 

 

36

%

Asia Pacific

 

 

1,930

 

 

 

7

%

 

 

6,199

 

 

 

7

%

Total

 

$

28,568

 

 

 

100

%

 

$

88,792

 

 

 

100

%

Revenue from individual geographic regions that represent less than 10% of total revenue for the periods presented are not separately disclosed.

(1)
U.S. represented 52% of total revenue for each of the three and nine months ended September 30, 2025, and 44% and 42% of total revenue for the three and nine months ended September 30, 2024, respectively. Canada represented 15% of total revenue for the nine months ended September 30, 2024.
(2)
United Kingdom represented 11% of total revenue for each of the nine months ended September 30, 2025 and 2024. Belgium represented 11% of total revenue for the three months ended September 30, 2025. France represented 16% of total revenue for the three months ended September 30, 2024.
Schedule of Changes in Contract With Customer Asset

Changes in contract assets for the nine months ended September 30, 2025 and 2024 were as follows:

 

2025

 

 

2024

 

Balance as of January 1

 

$

785

 

 

$

4,917

 

Contract assets recorded during the period

 

 

4,667

 

 

 

3,967

 

Reclassified to accounts receivable

 

 

(1,573

)

 

 

(4,724

)

Other

 

 

71

 

 

 

(12

)

Balance as of September 30

 

$

3,950

 

 

$

4,148

 

Schedule of Changes in Contract With Customer Liability

Changes in contract liabilities for the nine months ended September 30, 2025 and 2024 were as follows:

 

2025

 

 

2024

 

Balance as of January 1

 

$

45,526

 

 

$

49,101

 

Contract liabilities recorded during the period

 

 

21,508

 

 

 

33,650

 

Revenue recognized during the period

 

 

(18,398

)

 

 

(33,202

)

Other

 

 

1,010

 

 

 

231

 

Balance as of September 30

 

$

49,646

 

 

$

49,780

 

 

Schedule of Revenue Remaining Performance Obligation Expected Timing of Satisfaction

The Company expects to recognize its remaining performance obligations as of September 30, 2025, over the following periods:

 

 

September 30, 2025

 

1 to 12 months

 

$

76,585

 

 

 

34

%

13 to 24 months

 

 

58,255

 

 

 

26

%

25 to 36 months

 

 

36,714

 

 

 

17

%

37 to 48 months

 

 

22,142

 

 

 

10

%

Remaining

 

 

29,417

 

 

 

13

%

Total

 

$

223,113

 

 

 

100

%