Revenue Recognition (Tables)
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9 Months Ended |
Sep. 30, 2023 |
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| Revenue Recognition and Deferred Revenue [Abstract] |
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| Schedule of performance obligations |
The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of September 30, 2023.
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Less than 1 year |
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Greater than 1 year |
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Total |
| Product revenue |
$ |
2,469 |
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$ |
— |
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$ |
2,469 |
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| Subscription revenue |
51,258 |
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|
108,942 |
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|
160,200 |
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| Service revenue |
18,173 |
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|
40,284 |
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|
58,457 |
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| Total revenue |
$ |
71,900 |
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$ |
149,226 |
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$ |
221,126 |
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| Schedule of minimum future payments on noncancelable leases |
As of September 30, 2023, future minimum payments on noncancelable leases are as follows (in thousands):
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| Year Ending December 31: |
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| 2023 (three months remaining) |
$ |
12,988 |
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| 2024 |
50,800 |
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| 2025 |
46,632 |
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| 2026 |
35,489 |
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| 2027 |
14,291 |
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$ |
160,200 |
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| Summary of rollforward of deferred revenue |
The following table provides a rollforward of deferred revenue (in thousands):
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| Balance at December 31, 2022 |
$ |
35,968 |
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| Revenue recognized in relation to the beginning of the year contract liability balance |
(16,507) |
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| Revenue deferred |
53,058 |
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| Balance at September 30, 2023 |
$ |
72,519 |
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| Schedule of components of lease revenue |
The following table presents the Company’s components of lease revenue (in thousands):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Revenue from sales-type leases |
$ |
— |
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|
$ |
29 |
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$ |
— |
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$ |
1,135 |
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| Interest income on lease receivables |
49 |
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|
60 |
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|
153 |
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|
170 |
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| Lease income - operating leases |
10,231 |
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|
5,198 |
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|
24,661 |
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|
12,208 |
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| Total lease revenue |
$ |
10,280 |
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$ |
5,287 |
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$ |
24,814 |
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$ |
13,513 |
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| Summary of company's revenue by revenue stream |
The following table presents the Company’s revenue by revenue stream (in thousands):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Product revenue |
$ |
3,191 |
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$ |
9,839 |
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$ |
19,188 |
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$ |
19,179 |
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| Leased equipment |
10,231 |
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5,198 |
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24,661 |
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12,208 |
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| SaaS, maintenance, and other revenue |
4,397 |
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|
1,180 |
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11,296 |
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|
2,277 |
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| Professional services |
360 |
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|
313 |
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1,440 |
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|
646 |
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| License fee and other revenue |
2,012 |
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— |
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2,012 |
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— |
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| Total revenue |
$ |
20,191 |
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$ |
16,530 |
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$ |
58,597 |
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$ |
34,310 |
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