Revenue Recognition (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Revenue Recognition and Deferred Revenue [Abstract] |
|
| 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 June 30, 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 1 year |
|
1 - 2 years |
|
More than 2 years |
|
Total |
| Product revenue |
$ |
1,670 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,670 |
|
| Subscription revenue |
67,956 |
|
|
59,326 |
|
|
63,842 |
|
|
191,124 |
|
| Service revenue |
24,238 |
|
|
23,019 |
|
|
21,076 |
|
|
68,333 |
|
| License fee and other revenue |
1,789 |
|
|
10 |
|
|
21 |
|
|
1,820 |
|
| Total revenue |
$ |
95,653 |
|
|
$ |
82,355 |
|
|
$ |
84,939 |
|
|
$ |
262,947 |
|
|
| Schedule of Minimum Future Payments on Noncancelable Leases |
As of June 30, 2024, future minimum payments on noncancelable leases are as follows (in thousands):
|
|
|
|
|
|
| Year Ending December 31: |
|
| 2024 (six months remaining) |
$ |
34,992 |
|
| 2025 |
63,964 |
|
| 2026 |
52,682 |
|
| 2027 |
32,219 |
|
| 2028 |
7,133 |
|
| Thereafter |
134 |
|
|
$ |
191,124 |
|
|
| Summary of Rollforward of Deferred Revenue |
The following table provides a rollforward of deferred revenue (in thousands):
|
|
|
|
|
|
| Balance at December 31, 2023 |
$ |
71,490 |
|
| Revenue recognized in relation to the beginning of the year contract liability balance |
(31,445) |
|
| Revenue deferred |
39,778 |
|
| Balance at June 30, 2024 |
$ |
79,823 |
|
|
| Schedule of Components of Lease Revenue |
The following table presents the Company’s components of lease revenue (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
|
|
|
|
| Interest income on lease receivables |
$ |
41 |
|
|
$ |
51 |
|
|
$ |
83 |
|
|
$ |
104 |
|
| Lease income - operating leases |
15,903 |
|
|
7,964 |
|
|
30,406 |
|
|
14,430 |
|
| Total lease revenue |
$ |
15,944 |
|
|
$ |
8,015 |
|
|
$ |
30,489 |
|
|
$ |
14,534 |
|
|
| Summary of Company's Revenue by Revenue Stream |
The following table presents the Company’s revenue by revenue stream (in thousands). Certain prior period amounts have been reclassified to conform to current period presentation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
| Product revenue |
$ |
2,044 |
|
|
$ |
7,243 |
|
|
$ |
2,647 |
|
|
$ |
15,997 |
|
| Subscription revenue |
15,903 |
|
|
7,964 |
|
|
30,406 |
|
|
14,430 |
|
| Service revenue |
5,553 |
|
|
3,905 |
|
|
10,937 |
|
|
6,691 |
|
| License fees |
1,717 |
|
|
— |
|
|
2,441 |
|
|
— |
|
| Professional services and other revenue |
323 |
|
|
713 |
|
|
777 |
|
|
1,288 |
|
| Total revenue |
$ |
25,540 |
|
|
$ |
19,825 |
|
|
$ |
47,208 |
|
|
$ |
38,406 |
|
|