v3.26.1
Deferred Revenue and Performance Obligations
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Deferred Revenue and Performance Obligations Disaggregation of Revenue
The tables below show disaggregation of revenue into categories that reflect how economic factors affect the nature, amount, timing, and uncertainty of revenues and cash flows.
Recurring Revenues
The majority of our revenues are comprised of revenues from subscriptions and maintenance, which we consider to be recurring revenues. Subscription revenues primarily consist of revenues derived from our SaaS arrangements and transaction-based fees. These revenues are considered recurring because revenues from these sources are expected to re-occur in similar annual amounts for the term of our relationship with the client. Transaction-based fees are generally the result of multi-year contracts with our clients that result in fees generated by payment transactions and digital government services and are collected on a recurring basis during the contract term. The contract terms for subscription arrangements range from one to 10 years but are typically contracted for initial periods of one to three years. Nearly all of our on-premises software clients contract with us for maintenance and support. Maintenance and support are generally provided under auto-renewing annual contracts or multi-year contracts. We consider all other revenue categories to be non-recurring revenues.
Recurring revenues and non-recurring revenues recognized during the period are as follows:
For the three months ended March 31, 2026Enterprise SoftwarePlatform TechnologiesCorporate UnallocatedTotals
Revenues
Subscriptions:
SaaS$200,132 $22,224 $— $222,356 
Transaction-based fees95,039 112,350 — 207,389 
Maintenance103,327 5,547 — 108,874 
Total recurring revenues398,498 140,121 — 538,619 
Professional services53,258 7,549 — 60,807 
Other revenues12,997 393 687 14,077 
Total non-recurring revenues66,255 7,942 687 74,884 
Total revenues$464,753 $148,063 $687 $613,503 
For the three months ended March 31, 2025Enterprise SoftwarePlatform TechnologiesCorporate UnallocatedTotals
Revenues
Subscriptions:
SaaS$158,741 $21,339 $— $180,080 
Transaction-based fees69,839 125,070 — 194,909 
Maintenance106,979 5,822 — 112,801 
Total recurring revenues335,559 152,231 — 487,790 
Professional services54,593 9,457 — 64,050 
Other revenues12,594 41 690 13,325 
Total non-recurring revenues67,187 9,498 690 77,375 
Total revenues$402,746 $161,729 $690 $565,165 
Deferred Revenue and Performance Obligations
Total deferred revenue, including long-term, by segment is as follows:
March 31, 2026December 31, 2025
Enterprise Software$683,764 $755,894 
Platform Technologies39,341 39,443 
Corporate
7,734 6,489 
Totals$730,839 $801,826 
Changes in total deferred revenue, including long-term, were as follows:
Three Months Ended March 31, 2026
Balance as of December 31, 2025$801,826 
Deferral of revenue345,462 
Recognition of deferred revenue(416,449)
Balance as of March 31, 2026$730,839 
Remaining Performance Obligations
We expect to recognize as revenue approximately 97% of our deferred revenue balance as of March 31, 2026, in the next 12 months, and the remainder thereafter. We believe the portion of transaction price allocated to the remaining performance obligations which is not included in our deferred revenue balance is not a meaningful indicator of future revenue due to contracts with transaction-based fees that vary with transaction activity, the variability in subscription term lengths, and termination provisions included in some contracts that limit inclusion and cause variability from period to period.
Deferred Commissions
Deferred commissions are as follows:
 March 31, 2026December 31, 2025
Prepaid commissions
$21,809 $24,006 
Long-term deferred commissions
53,442 54,561 
Total deferred commissions
$75,251 $78,567 
Amortization expense related to deferred commissions is as follows:
Three Months Ended March 31,
20262025
Amortization expense
$6,419 $5,100 
Deferred commissions have been included with prepaid expenses for the current portion and other non-current assets for the long-term portion in the accompanying condensed consolidated balance sheets. Amortization expense related to deferred commissions is included in sales and marketing expense in the accompanying condensed consolidated statements of income.