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Revenue Recognition
 3 Months Ended
Feb. 28, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Timing of Revenue Recognition

Our revenues are derived from licensing our products, and from related services, which consist of maintenance, hosting services, and consulting and education. Information relating to revenue from external customers by revenue type is as follows (in thousands):
 
Three Months Ended
(In thousands)February 28, 2023February 28, 2022
Performance obligations transferred at a point in time:
Software licenses$57,568 $42,750 
Performance obligations transferred over time:
Maintenance92,513 89,963 
Services14,145 12,209 
Total revenue$164,226 $144,922 
Geographic Revenue

In the following table, revenue attributed to North America includes sales to customers in the U.S. and sales to certain multinational organizations. Revenue from EMEA, Latin America and the Asia Pacific region includes sales to customers in each region plus sales from the U.S. to distributors in these regions. Information relating to revenue from external customers from different geographical areas is as follows (in thousands):
 
Three Months Ended
(In thousands)February 28, 2023February 28, 2022
North America$98,828 $78,093 
EMEA53,405 53,702 
Latin America4,189 3,883 
Asia Pacific7,804 9,244 
Total revenue$164,226 $144,922 

No single customer, partner, or country outside the U.S. has accounted for more than 10% of our total revenue for the three months ended February 28, 2023 and February 28, 2022.

Contract Balances

Unbilled Receivables and Contract Assets

As of February 28, 2023, billing of our long-term unbilled receivables is expected to occur as follows (in thousands):
2024$19,453 
202515,607 
202612,862 
Total$47,922 

Our contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. We did not have any net contract assets as of February 28, 2023 or November 30, 2022.

Deferred Revenue

Deferred revenue expected to be recognized as revenue more than one year subsequent to the balance sheet date is included in long-term liabilities on the consolidated balance sheets. Our deferred revenue balance is primarily made up of deferred maintenance.

As of February 28, 2023, the changes in net deferred revenue were as follows (in thousands):
Balance, December 1, 2022$282,440 
Billings and other183,633 
Revenue recognized(164,226)
Balance, February 28, 2023$301,847 

As of February 28, 2023, transaction price allocated to remaining performance obligations was $309 million. We expect to recognize approximately 81% of the revenue within the next year and the remainder thereafter.
Deferred Contract Costs

Certain of our sales incentive programs meet the requirements to be capitalized. Depending upon the sales incentive program and the related revenue arrangement, such capitalized costs are amortized over the longer of (i) the product life, which is generally three to five years; or (ii) the term of the related revenue contract. We determined that a three to five year product life represents the period of benefit that we receive from these incremental costs based on both qualitative and quantitative factors, which include customer contracts, industry norms, and product upgrades. Total deferred contract costs were $8.4 million and $8.8 million as of February 28, 2023 and November 30, 2022, respectively, and are included in other current assets and other assets on our condensed consolidated balance sheets. Amortization of deferred contract costs is included in sales and marketing expense on our condensed consolidated statement of operations and was minimal in all periods presented.