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REVENUE (Notes)
 6 Months Ended
Jun. 30, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Disaggregated Revenue and Geography Information

Through the evaluation of the discrete financial information that is regularly reviewed by the chief operating decision makers (our chief executive officer and chief financial officer), we have determined that we have one reportable segment.

The following table is a summary of our revenues by type for the three and six months ended June 30, 2022 and 2021 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Subscriptions$34,142 $21,508 $67,096 $46,376 
Maintenance27,775 30,443 56,102 60,295 
Integrated solutions & other35,763 42,925 75,131 82,569 
Total net revenues$97,680 $94,876 $198,329 $189,240 
The following table sets forth our revenues by geographic region for the three and six months ended June 30, 2022 and 2021 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Revenues:  
United States$40,160 $41,587 $84,549 $81,058 
Europe, Middle East and Africa36,316 34,094 75,161 70,617 
Asia-Pacific12,798 14,566 25,319 27,756 
Other Americas8,406 4,629 13,300 9,809 
Total net revenues$97,680 $94,876 $198,329 $189,240 

Contract Asset

Contract asset activity for the six months ended June 30, 2022 and 2021 was as follows (in thousands):
June 30, 2022June 30, 2021
Contract asset at beginning of period$25,397 $18,579 
Revenue in excess of billings19,735 27,282 
Customer billings(14,858)(24,033)
Contract asset at end of period$30,274 $21,828 
Less: long-term portion (recorded in other long-term assets)9,324 — 
Contract asset, current portion$20,950 $21,828 


Deferred Revenue

Deferred revenue activity for the six months ended June 30, 2022 and 2021 was as follows (in thousands):
June 30, 2022June 30, 2021
Deferred revenue at beginning of period$98,082 $99,259 
Billings deferred45,192 45,192 46,686 
Recognition of prior deferred revenue(62,341)(54,362)
Deferred revenue at end of period$80,933 $91,583 

A summary of the significant performance obligations included in deferred revenue is as follows (in thousands):
June 30, 2022
Product$7,373 
Subscription6,887 
Maintenance contracts59,994 
Implied PCS4,717 
Professional services, training and other1,962 
Deferred revenue at June 30, 2022
$80,933 

Remaining Performance Obligations
For transaction prices allocated to remaining performance obligations, we apply practical expedients and do not disclose quantitative or qualitative information for remaining performance obligations (i) that have original expected durations of one year or less and (ii) where we recognize revenue equal to what we have the right to invoice and that amount corresponds directly with the value to the customer of our performance to date.

Historically, for many of our products, we had an ongoing practice of making when-and-if-available software updates available to customers free of charge for a period of time after initial sales to customers. The expectation created by this practice of providing free Software Updates represents an implied obligation of a form of post-contract customer support (“Implied PCS”) which represents a performance obligation. While we have ceased providing Implied PCS on new product offerings, we continue to provide Implied PCS for older products that were predominately sold in prior years. Revenue attributable to Implied PCS performance obligations is recognized over time on a ratable basis over the period that Implied PCS is expected to be provided, which is typically six years. We have remaining performance obligations of $4.7 million attributable to Implied PCS recorded in deferred revenue as of June 30, 2022. We expect to recognize revenue for these remaining performance obligations of $1.0 million for the remainder of 2022 and $1.5 million, $1.1 million, $0.7 million and $0.3 million for the years ending December 31, 2023, 2024, 2025, and 2026, respectively, and $0.1 million thereafter.

As of June 30, 2022, we had approximately $30.2 million of transaction price allocated to remaining performance obligations for certain enterprise agreements that have not yet been fully invoiced. Approximately $22.4 million of these performance obligations were unbilled as of June 30, 2022. Remaining performance obligations represent obligations we must deliver for specific products and services in the future where there is not yet an enforceable right to invoice the customer. Our remaining performance obligations do not include contractually committed minimum purchases that are common in our strategic purchase agreements with resellers since our specific obligations to deliver products or services is not yet known, as customers may satisfy such commitments by purchasing an unknown combination of current or future product offerings. While the timing of fulfilling individual performance obligations under the contracts can vary dramatically based on customer requirements, we expect to recognize the $30.2 million in roughly equal installments through 2027.

Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations due to contract breach, contract amendments, and changes in the expected timing of delivery.