Note 11. Revenue Recognition

 

The table below summarizes our revenues as presented in our consolidated statements of operations for the years ended October 31, 2025 and 2024 by revenue type:

 

  

Year Ended October 31,

 

(in thousands)

 

2025

  

2024

 

Service revenue

 $356,247  $391,346 

Lease fixed revenue

  23,122   21,599 

Lease variable revenue

  13,498   12,927 

Total revenue

 $392,867  $425,872 
  

Historical Timeline

Fiscal YearFiled
2025Jan 13, 2026Showing above
2024Jan 10, 2025
2023Jan 16, 2024
2022Jan 31, 2023
2021Jan 12, 2022
2020Jan 12, 2021
2019Jan 14, 2020

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.