UNISYS CORPUIS

UNISYS CORP Revenue Disclosure

10-KFiled Feb 25, 20262 min read
Revenue
The following table presents the company’s revenue disaggregated by type of revenue:
Year ended December 31,202520242023
Services$1,611.0 $1,665.3 $1,665.9 
Technology(i)
339.1 343.1 349.5 
Total revenue
$1,950.1 $2,008.4 $2,015.4 
(i) Technology represents hardware and software license revenue.
Contract Assets and Deferred Revenue
Contract assets represent rights to consideration in exchange for goods or services transferred to a customer when that right is conditional on something other than the passage of time. Deferred revenue represents contract liabilities.
Net contract assets (liabilities) are as follows:
As of December 31,20252024
Contract assets - current
$10.9 $16.0 
Contract assets - long-term(i)
4.1 6.0 
Deferred revenue - current
(228.5)(210.4)
Deferred revenue - long-term
(100.7)(108.8)
(i) Reported in other long-term assets on the company’s consolidated balance sheets.
Significant changes in the above contract liability balances were as follows:
Year ended December 31,20252024
Revenue recognized that was included in deferred revenue at the beginning of the period$215.1 $189.5 
Capitalized Contract Costs
The company’s capitalized contract costs, net include the following:
As of December 31,
20252024
Deferred commissions, net
$8.7 $7.2 
Costs to fulfill a contract, net
16.7 12.9 
Other capitalized assets, net (i)
48.2 11.1 
Total capitalized contract costs, net
$73.6 $31.2 
(i) As of December 31, 2025, other capitalized assets, net includes $36.9 million of finance lease right-of-use assets related to a client contract.
Amortization expense related to capitalized contract costs, net was $17.1 million, $22.6 million and $50.3 million, respectively, in 2025, 2024, and 2023.
Remaining Performance Obligations
Remaining performance obligations represent the transaction price of firm orders for which work has not been performed and excludes (1) contracts with an original expected length of one year or less and (2) contracts for which the company recognizes revenue at the amount to which it has the right to invoice for services performed. At December 31, 2025, the company had approximately $0.9 billion of remaining performance obligations of which approximately 37% is estimated to be recognized as revenue by the end of 2026, 30% by the end of 2027, 19% by the end of 2028, 9% by the end of 2029 and 5% thereafter.

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 21, 2025
2023Feb 26, 2024
2022Mar 1, 2023
2021Feb 22, 2022
2020Feb 26, 2021

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.

Other Available Disclosures

Income TaxesEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsNew StandardsPay vs Performance