Revenues
The following represents total revenues disaggregated by primary geographical markets (as defined by STR, Inc. ("STR")) for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
Primary Markets202520242023
Orlando, FL
$
146,186 
$
136,074 
$
132,035 
Houston, TX
110,780 
112,884 
104,238 
San Diego, CA
110,296 
102,712 
102,513 
Phoenix, AZ
109,727 
64,807 
85,095 
Atlanta, GA
72,062 
68,970 
64,393 
San Francisco/San Mateo, CA
61,407 
57,893 
54,724 
Nashville, TN
54,603 
54,284 
55,021 
Portland, OR
47,374 
49,440 
48,330 
Dallas, TX
44,533 
77,135 
71,909 
San Jose-Santa Cruz, CA
44,114 
40,320 
38,103 
Other
277,418 
274,528 
269,082 
Total
$
1,078,500 
$
1,039,047 
$
1,025,443 

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 25, 2025
2023Feb 27, 2024
2022Mar 2, 2023
2021Mar 1, 2022
2020Mar 1, 2021
2019Feb 25, 2020
2018Feb 26, 2019

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.