| (Unaudited) | |||||||
| Three Months Ended March 31, | |||||||
| (in thousands) | 2023 | 2022 | |||||
| Revenue | $ | 166,034 | $ | 159,781 | |||
| Ending deferred revenue | 141,943 | 118,403 | |||||
| Beginning deferred revenue | (144,460 | ) | (106,032 | ) | |||
| Deferred revenue acquired | — | (815 | ) | ||||
| Billings | $ | 163,517 | $ | 171,337 | |||
The following table provides revenue, Billings and Adjusted EBITDA on a constant currency basis:
| (Unaudited) | ||||||||||||||||||||||||
|
Three Months Ended
March 31, 2023 | Three Months Ended March 31, 2022 |
Increase/
(Decrease) % | ||||||||||||||||||||||
| (in thousands) | As reported |
Currency
changes |
As adjusted for
constant currency | As reported | As reported |
As adjusted for
constant currency | ||||||||||||||||||
| Software revenue | $ | 149.6 | $ | 5.4 | $ | 155.0 | $ | 140.9 | 6.2 | % | 10.0 | % | ||||||||||||
| Total revenue | $ | 166.0 | $ | 5.8 | $ | 171.8 | $ | 159.8 | 3.9 | % | 7.5 | % | ||||||||||||
| Billings | $ | 163.5 | $ | 6.3 | $ | 169.8 | $ | 171.3 | -4.6 | % | -0.9 | % | ||||||||||||
| Adjusted EBITDA | $ | 43.1 | $ | 2.3 | $ | 45.4 | $ | 46.6 | -7.6 | % | -2.6 | % | ||||||||||||
Change in Classification of Indirect Costs
