| Three months ended | ||||||||||||||||
| ASC 606 | ||||||||||||||||
| (in thousands) |
March 31,
2018 |
June 30,
2018 |
September 30,
2018 |
December 31,
2018 | ||||||||||||
| Software product revenue | $ | 89,670 | $ | 70,606 | $ | 64,182 | $ | 79,903 | ||||||||
| Total revenue | $ | 113,257 | $ | 93,360 | $ | 86,751 | $ | 103,011 | ||||||||
| Net income (loss) | $ | 24,684 | $ | (1,080 | ) | $ | 934 | $ | (9,003 | ) | ||||||
| Adjusted EBITDA | $ | 29,550 | $ | 5,303 | $ | 2,399 | $ | 12,928 | ||||||||
Disaggregation of revenue
The Company disaggregates its software revenue by type of performance obligation and timing of revenue recognition as follows (in thousands):
| Year Ended December 31, | ||||||||
| 2019 | 2018 | |||||||
| Software revenue: | ||||||||
| Term licenses | $ | 201,881 | $ | 168,909 | ||||
| Perpetual licenses | 42,440 | 38,255 | ||||||
| Maintenance | 103,699 | 86,150 | ||||||
| Professional services and other | 18,682 | 11,047 | ||||||
| Total software revenue | $ | 366,702 | $ | 304,361 | ||||
