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Future Performance Obligations
Contracted but not yet recognized revenue from service, subscription, and long‑term contracts that shows how much business is already booked and expected to convert into future revenue. A larger balance points to more predictable, recurring cash flow from Pitney Bowes’ software and logistics offerings; a shrinking balance can warn of weakening sales or shorter contract duration.Future Performance Obligations have steadily shrunk, with an accelerated drop through 2025 that reflects the preventable Presort customer losses and SendTech IMI migration headwinds management acknowledged. That shrinking backlog reduces forward revenue visibility and helps explain management’s reliance on aggressive Presort pricing, prepayment-driven free cash flow and opportunistic buybacks, while warning recovery may be back-loaded to H2 2026; sustained FPO declines would signal longer-term pressure on top-line growth unless pipeline conversion improves.
Date | Future Performance Obligations |
|---|---|
Jun 30, 2026 | $636.54M |
Mar 31, 2026 | $648.68M |
Dec 31, 2025 | $642.46M |
Sep 30, 2025 | $660.15M |
Jun 30, 2025 | $676.11M |
Mar 31, 2025 | $688.38M |
Dec 31, 2024 | $692.40M |
Sep 30, 2024 | $706.35M |
Jun 30, 2024 | $700.82M |
Mar 31, 2024 | $689.72M |