Revenue (Tables)

3 Months Ended

Mar. 31, 2026

Revenue

Schedule of revenue by categories used by management

	Three months ended
	March 31,
	2026		2025
	(in thousands)
Systems	$	126,326	$	137,609
Aftermarket		72,630		54,954
Total Revenue	$	198,956	$	192,563

Schedule of revenue by geographic markets

	Three months ended
	March 31,
	2026		2025
	(in thousands)
North America	$	22,767	$	40,525
Asia Pacific		144,418		134,426
Europe		31,771		17,612
Total Revenue	$	198,956	$	192,563

Schedule of Contract liabilities

	March 31,		December 31,
	2026		2025
	(in thousands)
Contract liabilities	$	109,566	$	108,939

Contract liabilities are reflected as deferred revenue on the consolidated balance sheets and include payments received in advance of system sales as well as deferral of revenue from systems sales for installation and other future performance obligations. Contract liabilities are recognized as revenue upon the fulfillment of performance obligations.

	Three months ended
	March 31,
	2026		2025
	(in thousands)
Balance, beginning of the period	$	108,939	$	138,174
Deferral of revenue		20,663		26,359
Other adjustments *		(450)		—
Recognition of deferred revenue		(19,586)		(25,209)
Balance, end of the period	$	109,566	$	139,324

* Adjustment to contracts with customers are assessed to determine if amounts paid by customers represent deferred revenue or liabilities payable to customers and such amounts are accordingly reclassified pursuant to our revenue recognition policy and ASC 606.