Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Revenue

Schedule of revenue by discipline

	Three months ended				Nine months ended
	September 30,				September 30,
	2022		2021		2022		2021
	(in thousands)
Systems	$	171,092	$	126,166	$	488,243	$	307,295
Aftermarket		58,083		50,528		165,704		149,449
Total Revenue	$	229,175	$	176,694	$	653,947	$	456,744

Schedule of revenue by geographic markets

	Three months ended				Nine months ended
	September 30,				September 30,
	2022		2021		2022		2021
	(in thousands)
North America	$	36,036	$	11,847	$	95,633	$	31,560
Asia Pacific		166,342		137,870		484,286		357,903
Europe		26,797		26,977		74,028		67,281
Total Revenue	$	229,175	$	176,694	$	653,947	$	456,744

Schedule of Contract liabilities

	September 30,		December 31,
	2022		2021
	(in thousands)
Contract liabilities	$	122,589	$	68,436

Contract liabilities are reflected as deferred revenue on the consolidated balance sheet and relate to payments invoiced or received in advance of completion of performance obligations under a contract. Contract liabilities are recognized as revenue upon the fulfillment of performance obligations.

	Three months ended				Nine months ended
	September 30,				September 30,
	2022		2021		2022		2021
	(in thousands)
Balance, beginning of the period	$	71,549	$	35,518	$	68,436	$	23,058
Deferral of revenue		70,706		38,867		108,472		55,011
Recognition of deferred revenue		(19,666)		(16,145)		(54,319)		(19,829)
Balance, end of the period	$	122,589	$	58,240	$	122,589	$	58,240