Revenue (Tables)

3 Months Ended

Mar. 31, 2023

Revenue

Schedule of revenue by discipline

	Three months ended
	March 31,
	2023		2022
	(in thousands)
Systems	$	195,198	$	151,801
Aftermarket		58,822		51,794
Total Revenue	$	254,020	$	203,595

Schedule of revenue by geographic markets

	Three months ended
	March 31,
	2023		2022
	(in thousands)
North America	$	45,166	$	24,913
Asia Pacific		191,103		149,240
Europe		17,751		29,442
Total Revenue	$	254,020	$	203,595

Schedule of Contract liabilities

	March 31,		December 31,
	2023		2022
	(in thousands)
Contract liabilities	$	201,725	$	154,777

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
	March 31,
	2023		2022
	(in thousands)
Balance, beginning of the period	$	154,777	$	68,436
Deferral of revenue		88,048		23,394
Recognition of deferred revenue		(41,100)		(16,990)
Balance, end of the period	$	201,725	$	74,840