Revenue (Tables)

6 Months Ended

Jun. 30, 2023

Revenue

Schedule of revenue by discipline

	Three months ended				Six months ended
	June 30,				June 30,
	2023		2022		2023		2022
	(in thousands)
Systems	$	215,174	$	165,350	$	410,372	$	317,152
Aftermarket		58,796		55,827		117,618		107,620
Total Revenue	$	273,970	$	221,177	$	527,990	$	424,772

Schedule of revenue by geographic markets

	Three months ended				Six months ended
	June 30,				June 30,
	2023		2022		2023		2022
	(in thousands)
North America	$	37,918	$	34,683	$	83,084	$	59,596
Asia Pacific		205,941		168,705		397,044		317,945
Europe		30,111		17,789		47,862		47,231
Total Revenue	$	273,970	$	221,177	$	527,990	$	424,772

Schedule of Contract liabilities

	June 30,		December 31,
	2023		2022
	(in thousands)
Contract liabilities	$	182,540	$	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				Six months ended
	June 30,				June 30,
	2023		2022		2023		2022
	(in thousands)
Balance, beginning of the period	$	201,725	$	74,840	$	154,777	$	68,436
Deferral of revenue		34,977		28,703		107,556		46,697
Recognition of deferred revenue		(54,162)		(31,994)		(79,793)		(43,584)
Balance, end of the period	$	182,540	$	71,549	$	182,540	$	71,549