Revenue (Tables)

6 Months Ended

Jun. 30, 2025

Revenue

Schedule of revenue by discipline

	Three months ended				Six months ended
	June 30,				June 30,
	2025		2024		2025		2024
	(in thousands)
Systems	$	133,288	$	198,645	$	270,897	$	394,076
Aftermarket		61,256		57,867		116,210		114,807
Total Revenue	$	194,544	$	256,512	$	387,107	$	508,883

Schedule of revenue by geographic markets

	Three months ended				Six months ended
	June 30,				June 30,
	2025		2024		2025		2024
	(in thousands)
North America	$	34,223	$	34,373	$	74,748	$	79,876
Asia Pacific		145,628		196,159		280,053		384,376
Europe		14,693		25,980		32,306		44,631
Total Revenue	$	194,544	$	256,512	$	387,107	$	508,883

Schedule of Contract liabilities

	June 30,		December 31,
	2025		2024
	(in thousands)
Contract liabilities	$	129,742	$	138,174

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				Six months ended
	June 30,				June 30,
	2025		2024		2025		2024
	(in thousands)
Balance, beginning of the period	$	139,324	$	208,418	$	138,174	$	210,885
Deferral of revenue		29,047		24,341		42,207		59,943
Other adjustments *		(2,273)		(4,716)		(2,272)		(4,716)
Recognition of deferred revenue		(36,356)		(54,032)		(48,367)		(92,101)
Balance, end of the period	$	129,742	$	174,011	$	129,742	$	174,011

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