Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

We disaggregate revenue from contracts with customers into three revenue categories: (i) product revenues, (ii) rental revenues and (iii) field service and other revenues. We have predominately domestic operations, with a small amount of sales in Australia, Canada, the Middle East and other international markets. For the year ended December 31, 2023, we derived 74% of our total revenues from the sale of our products, 10% of our total revenues from rental and 16% of our total revenues from field service and other. This compares to 66% of our total revenues from the sale of our products, 14% of our total revenues from rental and 20% of our total revenues from field service and other for the year ended December 31, 2022.  In 2021, we derived 64% of our total revenues from the sale of our products, 14% from rental and 22% from field service and other. The following table presents our revenues disaggregated by category:

	Year Ended December 31,
	2023		2022		2021
Product revenue	$	810,379	$	452,615	$	280,907
Rental revenue	113,631		100,453		61,629
Field service and other revenue	172,950		135,301		96,053
Total revenue	$	1,096,960	$	688,369	$	438,589

At December 31, 2023, we had a deferred revenue balance of $8.1 million compared to the December 31, 2022 balance of $1.5 million included in accrued expenses and other current liabilities in the consolidated balance sheets. Deferred revenue represents our obligation to transfer products or perform services for a customer for which we have received cash or billed in advance. The revenue that has been deferred will be recognized upon product delivery or as services are performed. As of December 31, 2023, we did not have any contracts with an original length of greater than a year from which revenue is expected to be recognized in the future related to performance obligations that are unsatisfied.