Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.24.0.1
Revenue
 9 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
We disaggregate our revenue from contracts with customers by geographic location, as well as revenues recognized at point in time and revenues recognized over time, as we believe these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.
Revenue recognized at a point-in-time based on when control transfers to the customer is generally related to our product sales. Point-in-time revenue does not typically require engineering or installation services. Revenue recognized over time occurs on our projects where usually in addition to materials, engineering or installation services, or a combination of the two, are also required. We recognize revenue related to such projects in a systematic way that reflects the transfer of goods or services, or a combination of goods and services, to the customer.
Disaggregation of revenues from contracts with customers for the three and nine months ended December 31, 2023 and 2022 is as follows:
Three Months Ended December 31, 2023 Three Months Ended December 31, 2022
Revenues recognized at point in time Revenues recognized over time Total Revenues recognized at point in time Revenues recognized over time Total
United States and Latin America $ 39,881  $ 32,823  $ 72,704  $ 34,762  $ 24,988  $ 59,750 
Canada 30,659  10,455  41,114  32,725  10,446  43,171 
Europe, Middle East and Africa 7,366  5,119  12,485  6,643  4,582  11,225 
Asia-Pacific 7,606  2,518  10,124  4,268  3,696  7,964 
Total revenues $ 85,512  $ 50,915  $ 136,427  $ 78,398  $ 43,712  $ 122,110 
Nine months ended December 31, 2023 Nine months ended December 31, 2022
Revenues recognized at point in time Revenues recognized over time Total Revenues recognized at point in time Revenues recognized over time Total
United States and Latin America $ 101,515  $ 88,482  $ 189,997  $ 82,627  $ 70,150  $ 152,777 
Canada 80,806  31,780  112,586  83,512  26,638  110,150 
Europe, Middle East and Africa 20,577  14,996  35,573  17,811  12,993  30,804 
Asia-Pacific 20,393  8,426  28,819  15,565  8,813  24,378 
Total revenues $ 223,291  $ 143,684  $ 366,975  $ 199,515  $ 118,594  $ 318,109 
Performance Obligations
    At December 31, 2023, revenues to be recorded associated with our open performance obligations totaled $158,823. Within this amount, approximately $13,588 will be earned as revenue in excess of one year. We expect to recognize the remaining revenues associated with unsatisfied or partially satisfied performance obligations within the next 12 months.
Contract Assets and Liabilities
    As of December 31, 2023 and March 31, 2023, contract assets were $19,397 and $16,272, respectively. As of December 31, 2023 and March 31, 2023, contract liabilities were $15,414 and $8,483, respectively. We typically recognize revenue associated with our contract liabilities within 12 months.