Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.24.3
Revenue
 6 Months Ended
Sep. 30, 2024
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 revenue recognized at a point-in-time and revenues recognized over time, as we believe these best depict the nature of our sales and the regions in which those sales are earned and managed.
Revenue recognized at a point-in-time occurs based on when control transfers to the customer and is generally related to our product sales. Moreover, point-in-time revenue does not typically require engineering or installation services. Revenue recognized over time occurs on our projects where engineering or installation services, or a combination of the two, are required. We recognize revenue related to such projects in a systematic way that reflects the transfer of service to the customer.
Disaggregation of revenues from contracts with customers for the three and six months ended September 30, 2024 and 2023 are as follows:
Three months ended September 30, 2024 Three months ended September 30, 2023
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 $ 44,606  $ 14,258  $ 58,864  $ 31,744  $ 32,053  $ 63,797 
Canada 26,433  10,438  36,871  25,625  10,524  36,149 
Europe, Middle East and Africa 4,954  4,074  9,028  7,819  5,588  13,407 
Asia-Pacific 6,286  3,599  9,885  7,447  2,859  10,306 
Total revenues $ 82,279  $ 32,369  $ 114,648  $ 72,635  $ 51,024  $ 123,659 
Six months ended September 30, 2024 Six months ended September 30, 2023
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 $ 89,014  $ 29,834  $ 118,848  $ 61,635  $ 55,659  $ 117,294 
Canada 48,041  27,175  75,216  50,147  21,325  71,472 
Europe, Middle East and Africa 9,567  7,303  16,870  13,212  9,876  23,088 
Asia-Pacific 12,423  6,417  18,840  12,786  5,908  18,694 
Total revenues $ 159,045  $ 70,729  $ 229,774  $ 137,780  $ 92,768  $ 230,548 
Performance Obligations
    We have elected the practical expedient to disclose only the value of performance obligations for contracts with an original expected length of one year or more, which was $19,834 as of September 30, 2024. 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 September 30, 2024 and March 31, 2024, contract assets were $15,582 and $16,690, respectively. As of September 30, 2024 and March 31, 2024, contract liabilities were $13,402 and $20,531, respectively. We typically recognize revenue associated with our contract liabilities within 12 months.