Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.25.0.1
Revenue
 9 Months Ended
Dec. 31, 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. Revenue recognized over time occurs on our projects where engineering, manufactured materials, or installation services, or a combination of the three, 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 nine months ended December 31, 2024 and 2023 are as follows:
Three months ended December 31, 2024 Three months ended December 31, 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 $ 51,108  $ 16,064  $ 67,172  $ 39,881  $ 32,823  $ 72,704 
Canada 33,506  10,030  43,536  30,659  10,455  41,114 
Europe, Middle East and Africa 8,736  5,078  13,814  7,366  5,119  12,485 
Asia-Pacific 6,212  3,619  9,831  7,606  2,518  10,124 
Total revenues $ 99,562  $ 34,791  $ 134,353  $ 85,512  $ 50,915  $ 136,427 
Nine months ended December 31, 2024 Nine months ended December 31, 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 $ 140,122  $ 45,898  $ 186,020  $ 101,515  $ 88,482  $ 189,997 
Canada 81,547  37,205  118,752  80,806  31,780  112,586 
Europe, Middle East and Africa 18,303  12,381  30,684  20,577  14,996  35,573 
Asia-Pacific 18,635  10,036  28,671  20,393  8,426  28,819 
Total revenues $ 258,607  $ 105,520  $ 364,127  $ 223,291  $ 143,684  $ 366,975 
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 $21,975 as of December 31, 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 December 31, 2024 and March 31, 2024, contract assets were $16,052 and $16,690, respectively. As of December 31, 2024 and March 31, 2024, contract liabilities were $20,571 and $20,531, respectively. We typically recognize revenue associated with our contract liabilities within 12 months.