Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.23.3
Revenue
 6 Months Ended
Sep. 30, 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 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 goods or services, or a combination of goods and services, to the customer.
Disaggregation of revenues from contracts with customers for the three and six months ended September 30, 2023 and 2022 is as follows:
Three Months Ended September 30, 2023 Three Months Ended September 30, 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 $ 31,744  $ 32,053  $ 63,797  $ 24,749  $ 22,685  $ 47,434 
Canada 25,625  10,524  36,149  25,656  9,127  34,783 
Europe, Middle East and Africa 7,819  5,588  13,407  5,261  4,282  9,543 
Asia-Pacific 7,447  2,859  10,306  6,665  2,132  8,797 
Total revenues $ 72,635  $ 51,024  $ 123,659  $ 62,331  $ 38,226  $ 100,557 
Six months ended September 30, 2023 Six months ended September 30, 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 $ 61,635  $ 55,659  $ 117,294  $ 47,865  $ 45,162  $ 93,027 
Canada 50,147  21,325  71,472  50,787  16,191  66,978 
Europe, Middle East and Africa 13,212  9,876  23,088  11,168  8,411  19,579 
Asia-Pacific 12,786  5,908  18,694  11,297  5,118  16,415 
Total revenues $ 137,780  $ 92,768  $ 230,548  $ 121,117  $ 74,882  $ 195,999 
Performance Obligations
    At September 30, 2023, revenues to be recorded associated with our open performance obligations totaled $166,869. Within this amount, approximately $13,988 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 12 months.
Contract Assets and Liabilities
    As of September 30, 2023 and March 31, 2023, contract assets were $27,259 and $16,272, respectively. As of September 30, 2023 and March 31, 2023, contract liabilities were $7,261 and $8,483, respectively. We typically recognize revenue associated with our contract liabilities within 12 months.