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REVENUE RECOGNITION
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregated Revenue
The Company has one major business activity, which is the design, manufacture and sale of solutions for the solar photovoltaic (“PV”) industry. Disaggregated revenue by primary geographical market and timing of revenue recognition for the Company’s single product line are as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
(In thousands)
Primary geographical markets:
United States$271,330 $198,712 $534,568 $348,686 
International
91,823 104,746 184,669 218,111 
Total$363,153 $303,458 $719,237 $566,797 
Timing of revenue recognition:
Products delivered at a point in time$329,065 $272,592 $651,951 $505,737 
Products and services delivered over time34,088 30,866 67,286 61,060 
Total$363,153 $303,458 $719,237 $566,797 
Contract Balances
Accounts receivable, and contract assets and contract liabilities from contracts with customers, are as follows:
June 30,
2025		December 31,
2024
(In thousands)
Accounts receivable$223,218 $223,749 
Short-term contract assets (Prepaid expenses and other current assets)42,380 42,001 
Long-term contract assets (Other assets)105,217 110,954 
Short-term contract liabilities (Deferred revenues, current)129,040 237,225 
Long-term contract liabilities (Deferred revenues, non-current)331,531 341,982 
The Company receives payments from customers based upon contractual payment terms. Accounts receivable are recorded in an amount that reflects the consideration that is expected to be received in exchange for those goods or services when the right to consideration becomes unconditional.
Contract assets include deferred product costs and commissions associated with the deferred revenue and will be amortized along with the associated revenue. The Company had no asset impairment charges related to contract assets for the six months ended June 30, 2025.
Significant changes in the balances of contract assets (prepaid expenses and other assets) as of June 30, 2025 are as follows (in thousands):
Contract Assets
Contract Assets, beginning of period$152,955 
Amount recognized(18,406)
Increased due to billings13,048 
Contract Assets, end of period$147,597 
Contract liabilities are recorded as deferred revenue on the accompanying condensed consolidated balance sheets and include payments received in advance of performance obligations under the contract and are realized when the associated revenue is recognized under the contract.
Significant changes in contract liabilities (deferred revenues) as of June 30, 2025 are as follows (in thousands):
Contract Liabilities
Contract Liabilities, beginning of period$579,207 
Revenue recognized(177,558)
Increased due to billings58,922 
Contract Liabilities, end of period$460,571 
Remaining Performance Obligations
Estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period are as follows:
June 30,
2025
(In thousands)
Fiscal year:
2025 (remaining six months)$67,328 
2026119,810 
202799,228 
202877,710 
202952,577 
Thereafter43,918 
Total$460,571