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REVENUE RECOGNITION
 9 Months Ended
Sep. 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 were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
(In thousands)
Primary geographical markets:
United States$349,982 $284,033 $884,550 $632,719 
International
60,445 96,840 245,114 314,951 
Total$410,427 $380,873 $1,129,664 $947,670 
Timing of revenue recognition:
Products delivered at a point in time$383,001 $348,669 $1,034,952 $854,406 
Products and services delivered over time27,426 32,204 94,712 93,264 
Total$410,427 $380,873 $1,129,664 $947,670 
Contract Balances
Accounts receivable, and contract assets and contract liabilities from contracts with customers, were as follows:
September 30,
2025		December 31,
2024
(In thousands)
Accounts receivable$265,513 $223,749 
Long-term accounts receivable (Other assets)15,297 — 
Short-term contract assets (Prepaid expenses and other current assets)34,659 42,001 
Long-term contract assets (Other assets)112,268 110,954 
Short-term contract liabilities (Deferred revenues, current)111,493 237,225 
Long-term contract liabilities (Deferred revenues, non-current)345,710 341,982 
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 nine months ended September 30, 2025.
Significant changes in the balances of contract assets (prepaid expenses and other assets) as of September 30, 2025 were as follows (in thousands):
Contract Assets
Contract assets, beginning of period$152,955 
Amount recognized(26,144)
Increased due to billings20,116 
Contract assets, end of period$146,927 
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 revenue) as of September 30, 2025 were as follows (in thousands):
Contract Liabilities
Contract liabilities, beginning of period$579,207 
Revenue recognized(204,984)
Increased due to billings82,980 
Contract liabilities, end of period$457,203 
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 were as follows:
September 30,
2025
(In thousands)
Fiscal year:
2025 (remaining three months)$28,936 
2026109,542 
2027101,155 
202888,202 
202970,858 
Thereafter58,510 
Total$457,203