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REVENUE
3 Months Ended
Mar. 31, 2025
REVENUE [Abstract]  
REVENUE
NOTE 2 – REVENUE
 
Contract Assets and Liabilities
The tables below disclose changes in contract assets and liabilities for the three months ended March 31, 2025 and 2024.

Contract Assets
 
March 31,
2025
   
March 31,
2024
 
Contract assets, beginning of period
 
$
24,145
   
$
9,654
 
Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional
   
(13,018
)
   
(7,899
)
Contract assets recognized, net of reclassification to receivables
   
19,941
     
16,264
 
Contract assets, end of period
 
$
31,068
   
$
18,019
 

Contract Liabilities
           
Contract liabilities, beginning of period
 
$
20,044
   
$
12,979
 
Reclassification of the beginning contract liabilities to receivables, as the result of performance obligations being satisfied
   
(4,637
)
   
(2,858
)
Cash received in advance and not recognized in revenue
   
4,127
     
2,036
 
Contract liabilities, end of period
 
$
19,534
   
$
12,157
 

The aggregate amount of the transaction price allocated to remaining performance obligations in existing contracts that are yet to be completed in the North America and Europe and Rest of the World (“ROW”) segments are $483,395 and $205,871 respectively.

For performance obligations that are satisfied over time, revenue is expected to be recognized over the period to complete the contract. For performance obligations that are satisfied at a point in time, revenue is expected to be recognized when the customer obtains control of the product, which is generally upon shipment from our facility. No amounts have been excluded from the transaction prices above related to the guidance on constraining estimates of variable consideration.

In the following tables, revenue is disaggregated by primary geographical market and timing of revenue recognition. The tables also include a reconciliation of the disaggregated revenue with the reportable segments.

   
Three Months Ended March 31, 2025
 
   
New Business
   
After Sales
   
Total
 
Primary geographical markets
                 
North America
 
$
130,256
   
$
17,035
   
$
147,291
 
Europe and ROW
   
72,652
     
29,243
     
101,895
 
Total Sales
 
$
202,908
   
$
46,278
   
$
249,186
 
                         
Timing of revenue recognition
                       
Products transferred at a point in time
 
$
141,369
   
$
40,723
   
$
182,092
 
Products and services transferred over time
   
61,539
     
5,555
     
67,094
 
Total Sales
 
$
202,908
   
$
46,278
   
$
249,186
 

   
Three Months Ended March 31, 2024
 
   
New Business
   
After Sales
   
Total
 
Primary geographical markets
                 
North America
 
$
128,738
   
$
16,229
   
$
144,967
 
Europe and ROW
   
84,141
     
29,693
     
113,834
 
Total Sales
 
$
212,879
   
$
45,922
   
$
258,801
 
                         
Timing of revenue recognition
                       
Products transferred at a point in time
 
$
155,043
   
$
40,716
   
$
195,759
 
Products and services transferred over time
   
57,836
     
5,206
     
63,042
 
Total Sales
 
$
212,879
   
$
45,922
   
$
258,801