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REVENUE
3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Disaggregation of Revenue
The following table provides information on the disaggregation of revenue as recorded in the condensed consolidated statements of operations (in thousands):
Three Months Ended
March 31,
20232022
Hardware revenue$52,732$31,123
Services and other revenue14,6739,965
Total revenue
$67,405$41,088
The following table summarizes reportable revenue by geographic regions determined based on the location of the customers (in thousands):
Three Months Ended
March 31,
20232022
United States$65,330 $39,458 
Rest of the world2,075 1,630 
Total revenue$67,405 $41,088 
Remaining Performance Obligations
Remaining performance obligations represent contracted revenue that has not been recognized, which include contract liabilities (deferred revenue) and amounts that will be billed and recognized as revenue in future periods. As of March 31, 2023, the Company had $541.1 million of remaining performance obligations, and the approximate percentages expected to be recognized as revenue in the future are as follows (in thousands, except percentages):
Total Remaining
Performance
Obligations
Percent Expected to be Recognized as Revenue
Less Than
One Year
Two to
Five Years
Greater Than
Five Years
Services and other revenue$327,149 14 %48 %38 %
Hardware revenue213,993 100 %— %— %
Total revenue$541,142 
Contract Balances
Deferred revenue primarily includes cash received in advance of revenue recognition related to energy optimization services and incentives. The following table presents the changes in the deferred revenue balance during the three months ended March 31, 2023 and 2022 (in thousands):
Three Months Ended March 31,
20232022
Beginning balance$138,074 $37,443 
Deferred revenue acquired upon business combination— 49,626 
Upfront payments received from customers30,700 35,050 
Upfront or annual incentive payments received1,275 2,895 
Revenue recognized related to amounts that were included in beginning balance of deferred revenue(8,463)(2,938)
Revenue recognized related to amounts that were included in acquired balance of deferred revenue— (3,338)
Revenue recognized related to deferred revenue generated during the period(13,591)(13,965)
Ending balance$147,995 $104,773