Revenue Recognition (Tables)
|
9 Months Ended |
Dec. 31, 2023 |
|---|
| Revenue Recognition |
|
| Schedule of disaggregated revenue by business group |
The following table presents disaggregated revenue by business group (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
Nine Months Ended December 31, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Microturbine Products |
|
$ |
5,078 |
|
$ |
10,027 |
|
$ |
32,553 |
|
$ |
28,775 |
Accessories |
|
|
87 |
|
|
1,116 |
|
|
911 |
|
|
1,760 |
Total Product and Accessories |
|
|
5,165 |
|
|
11,143 |
|
|
33,464 |
|
|
30,535 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Parts and Services |
|
|
6,603 |
|
|
7,500 |
|
|
23,906 |
|
|
23,940 |
Rentals |
|
|
2,832 |
|
|
2,368 |
|
|
9,501 |
|
|
5,425 |
Total Revenue |
|
$ |
14,600 |
|
$ |
21,011 |
|
$ |
66,871 |
|
$ |
59,900 |
|
| Summary of disaggregated revenue by geography based on the primary operating location of the Company's customers |
The following table presents disaggregated revenue by geography based on the primary operating location of the Company’s customers (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
Nine Months Ended December 31, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
United States |
|
$ |
8,032 |
|
$ |
15,897 |
|
$ |
36,879 |
|
$ |
38,612 |
Mexico |
|
|
1,310 |
|
|
450 |
|
|
4,553 |
|
|
1,504 |
All other North America |
|
|
526 |
|
|
69 |
|
|
1,213 |
|
|
1,298 |
Total North America |
|
|
9,868 |
|
|
16,416 |
|
|
42,645 |
|
|
41,414 |
Russia |
|
|
— |
|
|
536 |
|
|
— |
|
|
2,184 |
All other Europe |
|
|
2,578 |
|
|
2,257 |
|
|
13,898 |
|
|
8,803 |
Total Europe |
|
|
2,578 |
|
|
2,793 |
|
|
13,898 |
|
|
10,987 |
Asia |
|
|
1,019 |
|
|
317 |
|
|
2,786 |
|
|
2,386 |
Australia |
|
|
850 |
|
|
1,076 |
|
|
4,179 |
|
|
2,478 |
All other |
|
|
285 |
|
|
409 |
|
|
3,363 |
|
|
2,635 |
Total Revenue |
|
$ |
14,600 |
|
$ |
21,011 |
|
$ |
66,871 |
|
$ |
59,900 |
|
| Schedule of changes in deferred revenue |
Changes in deferred revenue consisted of the following (in thousands):
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|
|
|
|
|
|
|
|
December 31, |
|
March 31, |
|
|
2023 |
|
2023 |
Opening balance, beginning of the year |
|
$ |
24,189 |
|
$ |
15,816 |
Closing balance, end of the period |
|
$ |
18,412 |
|
$ |
24,189 |
Revenue recognized during the year from: |
|
|
|
|
|
|
Amounts included in deferred revenue at the beginning of the year |
|
$ |
10,852 |
|
$ |
13,026 |
|