v3.25.2
REVENUE RECOGNITION
 12 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
The following table presents the Company’s revenues disaggregated by revenue source for the years ended December 31, 2022 and 2023, the three months ended March 31, 2024, and the year ended March 31, 2025 (in thousands):

Year Ended
December 31,		Three Months Ended
March 31,		Year Ended March 31,
2022202320242025
Products$56,945 $49,741 $12,080 $85,584 
Services78,967 83,995 21,660 276,931 
$135,912 $133,736 $33,740 $362,515 
The balances of contract assets and contract liabilities from contracts with customers are as follows as of March 31, 2024 and 2025 (in thousands):

March 31,
20242025
Contract Assets:
Deferred contract cost (1)
$2,632 $11,894 
Deferred costs - current$42 $2 
Contract Liabilities:
Deferred revenue – services (2)
$10,674 $21,466 
Deferred revenue – products (2)
60 1,106 
10,734 22,572 
Less: Deferred revenue – current(5,842)(17,375)
Deferred revenue – long term$4,892 $5,197 
(1) Deferred Contract costs are included in Other assets on the Consolidated Balance Sheet.
(2) The Company records deferred revenues when cash payments are received or due in advance of the Company’s performance. For the years ended December 31, 2022 and 2023, the three months ended March 31, 2024, and the year ended March 31, 2025, the Company recognized revenue of $5,929, $6,046, $1,975 and $4,666, respectively, which was included in the deferred revenue balance at the beginning of each reporting period. The Company expects to recognize as revenue through year 2030, when it transfers those goods and services and, therefore, satisfies its performance obligation to the customers.