v3.25.2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Summary of Disaggregation of Revenue
The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended June 30, 2025:
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherTotal
Project revenue$174,287 $37,459 $7,983 $138,359 $— $358,088 
O&M revenue10,474 15,063 1,762 656 — 27,955 
Energy assets22,669 6,780 33,071 389 — 62,909 
Other3,755 342 3 2,480 16,752 23,332 
Total revenues$211,185 $59,644 $42,819 $141,884 $16,752 $472,284 
The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended June 30, 2024:
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherTotal
Project revenue$178,742 $68,080 $13,884 $70,064 $(7)$330,763 
O&M revenue8,511 14,628 2,136 895 — 26,170 
Energy assets19,746 3,724 29,728 189 29 53,416 
Other1,132 305 104 1,911 24,181 27,633 
Total revenues$208,131 $86,737 $45,852 $73,059 $24,203 $437,982 
The following table presents our revenue disaggregated by line of business and reportable segment for the six months ended June 30, 2025:
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherTotal
Project revenue$323,240 $43,497 $12,046 $230,766 $— $609,549 
O&M revenue18,930 28,793 3,777 1,301 — 52,801 
Energy assets41,639 12,137 65,168 658 — 119,602 
Other5,636 464 3 5,816 31,242 43,161 
Total revenues$389,445 $84,891 $80,994 $238,541 $31,242 $825,113 
The following table presents our revenue disaggregated by line of business and reportable segment for the six months ended June 30, 2024:
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherTotal
Project revenue$294,953 $111,559 $17,047 $111,488 $535,047 
O&M revenue15,444 29,906 4,513 1,642 — 51,505 
Energy assets33,500 5,653 57,028 360 29 96,570 
Other2,519 509 123 3,691 46,424 53,266 
Total revenues$346,416 $147,627 $78,711 $117,181 $46,453 $736,388 
The following table presents information related to our revenue recognized over time:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Percentage of revenue recognized over time96%96%96%95%
The remainder of our revenue is for products and services transferred at a point in time, at which point revenue is recognized.
We attribute revenues to customers based on the location of the customer. The following table presents information related to our revenues by geographic area:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
United States$301,923 $349,500 $534,536 $588,599 
Canada28,417 15,416 51,968 30,596 
Europe141,944 73,066 238,609 117,193 
Total revenues$472,284 $437,982 $825,113 $736,388 
Summary of Contract with Customer, Asset and Liability
The following tables provide information about receivables, contract assets and contract liabilities from contracts with customers:
 June 30, 2025December 31, 2024
Accounts receivable, net$245,852 $256,961 
Accounts receivable retainage, net47,826 39,843 
Contract Assets:
Unbilled revenue$592,871 $644,105 
Contract Liabilities:
Deferred revenue$96,448 $91,734 
Deferred revenue, non-current (1)
34,717 29,885 
Total contract liabilities$131,165 $121,619 
June 30, 2024December 31, 2023
Accounts receivable, net$154,665 $153,362 
Accounts receivable retainage, net39,225 33,826 
Contract Assets:
Unbilled revenue$651,748 $636,163 
Contract Liabilities:
Deferred revenue$97,493 $52,903 
Deferred revenue, non-current (1)
20,340 18,393 
Total contract liabilities$117,833 $71,296 
(1) Performance obligations that are expected to be completed beyond the next twelve months and are included in other liabilities in the condensed consolidated balance sheets.