v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
11.
Revenue

The following table summarizes revenue recognized for each respective period, disaggregated by timing of recognition (point-in-time versus over-time) and by type of performance obligation:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Performance obligations satisfied at point in time

 

$

214,243

 

 

$

98,130

 

 

$

214,243

 

 

$

176,379

 

Performance obligations satisfied over time

 

 

2,170

 

 

 

40,076

 

 

 

22,495

 

 

 

72,531

 

Total

 

$

216,413

 

 

$

138,206

 

 

$

236,738

 

 

$

248,910

 

 

Substantially all of the Company’s revenue for the three and six months ended June 30, 2026 and 2025 was derived in Europe.

Contract liabilities consist of amounts received prior to satisfying the revenue recognition criteria, which are recorded as deferred revenue in the Company’s consolidated balance sheets.

The following table summarizes the changes in deferred revenue:

 

 

 

Six Months Ended June 30,

 

 

 

 

2026

 

 

2025

 

 

Balance, beginning of period

 

$

23,272

 

 

$

—

 

 

Deferral of revenue

 

 

320,587

 

 

 

252,763

 

 

Recognition of unearned revenue

 

 

(236,738

)

 

 

(248,910

)

 

Balance, end of period

 

$

107,121

 

 

$

3,853