XML 16 R10.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Revenue Recognition
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

3. Revenue Recognition

The Company attributes revenue to different geographic areas based on where items are shipped to or services are performed. The following table provides detail of revenues by geographic area for the three months ended March 31, 2024 and 2023.

 

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

United States

 

$

35,452

 

 

$

30,126

 

Italy

 

 

8,116

 

 

 

13,278

 

Canada

 

 

7,306

 

 

 

5,899

 

United Kingdom

 

 

3,857

 

 

 

1,863

 

Chile

 

 

3,682

 

 

 

4,544

 

France

 

 

1,653

 

 

 

2,259

 

Other

 

 

13,277

 

 

 

9,902

 

Total Revenue

 

$

73,343

 

 

$

67,871

 

 

Total Company Revenues by Sources

The sources of the Company’s revenues are summarized below for the three months ended March 31, 2024 and 2023.

 

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

Boom trucks, knuckle boom cranes

 

$

48,457

 

 

$

39,236

 

Aerial platforms

 

 

6,242

 

 

 

8,889

 

Part sales

 

 

6,346

 

 

 

7,192

 

Rentals

 

 

6,444

 

 

 

5,835

 

Services

 

 

600

 

 

 

1,117

 

Merchandise sales and other

 

 

933

 

 

 

978

 

Other equipment

 

 

4,321

 

 

 

4,624

 

Total Revenue

 

$

73,343

 

 

$

67,871

 

 

Customer Deposits

 

At times, the Company may require an upfront deposit related to its contracts. In instances where an upfront deposit has been received by the Company and the revenue recognition criteria have not yet been met, the Company records a contract liability in the form of a customer deposit, which is classified as a short-term liability on the Condensed Consolidated Balance Sheets. That customer deposit is revenue that is deferred until the revenue recognition criteria have been met, at which time, the customer deposit is recognized into revenue.

 

The following table summarizes changes in customer deposits for the three months ended March 31, as follows:

 

 

 

March 31,
2024

 

 

March 31,
2023

 

Customer deposits January 1,

 

$

2,384

 

 

$

3,407

 

Additional customer deposits received where revenue has not yet been
   recognized

 

 

4,285

 

 

 

1,937

 

Revenue recognized from customer deposits

 

 

(4,479

)

 

 

(2,639

)

Effect of change in exchange rates

 

 

(57

)

 

 

27

 

Total customer deposits

 

$

2,133

 

 

$

2,732