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Revenue Recognition
6 Months Ended
Jun. 30, 2021
Revenue From Contract With Customer [Abstract]  
Revenue Recognition

3. Revenue Recognition  

The following table disaggregates our revenue for the three and six months ended June 30, 2021 and 2020:

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Equipment sales

 

$

51,600

 

 

$

30,890

 

 

$

90,432

 

 

$

71,765

 

Part sales

 

 

7,265

 

 

 

5,668

 

 

 

14,468

 

 

 

12,836

 

Installation services

 

 

1,180

 

 

 

557

 

 

 

2,313

 

 

 

1,247

 

Total Revenue

 

$

60,045

 

 

$

37,115

 

 

$

107,213

 

 

$

85,848

 

 

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 and six months ended June 30, 2021 and 2020:

 

 

 

Three Months Ended

June 30,

 

 

 

Six Months Ended

June 30,

 

 

 

2021

 

 

2020

 

 

 

2021

 

 

2020

 

United States

 

 

24,384

 

 

$

16,518

 

 

 

$

41,822

 

 

$

40,991

 

Italy

 

 

9,839

 

 

 

4,448

 

 

 

 

16,552

 

 

 

9,781

 

Canada

 

 

5,450

 

 

 

1,333

 

 

 

 

8,325

 

 

 

3,813

 

Chile

 

 

3,118

 

 

 

1,262

 

 

 

 

6,338

 

 

 

3,347

 

France

 

 

2,688

 

 

 

2,310

 

 

 

 

6,454

 

 

 

5,093

 

Other

 

 

14,566

 

 

 

11,245

 

 

 

 

27,722

 

 

 

22,824

 

 

 

$

60,045

 

 

$

37,115

 

 

 

$

107,213

 

 

$

85,848

 

 

 

 

Total Company Revenues by Sources

The sources of the Company’s revenues are summarized below for the three and six months ended June 30, 2021 and 2020:

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Boom trucks, knuckle boom & truck cranes

 

$

44,653

 

 

$

27,156

 

 

$

77,879

 

 

$

61,943

 

Part sales

 

 

7,265

 

 

 

5,668

 

 

 

14,468

 

 

 

12,836

 

Rough terrain cranes

 

 

1,759

 

 

 

2,028

 

 

 

3,797

 

 

 

5,162

 

Other equipment

 

 

5,188

 

 

 

1,706

 

 

 

8,756

 

 

 

4,660

 

Installation services

 

 

1,180

 

 

 

557

 

 

 

2,313

 

 

 

1,247

 

Total Revenue

 

$

60,045

 

 

$

37,115

 

 

$

107,213

 

 

$

85,848

 

 

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 balance sheet.  That customer deposit 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 six months ended June 30 as follows:

 

 

 

June 30,

2021

 

 

June 30,

2020

 

Customer deposits

 

$

2,363

 

 

$

1,493

 

Additional customer deposits received where revenue has not yet been recognized

 

 

3,375

 

 

 

2,456

 

Revenue recognized from customer deposits

 

 

(2,613

)

 

 

(2,540

)

Effect of change in exchange rates

 

 

(93

)

 

 

(35

)

 

 

$

3,032

 

 

$

1,374