Quarterly report [Sections 13 or 15(d)]

Revenue

v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenues
The Company's revenues are derived from the delivery of products to its customers and from services performed for commercial and government customers.
A summary of revenues by customer for the three months ended March 31, 2026 and 2025 is as follows (in thousands):
Three months ended March 31,
2026
2025
Commercial $ 320,323  $ 254,953 
Government
 4,257  1,092 
     Total $ 324,580  $ 256,045 


A summary of revenues by type for the three months ended March 31, 2026 and 2025 is as follows (in thousands):
Three months ended March 31,
2026 2025
Repair
 $ 122,230  $ 95,494 
Distribution
 202,350  160,551 
     Total $ 324,580  $ 256,045 

Contract Balances

Contract balances were as follows (in thousands):
March 31, December 31,
Financial Statement Classification 2026 2025
Billed and billable receivables
Receivables, net
 $ 216,504  $ 190,732 
Contract assets - unbilled receivables
Contract assets
 $ 45,723  $ 41,468 
Contract liabilities Accrued expenses and other current liabilities $ 9,381  $ 6,891 
During the three months ended March 31, 2026 and 2025, the Company recognized revenue that was previously included in the beginning balance of contract liabilities of $3.3 million and $2.4 million, respectively.