Revenue

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Disaggregation of Revenues

The Company's revenues are derived from the delivery of products to and services performed for its commercial and government customers.

A summary of revenues by customer for the three and six months ended June 30, 2025 and 2024 is as follows (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Commercial	$	271,288	$	191,296	$	526,241	$	349,280
Government	851		1,532		1,943		5,931
Total	$	272,139	$	192,828	$	528,184	$	355,211

A summary of revenues by type for the three and six months ended June 30, 2025 and 2024 is as follows (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2025		2024 (a)		2025		2024 (a)
Repair	$	98,536	$	77,380	$	194,030	$	131,740
Distribution	173,603		115,448		334,154		223,471
Total	$	272,139	$	192,828	$	528,184	$	355,211
(a) Certain revenue amounts in the prior year have been reclassified to conform to current presentation of revenue type categories.

Contract Balances

Contract balances were as follows (in thousands):

		June 30,		December 31,
	Financial Statement Classification	2025		2024
Billed and billable receivables	Receivables, net	$	183,208	$	158,104
Contract assets - unbilled receivables	Contract assets	$	34,043	$	29,960
Contract liabilities	Accrued expenses and other current liabilities	$	2,825	$	4,479

For the six months ended June 30, 2025 and 2024, the Company recognized revenue that was previously included in the beginning balance of contract liabilities of $3.0 million and $1.7 million, respectively.