REVENUE

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Disaggregation of revenue. Essentially all of our revenues are associated with contracts with customers. A disaggregation of our revenue from customer contracts by geographic region, by reportable operating segment and by service type is presented below:

Geographic area (in thousands):

	Three Months Ended September 30, 2024						Three Months Ended September 30, 2023
	(unaudited)						(unaudited)
	United States and Canada		Other Countries		Total		United States and Canada		Other Countries		Total
Revenue:
IHT	$	104,478	$	3,126	$	107,604	$	100,800	$	3,057	$	103,857
MS	68,393		34,761		103,154		67,286		35,572		102,858
Total	$	172,871	$	37,887	$	210,758	$	168,086	$	38,629	$	206,715

	Nine Months Ended September 30, 2024						Nine Months Ended September 30, 2023
	(unaudited)						(unaudited)
	United States and Canada		Other Countries		Total		United States and Canada		Other Countries		Total
Revenue:
IHT	$	310,985	$	9,301	$	320,286	$	312,344	$	10,082	$	322,426
MS	216,490		102,200		318,690		221,943		104,115		326,058
Total	$	527,475	$	111,501	$	638,976	$	534,287	$	114,197	$	648,484

Revenue by Operating segment and service type (in thousands):

	Three Months Ended September 30, 2024
	(unaudited)
	Non-Destructive Evaluation and Testing Services		Repair and Maintenance Services		Heat Treating		Other		Total
Revenue:
IHT	$	83,461	$	2	$	18,036	$	6,105	$	107,604
MS	—		100,780		363		2,011		103,154
Total	$	83,461	$	100,782	$	18,399	$	8,116	$	210,758

	Three Months Ended September 30, 2023
	(unaudited)
	Non-Destructive Evaluation and Testing Services		Repair and Maintenance Services		Heat Treating		Other		Total
Revenue:
IHT	$	83,207	$	39	$	12,946	$	7,665	$	103,857
MS	—		101,624		55		1,179		102,858
Total	$	83,207	$	101,663	$	13,001	$	8,844	$	206,715

	Nine Months Ended September 30, 2024
	(unaudited)
	Non-Destructive Evaluation and Testing Services		Repair and Maintenance Services		Heat Treating		Other		Total
Revenue:
IHT	$	254,584	$	149	$	48,979	$	16,574	$	320,286
MS	—		312,516		718		5,456		318,690
Total	$	254,584	$	312,665	$	49,697	$	22,030	$	638,976

	Nine Months Ended September 30, 2023
	(unaudited)
	Non-Destructive Evaluation and Testing Services		Repair and Maintenance Services		Heat Treating		Other		Total
Revenue:
IHT	$	259,118	$	261	$	42,391	$	20,656	$	322,426
MS	—		323,484		544		2,030		326,058
Total	$	259,118	$	323,745	$	42,935	$	22,686	$	648,484

For additional information on our reportable operating segments, refer to Note 14 - Segment Disclosures.

As of September 30, 2024, we received $2.3 million of advance payments from a customer for equipment sales. This amount is recorded as a contract liability and included in Other accrued liabilities. See Note 8 - Other Accrued Liabilities for additional information. There was no contract liability as of December 31, 2023.

Remaining performance obligations. As permitted by ASC 606, Revenue from Contracts with Customers, we have elected not to disclose information about remaining performance obligations where (i) the performance obligation is part of a contract that has an original expected duration of one year or less or (ii) when we recognize revenue from the satisfaction of the performance obligation in accordance with the right-to-invoice practical expedient, which permits us to recognize revenue in the amount to which we have a right to invoice the customer if that amount corresponds directly with the value to the customer of our performance completed to date. As most of our contracts with customers are short-term in nature and billed on a time and material basis, there were no material amounts of remaining performance obligations as of September 30, 2024 and December 31, 2023.