REVENUE

6 Months Ended

Jun. 30, 2025

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 June 30, 2025
	(unaudited)
	United States		Canada		Other Countries		Total
Revenue:
IHT	$	111,987	$	15,112	$	3,297	$	130,396
MS	72,299		10,312		35,019		117,630
Total	$	184,286	$	25,424	$	38,316	$	248,026

	Three Months Ended June 30, 2024
	(unaudited)
	United States		Canada		Other Countries		Total
Revenue:
IHT	$	98,712	$	11,499	$	3,023	$	113,234
MS	67,828		11,299		36,257		115,384
Total	$	166,540	$	22,798	$	39,280	$	228,618

	Six Months Ended June 30, 2025
	(unaudited)
	United States		Canada		Other Countries		Total
Revenue:
IHT	$	208,384	$	22,224	$	6,003	$	236,611
MS	133,276		15,407		61,387		210,070
Total	$	341,660	$	37,631	$	67,390	$	446,681

	Six Months Ended June 30, 2024
	(unaudited)
	United States		Canada		Other Countries		Total
Revenue:
IHT	$	187,287	$	19,220	$	6,175	$	212,682
MS	132,130		15,967		67,439		215,536
Total	$	319,417	$	35,187	$	73,614	$	428,218

Operating segment and service type (in thousands):

	Three Months Ended June 30, 2025
	(unaudited)
	Non-Destructive Evaluation and Testing Services		Repair and Maintenance Services		Heat Treating		Other		Total
Revenue:
IHT	$	100,637	$	51	$	21,922	$	7,786	$	130,396
MS	—		117,054		149		427		117,630
Total	$	100,637	$	117,105	$	22,071	$	8,213	$	248,026

	Three Months Ended June 30, 2024
	(unaudited)
	Non-Destructive Evaluation and Testing Services		Repair and Maintenance Services		Heat Treating		Other		Total
Revenue:
IHT	$	90,113	$	2	$	17,459	$	5,660	$	113,234
MS	—		112,873		248		2,263		115,384
Total	$	90,113	$	112,875	$	17,707	$	7,923	$	228,618

	Six Months Ended June 30, 2025
	(unaudited)
	Non-Destructive Evaluation and Testing Services		Repair and Maintenance Services		Heat Treating		Other		Total
Revenue:
IHT	$	185,081	$	52	$	38,294	$	13,184	$	236,611
MS	—		208,341		338		1,391		210,070
Total	$	185,081	$	208,393	$	38,632	$	14,575	$	446,681

	Six Months Ended June 30, 2024
	(unaudited)
	Non-Destructive Evaluation and Testing Services		Repair and Maintenance Services		Heat Treating		Other		Total
Revenue:
IHT	$	171,123	$	147	$	30,943	$	10,469	$	212,682
MS	—		211,736		355		3,445		215,536
Total	$	171,123	$	211,883	$	31,298	$	13,914	$	428,218

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

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 June 30, 2025 and December 31, 2024.