Revenue (Tables)

3 Months Ended

Mar. 31, 2025

The following table summarizes the Company’s sales by major product and service line for the periods presented:


	Three Months Ended March 31,
	2025		2024
Rail Products	$	29,319	$	53,038
Global Friction Management	15,563		14,022
Technology Services and Solutions	9,133		15,563
Rail, Technologies, and Services	54,015		82,623
Precast Concrete Products	28,204		21,091
Steel Products	15,573		20,606
Infrastructure Solutions	43,777		41,697
Total net sales	$	97,792	$	124,320

Net sales by the timing of the transfer of goods and services was as follows for the periods presented:


	Three Months Ended March 31, 2025
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	44,925	$	28,627	$	73,552
Over time	9,090		15,150		24,240
Total net sales	$	54,015	$	43,777	$	97,792

	Three Months Ended March 31, 2024
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	65,539	$	29,657	$	95,196
Over time	17,084		12,040		29,124
Total net sales	$	82,623	$	41,697	$	124,320

Revenue recognized over time was as follows for the periods presented:


	Three Months Ended March 31,				Percentage of Total Net Sales Three Months Ended March 31,
	2025		2024		2025		2024
Over time input method	$	7,742	$	13,143	7.9	%	10.6	%
Over time output method	16,498		15,981		16.9		12.9
Total over time sales	$	24,240	$	29,124	24.8	%	23.4	%

The following table sets forth the Company’s contract assets:


	Contract Assets
Balance as of December 31, 2024	$	16,720
Net additions to contract assets	1,935
Transfers from contract asset balance to accounts receivable	(5,296)
Balance as of March 31, 2025	$	13,359

The following table sets forth the Company’s contract liabilities:


	Contract Liabilities
Balance as of December 31, 2024	$	1,991
Revenue recognized from contract liabilities	(798)
Increase in billings in excess of cost, excluding revenue recognized	599

Balance as of March 31, 2025	$	1,792