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Revenue Recognition
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition
Note 4 – Revenue Recognition

Disaggregation of Revenue

The Company’s revenue is primarily comprised of product sales to customers. The Company has disaggregated revenue by geographic area and by segment as it most reasonably depicts the amount, timing and uncertainty of revenue and cash flows generated from our contracts with customers. Disaggregated consolidated revenue by geographic area (based on the location to which the product is shipped to):
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2025202420252024
United States$378,291 $357,164 $1,106,561 $1,041,059 
Canada78,597 55,912 220,564 116,278 
Europe18,295 13,853 48,247 44,700 
Pacific Rim8,510 4,958 23,903 13,447 
Latin America31,055 33,560 89,534 100,740 
Other3,782 2,987 11,422 8,895 
Intersegment revenue elimination(572)(415)(1,807)(1,478)
Total revenue$517,958 $468,019 $1,498,424 $1,323,641 

See Note 14 – Segment Information for disaggregation of revenue by segment.

Rental Revenue

TestEquity rents new and used electronic test and measurement equipment to customers in multiple industries. Lawson leases parts washer machines to customers. This leased equipment is included in Rental equipment, net in the Unaudited Condensed Consolidated Balance Sheets, and rental revenue is included in Revenue in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The unearned rental revenue related to customer prepayments on equipment leases was nominal at September 30, 2025 and December 31, 2024.
Rental revenue from operating leases:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2025202420252024
Revenue from operating leases$6,485 $4,115 $19,715 $12,525