v3.26.1
Revenue Recognition
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition
3. Revenue Recognition
The following table disaggregates the Company’s revenue by type and timing of provision of services or transfer of goods:
Three Months Ended
March 31,
(in thousands)
20262025
Services provided over time:
Contract Services$306,985 $288,956 
Other Services15,472 17,516 
Total services provided over time322,457 306,472 
Services provided or goods transferred at a point in time:
Contract Services— — 
Other Services23,302 23,170 
Total services provided or goods transferred at a point in time23,302 23,170 
Total revenue$345,759 $329,642 
Contract Assets and Liabilities
The Company recognizes a contract asset when the Company has the right to consideration in exchange for goods or services transferred to a customer. Contract assets are transferred to trade receivables when the Company has the right to
bill. The Company had contract assets of $7.7 million and $5.2 million as of March 31, 2026, and December 31, 2025, respectively. As of January 1, 2026 and 2025, the beginning balances for contract assets were $5.2 million and $7.6 million, respectively.
The Company records contract liabilities when cash payments are received or due in advance of performance. The Company’s contract liabilities were $92.4 million and $94.5 million as of March 31, 2026, and December 31, 2025, respectively. As of January 1, 2026, and 2025, the beginning balances for contract liabilities were $94.5 million and $73.1 million, all of which was recognized as revenue in the three months ended March 31, 2026, and 2025, respectively.
Performance Obligations
As of March 31, 2026, we had $1.6 billion of remaining performance obligations related to our Contract Services segment.
The Company expects to recognize these remaining performance obligations as follows:
(in thousands)Remainder of
2026		2027202820292030ThereafterTotal
Remaining performance obligations$689,426 $594,757 $251,113 $63,249 $23,636 $10,745 $1,632,926 
As of March 31, 2026, the aggregate amount of transaction price allocated to unsatisfied performance obligations related to the Company’s revenue for the Other Services segment is $31.4 million, all of which is expected to be recognized by December 31, 2026