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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Business Combination, Recognized Asset Acquired and Liability Assumed | The final purchase price allocation is as follows (in thousands):
Receivables |  | $ | 9,122 |
Contract assets |  | 16,193 |
Inventories |  | 5,512 |
Prepaid expenses and other current assets |  | 570 |
Other assets |  | 214 |
Property and equipment, net |  | 6,434 |
Intangible asset - customer related |  | 59,000 |
Goodwill |  | 40,201 |
Operating lease right-of-use assets |  | 7,832 |
Total assets acquired |  | 145,078 |
Accounts payable |  | (9,764) |
Accrued expense and other current liabilities |  | (5,624) |
Long-term operating lease obligations |  | (7,339) |
Total liabilities assumed |  | (22,727) |
Net assets acquired, excluding cash |  | $ | 122,351 |
Cash consideration, net of cash acquired |  | $ | 112,351 |
VSE common stock, at fair value |  | 10,000 |
Total |  | $ | 122,351 |
The adjusted preliminary purchase price is as follows (in thousands):
Receivables |  | $ | 27,379 |
Contract assets |  | 2,925 |
Inventories |  | 37,686 |
Prepaid expenses and other current assets |  | 2,723 |
Property and equipment, net |  | 10,301 |
Intangible asset - customer related |  | 41,900 |
Goodwill |  | 87,771 |
Operating lease right-of-use assets |  | 14,141 |
Deferred tax assets |  | 8,243 |
Total assets acquired |  | 233,069 |
Accounts payable |  | (27,750) |
Accrued expense and other current liabilities |  | (6,153) |
Long-term operating lease obligations |  | (10,300) |
Total liabilities assumed |  | (44,203) |
Net assets acquired, excluding cash |  | $ | 188,866 |
Cash consideration, net of cash acquired |  | $ | 168,599 |
VSE common stock, at fair value |  | 20,267 |
Total |  | $ | 188,866 |
Business Combination, Pro Forma Information | The unaudited consolidated pro forma results of operations are as follows (in thousands):
| Three months ended June 30, |  | Six months ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenue | $ | 272,139 |  |  | $ | 199,940 |  |  | $ | 528,184 |  |  | $ | 386,993 |
Income (loss) from continuing operations | $ | 13,638 |  |  | $ | (5,407) |  |  | $ | 27,606 |  |  | $ | 859 |
The unaudited consolidated pro forma results of operations are as follows (in thousands):
| Three months ended June 30, |  | Six months ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenue | $ | 272,139 |  |  | $ | 243,102 |  |  | $ | 528,184 |  |  | $ | 443,860 |
Income (loss) from continuing operations | $ | 13,638 |  |  | $ | (4,972) |  |  | $ | 28,199 |  |  | $ | 2,474 |

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