v3.25.1

Revenue Recognition (Tables) | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Disaggregation of revenue | The following table disaggregates our revenue by type of service (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Contract operations revenue |  |  |  |  | $ | 239,667 |  |  | $ | 223,780 |
Retail parts and services revenue |  |  |  |  | 5,567 |  |  | 5,496 |
Total revenues |  |  |  |  | $ | 245,234 |  |  | $ | 229,276 |
The following table disaggregates our revenue by timing of provision of services or transfer of goods (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Services provided over time: |  |  |  |  |  |  |
Primary term |  |  |  |  | $ | 194,533 |  |  | $ | 190,433 |
Month-to-month |  |  |  |  | 45,134 |  |  | 33,347 |
Total services provided over time |  |  |  |  | 239,667 |  |  | 223,780 |
Services provided or goods transferred at a point in time |  |  |  |  | 5,567 |  |  | 5,496 |
Total revenues |  |  |  |  | $ | 245,234 |  |  | $ | 229,276 |
Summary of deferred revenue | Components of deferred revenue were as follows (in thousands):
| Balance sheet location |  | March 31, 2025 |  | December 31, 2024
Current (1) | Deferred revenue |  | $ | 63,790 |  |  | $ | 63,900 |
Noncurrent | Other liabilities |  | 6,075 |  |  | 6,616 |
Total |  |  | $ | 69,865 |  |  | $ | 70,516 |
________________________________ (1)We recognized $60.7 million of revenue during the three months ended March 31, 2025 related to our deferred revenue balance as of December 31, 2024.
Expected timing of recognizing remaining performance obligations | We expect to recognize these remaining performance obligations as follows (in thousands):
| 2025 (remainder) |  | 2026 |  | 2027 |  | 2028 |  | Thereafter |  | Total
Remaining performance obligations | $ | 473,478 |  |  | $ | 396,154 |  |  | $ | 212,149 |  |  | $ | 82,367 |  |  | $ | 19,463 |  |  | $ | 1,183,611 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(1) -SubTopic 10 -Topic 606 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 + Details
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