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Revenue | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Disaggregation of Revenu e The following table summarizes net sales by end market:
(in thousands) |  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
End Market |  | 2025 |  | 2024 |  | 2025 |  | 2024
Power Systems |  | $ | 169,370 |  |  | $ | 84,111 |  |  | $ | 432,980 |  |  | $ | 219,160 |
Industrial |  | 28,105 |  |  | 32,774 |  |  | 81,492 |  |  | 93,031 |
Transportation |  | 6,354 |  |  | 8,957 |  |  | 16,710 |  |  | 19,477 |
Total |  | $ | 203,829 |  |  | $ | 125,842 |  |  | $ | 531,182 |  |  | $ | 331,668 |
The following table summarizes net sales by geographic area:
(in thousands) |  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
Geographic Area |  | 2025 |  | 2024 |  | 2025 |  | 2024
United States |  | $ | 193,053 |  |  | $ | 113,533 |  |  | $ | 499,653 |  |  | $ | 294,295 |
North America (outside of United States) |  | 4,187 |  |  | 5,824 |  |  | 14,468 |  |  | 16,127 |
Pacific Rim |  | 5,703 |  |  | 5,595 |  |  | 14,131 |  |  | 17,416 |
Europe |  | 882 |  |  | 890 |  |  | 2,704 |  |  | 3,781 |
Other |  | 4 |  |  | — |  |  | 226 |  |  | 49 |
Total |  | $ | 203,829 |  |  | $ | 125,842 |  |  | $ | 531,182 |  |  | $ | 331,668 |
Contract Balances Most of the Company’s contracts are for a period of less than one year; however, extended warranty contracts extend beyond one year. The timing of revenue recognition may differ from the time of invoicing to customers and these timing differences result in contract assets, or contract liabilities on the Company’s Consolidated Balance Sheets. Contract assets include amounts related to the contractual right to consideration for completed performance when the right to consideration is conditional. The Company records contract liabilities when cash payments are received or due in advance of performance. The fair value of noncash consideration of parts provided by customers is recorded in contract liabilities. Contract assets and contract liabilities are recognized at the contract level.
(in thousands) |  | As of September 30, 2025 |  | As of December 31, 2024 |  | As of December 31, 2023
Short-term contract assets (included in Contract assets) |  | $ | 13,265 |  |  | $ | 21,462 |  |  | $ | 15,554 |
Short-term contract liabilities (included in Other accrued liabilities) |  | (12,525) |  |  | (10,184) |  |  | (2,741) |
Long-term contract liabilities (included in Noncurrent contract liabilities) |  | (1,733) |  |  | (1,877) |  |  | (2,401) |
Net contract assets (liabilities) |  | $ | (993) |  |  | $ | 9,401 |  |  | $ | 10,412 |
During the nine months ended September 30, 2025 and 2024, the Company recognized $10.6 million and $1.4 million, respectively, of revenue upon satisfaction of performance obligations related to amounts that were included in the net contract liabilities balan ce as of December 31, 2024 and 2023, respectively. During the three months ended September 30, 2025 and 2024, the Company recognized $1.7 million and $0.7 million, respectively, of revenue upon satisfaction of performance obligations related to amounts that were included in the net contract liabilities balan ce as of June 30, 2025 and 2024, respectively. Remaining Performance Obligations The Company has elected the practical expedient to not disclose remaining performance obligations that have expected original durations of one year or less. For performance obligations that extend beyond one year, the Company had $2.1 million of remaining performance obligations as of September 30, 2025, primarily related to extended warranties. The Company expects to recognize revenue related to these remaining performance obligations of approximately $0.2 million in the remainder of 2025, $0.2 million in 2026, $1.5 million in 2027, $0.2 million in 2028, and none in 2029 and beyond.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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