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Related Parties
 3 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
Related Parties
Note 13: Related Parties
The Company has transactions with related parties as summarized below.
Rentals and Sales — The Company rents and sells equipment and provides services to R&M Equipment Rental, a business partially owned by members of the Company’s management. The Company also rents equipment and purchases inventory from R&M Equipment Rental.
Other — The Company has purchased aircraft charter services from entities owned by members of the Company’s management and their immediate families. Charter services payments related to these transactions are immaterial. Air travel expenses are recorded in selling, general, and administrative expenses.
Management Fees — The Company is obligated under a Corporate Advisory Services Agreement with Platinum, under which management fees are payable to Platinum quarterly. The management fees are recorded in transaction expenses and other in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss).
A summary of the transactions with the foregoing related parties included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) is as follows:
Three Months Ended March 31,
(in $000s)20242023
Total revenues from transactions with related parties$3,677 $8,455 
Expenses incurred from transactions with related parties included in cost of revenue$466 $358 
Expenses incurred from transactions with related parties included in operating expenses$1,273 $1,395 
Amounts receivable from/payable to related parties included in the Condensed Consolidated Balance Sheets are as follows:
(in $000s)March 31, 2024December 31, 2023
Accounts receivable from related parties$1,904 $695 
Accounts payable to related parties$179 $140