XML 35 R28.htm IDEA: XBRL DOCUMENT
v3.24.3

Revenue (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Summary of Revenues Disaggregation | The following tables present our revenues disaggregated by category and by geography:
|  | Three Months Ended September 30, 2024 |  |  | Three Months Ended September 30, 2023 |
(in thousands) |  | NAM |  |  | INTL & Offshore |  |  | Total |  |  | NAM |  |  | INTL & Offshore |  |  | Total |
Product revenues |  | $ | 79,668 |  |  | $ | 46,975 |  |  | $ | 126,643 |  |  | $ | 76,050 |  |  | $ | 39,751 |  |  | $ | 115,801 |
Service revenues |  |  | 13,411 |  |  |  | 2,363 |  |  |  | 15,774 |  |  |  | 13,891 |  |  |  | 1,109 |  |  |  | 15,000 |
Rental revenues |  |  | 5,228 |  |  |  | 4,172 |  |  |  | 9,400 |  |  |  | 2,389 |  |  |  | 5,896 |  |  |  | 8,285 |
Total revenues |  | $ | 98,307 |  |  | $ | 53,510 |  |  | $ | 151,817 |  |  | $ | 92,330 |  |  | $ | 46,756 |  |  | $ | 139,086 |
|  | Nine Months Ended September 30, 2024 |  |  | Nine Months Ended September 30, 2023 |
(in thousands) |  | NAM |  |  | INTL & Offshore |  |  | Total |  |  | NAM |  |  | INTL & Offshore |  |  | Total |
Product revenues |  | $ | 211,405 |  |  | $ | 131,917 |  |  | $ | 343,322 |  |  | $ | 228,901 |  |  | $ | 124,263 |  |  | $ | 353,164 |
Service revenues |  |  | 37,698 |  |  |  | 5,976 |  |  |  | 43,674 |  |  |  | 43,177 |  |  |  | 3,426 |  |  |  | 46,603 |
Rental revenues |  |  | 9,182 |  |  |  | 13,938 |  |  |  | 23,120 |  |  |  | 8,689 |  |  |  | 13,893 |  |  |  | 22,582 |
Total revenues |  | $ | 258,285 |  |  | $ | 151,831 |  |  | $ | 410,116 |  |  | $ | 280,767 |  |  | $ | 141,582 |  |  | $ | 422,349 |
Schedule of Changes in Allowance for Credit Losses | The changes in allowance for credit losses during the nine months ended September 30, 2024 and 2023 were as follows:
|  | September 30, |
(in thousands) |  | 2024 |  |  | 2023 |
Balance at January 1 |  | $ | 5,015 |  |  | $ | 3,136 |
Allowance pertaining to the receivables acquired as part of the Merger |  |  | 72,685 |  |  |  | - |
Provision for credit losses |  |  | 1,323 |  |  |  | 3,797 |
Write-offs charged against allowance |  |  | (2,434 | ) |  |  | (1,576 | )
Balance at September 30 |  | $ | 76,589 |  |  | $ | 5,357 |
Schedule of Contract Asset and Liability | Balances related to contracts with customers consisted of the following: Contract Assets (amounts shown in thousands)
Contract assets at December 31, 2023 |  | $ | - |
Additions |  |  | 8,896 |
Transfers to Trade receivables, net |  |  | (749 | )
Contract assets at September 30, 2024 |  | $ | 8,147 |
Contract liabilities (amounts shown in thousands)
Contract liabilities at December 31, 2023 |  | $ | - |
Additions |  |  | 14,979 |
Revenue recognized |  |  | (889 | )
Contract liabilities at September 30, 2024 |  | $ | 14,090 |

X
- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration