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Revenue
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company derives the majority of its revenue by providing services on a time and material basis, and are short-term in nature. The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers.
Performance Obligations
The Company provides highly integrated and bundled inspection services to its customers. The majority of the Company’s contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and is, therefore, not distinct. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using the Company’s best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is a relative selling price based on price lists.

Contract modifications are not routine in the performance of the Company’s contracts. Generally, when contracts are modified, the modification is to account for changes in scope to the goods and services that are provided. In most instances, contract modifications are for goods or services that are distinct, and, therefore, are accounted for as a separate contract.

The Company’s performance obligations are satisfied over time as work progresses or at a point in time. The majority of the Company’s revenue is recognized over time as work progresses for the Company’s service deliverables, which includes providing testing, inspection and mechanical services to our customers. Revenue is recognized over time, based on time and material incurred to date which best portrays the transfer of control to the customer. The Company also utilizes an available practical expedient that provides for revenue to be recognized in an amount that corresponds directly with the value to the customer of the entity’s performance completed to date. Fixed fee arrangements are determined based on expected labor, material, and overhead to be consumed on fulfillment of such services. For these arrangements, revenue is recognized on a cost-to-cost method tracked on an input basis.

The majority of our revenue recognized at a point in time is related to product sales when the customer obtains control of the asset, which is generally upon shipment to the customer. Contract costs include labor, material and overhead.

The Company expects any significant remaining performance obligations to be satisfied within one year.

Contract Estimates

The majority of the Company's revenues are short-term in nature. The Company enters into master service agreements ("MSA"s) with customers that specify an overall framework and contract terms. The actual contracting to provide services or furnish products are triggered by a work order, purchase order, or some similar document issued pursuant to a MSA which sets forth the scope of services and/or identifies the products to be provided. From time-to-time, the Company may enter into longer-term contracts, which can range from several months to several years. Revenue on certain contracts is recognized as work is performed based on total costs incurred to date in relation to the total estimated costs for the performance of the contract at completion. This includes contract estimates of costs to be incurred for the performance of the contract. Cost estimation is based upon the professional knowledge and experience of the Company's project managers, engineers and financial professionals. Factors that are considered in estimating the work to be completed include the availability of materials, the effect of any delays in the Company's project performance and the recoverability of any claims. Whenever revisions of estimates, contract costs and/or contract values indicate that the contract costs will exceed estimated revenues, thus creating a loss, a provision for the total estimated loss is recorded in that period.
Revenue by Category

The following series of tables present the Company’s disaggregated revenue:

Revenue by industry was as follows:
Three Months Ended June 30, 2024North AmericaInternationalProductsCorp/ElimTotal
Oil & Gas$96,356 $12,735 $165 $— $109,256 
Aerospace & Defense16,596 5,697 47 — 22,340 
Industrials 11,853 5,878 563 — 18,294 
Power Generation & Transmission7,332 1,254 447 — 9,033 
Other Process Industries10,368 4,504 37 — 14,909 
Infrastructure, Research & Engineering5,125 2,813 695 — 8,633 
Petrochemical3,848 171 — — 4,019 
Other4,916 1,212 1,419 (4,258)3,289 
Total$156,394 $34,264 $3,373 $(4,258)$189,773 

Three Months Ended June 30, 2023North AmericaInternationalProductsCorp/ElimTotal
Oil & Gas$97,500 $8,609 $15 $— $106,124 
Aerospace & Defense13,665 5,136 217 — 19,018 
Industrials 11,066 6,203 468 — 17,737 
Power Generation & Transmission5,459 1,530 1,167 — 8,156 
Other Process Industries8,864 4,466 51 — 13,381 
Infrastructure, Research & Engineering4,171 2,028 547 — 6,746 
Petrochemical1,577 156 — — 1,733 
Other3,248 2,149 864 (3,126)3,135 
Total$145,550 $30,277 $3,329 $(3,126)$176,030 

Six Months Ended June 30, 2024North AmericaInternationalProductsCorp/ElimTotal
Oil & Gas$199,383 $22,801 $237 $— $222,421 
Aerospace & Defense31,971 12,429 58 — 44,458 
Industrials20,762 11,731 1,000 — 33,493 
Power Generation & Transmission10,924 2,936 1,025 — 14,885 
Other Process Industries18,296 8,437 76 — 26,809 
Infrastructure, Research & Engineering9,097 5,018 1,104 — 15,219 
Petrochemical7,661 702 — — 8,363 
Other8,649 3,257 3,083 (6,422)8,567 
Total$306,743 $67,311 $6,583 $(6,422)$374,215 
Six Months Ended June 30, 2023North AmericaInternationalProductsCorp/ElimTotal
Oil & Gas$187,273 $17,464 $52 $— $204,789 
Aerospace & Defense27,276 10,116 228 — 37,620 
Industrials20,368 12,256 1,026 — 33,650 
Power Generation & Transmission10,446 3,187 2,493 — 16,126 
Other Process Industries17,973 7,703 78 — 25,754 
Infrastructure, Research & Engineering6,654 4,164 1,689 — 12,507 
Petrochemical6,714 301 — — 7,015 
Other5,778 4,493 1,502 (5,188)6,585 
Total$282,482 $59,684 $7,068 $(5,188)$344,046 
Revenue per key geographic location was as follows:
Three Months Ended June 30, 2024North AmericaInternationalProductsCorp/ElimTotal
United States$130,870 $432 $1,542 $(209)$132,635 
Other Americas24,594 1,921 675 (2,787)24,403 
Europe611 31,183 580 (1,115)31,259 
Asia-Pacific319 728 576 (147)1,476 
Total$156,394 $34,264 $3,373 $(4,258)$189,773 

Three Months Ended June 30, 2023North AmericaInternationalProductsCorp/ElimTotal
United States$122,972 $280 $1,645 $(271)$124,626 
Other Americas21,041 3,821 298 (1,474)23,686 
Europe1,282 24,474 504 (1,166)25,094 
Asia-Pacific255 1,702 882 (215)2,624 
Total$145,550 $30,277 $3,329 $(3,126)$176,030 

Six Months Ended June 30, 2024North AmericaInternationalProductsCorp/ElimTotal
United States$260,328 $728 $3,142 $(1,724)$262,474 
Other Americas41,721 4,216 852 (3,027)43,762 
Europe1,764 59,846 1,231 (1,461)61,380 
Asia-Pacific2,930 2,521 1,358 (210)6,599 
Total$306,743 $67,311 $6,583 $(6,422)$374,215 
Six Months Ended June 30, 2023North AmericaInternationalProductsCorp/ElimTotal
United States$243,572 $589 $3,446 $(869)$246,738 
Other Americas35,311 7,310 624 (1,906)41,339 
Europe2,694 48,657 765 (1,992)50,124 
Asia-Pacific905 3,128 2,233 (421)5,845 
Total$282,482 $59,684 $7,068 $(5,188)$344,046 
Contract Balances
The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on the Consolidated Balance Sheets. Amounts are generally billed as work progresses in accordance with agreed-upon contractual terms, generally at periodic intervals (e.g., weekly, bi-weekly or monthly). Generally, billing occurs subsequent to revenue recognition, resulting in contract assets. However, the Company sometimes receives advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. These assets and liabilities are aggregated on an individual contract basis and reported on the Consolidated Balance Sheets at the end of each reporting period within accounts receivable, net or accrued expenses and other current liabilities.

Revenue recognized during the six months ended June 30, 2024 and 2023 that was included in the contract liability balance at the beginning of such year was $4.8 million and $4.6 million, respectively, for each period. Changes in the contract asset and liability balances during these periods were not materially impacted by any other factors. The Company applies the practical expedient to expense incremental costs incurred related to obtaining a contract when the amortization period of the asset that the Company otherwise would have recognized is one year or less.