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Revenue
 9 Months Ended
Sep. 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 September 30, 2024North AmericaInternationalProductsCorp/ElimTotal
Oil & Gas$90,460 $9,040 $3 $— $99,503 
Aerospace & Defense16,181 5,663 42 — 21,886 
Industrials 12,285 6,749 478 — 19,512 
Power Generation & Transmission8,029 3,081 544 — 11,654 
Other Process Industries7,836 3,900 79 — 11,815 
Infrastructure, Research & Engineering5,189 2,744 797 — 8,730 
Petrochemical3,806 198 — — 4,004 
Other6,059 2,287 1,333 (4,089)5,590 
Total$149,845 $33,662 $3,276 $(4,089)$182,694 

Three Months Ended September 30, 2023North AmericaInternationalProductsCorp/ElimTotal
Oil & Gas$94,390 $8,827 $35 $— $103,252 
Aerospace & Defense14,240 5,778 47 — 20,065 
Industrials 10,325 6,018 310 — 16,653 
Power Generation & Transmission7,388 1,653 696 — 9,737 
Other Process Industries6,933 2,864 (5)— 9,792 
Infrastructure, Research & Engineering6,042 2,383 1,070 — 9,495 
Petrochemical3,313 586 — — 3,899 
Other6,183 2,871 676 (3,269)6,461 
Total$148,814 $30,980 $2,829 $(3,269)$179,354 
Nine Months Ended September 30, 2024North AmericaInternationalProductsCorp/ElimTotal
Oil & Gas$289,843 $31,841 $240 $— $321,924 
Aerospace & Defense48,152 18,092 100 — 66,344 
Industrials33,047 18,480 1,478 — 53,005 
Power Generation & Transmission18,953 6,017 1,569 — 26,539 
Other Process Industries26,132 12,337 155 — 38,624 
Infrastructure, Research & Engineering14,286 7,762 1,901 — 23,949 
Petrochemical11,467 900 — — 12,367 
Other14,708 5,543 4,417 (10,511)14,157 
Total$456,588 $100,972 $9,860 $(10,511)$556,909 
Nine Months Ended September 30, 2023North AmericaInternationalProductsCorp/ElimTotal
Oil & Gas$281,663 $26,291 $87 $— $308,041 
Aerospace & Defense41,516 15,894 275 — 57,685 
Industrials30,693 18,274 1,336 — 50,303 
Power Generation & Transmission17,834 4,840 3,189 — 25,863 
Other Process Industries24,906 10,567 73 — 35,546 
Infrastructure, Research & Engineering12,696 6,547 2,759 — 22,002 
Petrochemical10,027 887 — — 10,914 
Other11,960 7,364 2,178 (8,457)13,045 
Total$431,295 $90,664 $9,897 $(8,457)$523,399 
Revenue per key geographic location was as follows:
Three Months Ended September 30, 2024North AmericaInternationalProductsCorp/ElimTotal
United States$124,194 $402 $1,658 $(1,457)$124,797 
Other Americas25,108 2,008 107 (577)26,646 
Europe343 29,458 850 (1,655)28,996 
Asia-Pacific200 1,794 661 (400)2,255 
Total$149,845 $33,662 $3,276 $(4,089)$182,694 

Three Months Ended September 30, 2023North AmericaInternationalProductsCorp/ElimTotal
United States$126,239 $120 $1,032 $(849)$126,542 
Other Americas21,907 3,703 49 (1,659)24,000 
Europe465 26,764 510 (701)27,038 
Asia-Pacific203 393 1,238 (60)1,774 
Total$148,814 $30,980 $2,829 $(3,269)$179,354 
Nine Months Ended September 30, 2024North AmericaInternationalProductsCorp/ElimTotal
United States$384,522 $1,129 $4,800 $(3,181)$387,270 
Other Americas66,829 6,224 960 (3,602)70,411 
Europe2,107 89,304 2,081 (3,116)90,376 
Asia-Pacific3,130 4,315 2,019 (612)8,852 
Total$456,588 $100,972 $9,860 $(10,511)$556,909 
Nine Months Ended September 30, 2023North AmericaInternationalProductsCorp/ElimTotal
United States$369,811 $709 $4,478 $(1,718)$373,280 
Other Americas57,218 11,013 673 (3,565)65,339 
Europe3,159 75,421 1,275 (2,693)77,162 
Asia-Pacific1,107 3,521 3,471 (481)7,618 
Total$431,295 $90,664 $9,897 $(8,457)$523,399 

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 nine months ended September 30, 2024 and 2023 that was included in the contract liability balance at the beginning of such year was $6.2 million and $5.7 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.