| Summary of Revenues Disaggregation |
The following tables present our revenues disaggregated by category and by geography:
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Three Months Ended June 30, 2025 |
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Three Months Ended June 30, 2024 |
|
(in thousands) |
|
NAM |
|
|
INTL &
Offshore |
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Total |
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NAM |
|
|
INTL &
Offshore |
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|
Total |
|
Product revenues |
|
$ |
77,368 |
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|
$ |
72,081 |
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|
$ |
149,449 |
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|
$ |
65,073 |
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|
$ |
44,655 |
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|
$ |
109,728 |
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Service revenues |
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|
15,901 |
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|
|
14,881 |
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|
|
30,782 |
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|
|
12,161 |
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|
|
1,769 |
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|
|
13,930 |
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Rental revenues |
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|
26,698 |
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|
|
17,305 |
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|
|
44,003 |
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|
|
1,848 |
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|
|
4,796 |
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|
|
6,644 |
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Total revenues |
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$ |
119,967 |
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|
$ |
104,267 |
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|
$ |
224,234 |
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|
$ |
79,082 |
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|
$ |
51,220 |
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$ |
130,302 |
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Six Months Ended June 30, 2025 |
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|
Six Months Ended June 30, 2024 |
|
(in thousands) |
|
NAM |
|
|
INTL &
Offshore |
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|
Total |
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|
NAM |
|
|
INTL &
Offshore |
|
|
Total |
|
Product revenues |
|
$ |
152,622 |
|
|
$ |
164,177 |
|
|
$ |
316,799 |
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|
$ |
131,738 |
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|
$ |
84,941 |
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$ |
216,679 |
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Service revenues |
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|
32,650 |
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|
|
33,193 |
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|
|
65,843 |
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|
|
24,287 |
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|
|
3,613 |
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|
|
27,900 |
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Rental revenues |
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|
55,211 |
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|
|
26,796 |
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|
|
82,007 |
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|
|
3,955 |
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|
|
9,765 |
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|
|
13,720 |
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Total revenues |
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$ |
240,483 |
|
|
$ |
224,166 |
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|
$ |
464,649 |
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|
$ |
159,980 |
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$ |
98,319 |
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$ |
258,299 |
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| Schedule of Changes in Allowance for Credit Losses |
The changes in allowance for credit losses during the six months ended June 30, 2025 and 2024 were as follows:
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June 30, |
|
(in thousands) |
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2025 |
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2024 |
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Balance at January 1 |
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$ |
63,875 |
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|
$ |
5,015 |
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Provision for (recovery of) credit losses |
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(12,858 |
) |
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|
433 |
|
Write-offs charged against allowance |
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(28,710 |
) |
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|
(1,357 |
) |
Balance at June 30 |
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$ |
22,307 |
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|
$ |
4,091 |
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| Schedule of Contract Asset and Liability |
Balances related to contracts with customers consisted of the following: Contract Assets (amounts shown in thousands)
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Contract assets at December 31, 2024 |
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$ |
5,062 |
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Additions |
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|
469 |
|
Transfers to Trade receivables, net |
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|
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(2,407 |
) |
Contract assets at June 30, 2025 |
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|
$ |
3,124 |
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Contract liabilities (amounts shown in thousands)
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Contract liabilities at December 31, 2024 |
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|
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$ |
13,463 |
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Additions |
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|
3,215 |
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Revenue recognized |
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|
(9,767 |
) |
Contract liabilities at June 30, 2025 |
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$ |
6,911 |
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