| Schedule of Disaggregation of Revenue |
For the years ended December 31, 2025 and 2024, revenue recognized over time was as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | Percentage of Total Net Sales Year Ended December 31, | | | 2025 | | 2024 | | 2025 | | 2024 | Over time input method | | $ | 29,063 | | | $ | 52,706 | | | 5.4 | % | | 10.0 | % | Over time output method | | 99,413 | | | 92,548 | | | 18.4 | | | 17.4 | | Total over time sales | | $ | 128,476 | | | $ | 145,254 | | | 23.8 | % | | 27.4 | % | | | | | | | | | |
For the years ended December 31, 2025 and 2024, net sales by the timing of the transfer of goods and services were as follows:
| | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2025 | | Rail, Technologies, and Services | | Infrastructure Solutions | | Total | Point in time | | $ | 264,150 | | | $ | 147,383 | | | $ | 411,533 | | Over time | | 41,576 | | | 86,900 | | | 128,476 | | Total net sales | | $ | 305,726 | | | $ | 234,283 | | | $ | 540,009 | | | | | | | | | Year Ended December 31, 2024 | | Rail, Technologies, and Services | | Infrastructure Solutions | | Total | Point in time | | $ | 263,432 | | | $ | 122,079 | | | $ | 385,511 | | Over time | | 63,437 | | | 81,817 | | | 145,254 | | Total net sales | | $ | 326,869 | | | $ | 203,896 | | | $ | 530,765 | | | | | | | | |
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| Schedule of Contract with Customer, Contract Asset, Contract Liability |
The following table sets forth the Company’s contract assets:
| | | | | | | | | | | Contract Assets | Contract asset balance as of December 31, 2024 | | $ | 16,720 | | Revenue recognized but not yet billed | | 3,607 | | Adjustments to contract assets | | (4,271) | | Transfers from contract asset balance to accounts receivable | | (9,661) | | Contract asset balance as of December 31, 2025 | | $ | 6,395 | |
The following table sets forth the Company’s contract liabilities:
| | | | | | | | | | | Contract Liabilities | Contract liability balance as of December 31, 2024 | | $ | 1,991 | | Revenue recognized from contract liabilities | | (1,869) | | Increase in billings in excess of costs, excluding revenue recognized | | 852 | | Balance as of December 31, 2025 | | $ | 974 | |
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