v3.25.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Property, Plant and Equipment, Net The table below summarizes depreciable lives by asset category:
Estimated Useful Life
Aircraft, engines and rotable parts
1,500 – 6,000 flight hours
Vehicles and equipment
3 – 5 years
Buildings
50 years
Leasehold improvements
10 years
Property, plant and equipment, net consist of the following:
As of December 31,
dollars in thousands
20252024
Aircraft$262,013 $185,877 
Less: Accumulated depreciation(48,607)(38,210)
Aircraft, net213,406 147,667 
Vehicles and equipment7,049 5,921 
Buildings1,200 1,054 
Leasehold improvements645 35,504 
Licenses235 235 
Finance lease right-of-use asset117 101 
Capitalized software and development costs35 35 
Construction-in-progress - leasehold improvements— 5 
Less: Accumulated depreciation(3,873)(6,753)
Leasehold improvements and equipment, net5,408 36,102 
Total property, plant and equipment, net$218,814 $183,769 
Schedule of Contract Asset
Net contract (liabilities) assets are as follows:
As of December 31,
dollars in thousands
20252024
Net Change
Contract assets$2,250 $1,746 $505 
Contract liabilities3,434 858 2,577 
Net contract (liabilities) assets$(1,184)$888 $(2,072)
Schedule of Disaggregation of Revenue
The following table presents the disaggregation of revenue by service:
For the years Ended December 31,
dollars in thousands
20252024
Fire suppression$79,840 $66,765 
Aerial surveillance17,426 13,062 
MRO21,498 13,918 
Other services4,066 4,868 
Total revenues$122,830 $98,613 
For the Years Ended December 31,
dollars in thousands20252024
United States$108,843 $88,527 
Spain13,987 10,086 
Total revenues$122,830 $98,613