v3.26.1
Revenue
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
All the Company's revenue was for the years ended December 31, 2025 and 2024 was generated in the United States.
The following tables summarize the Company’s revenue by line of business, customer type, and contract fee type (in thousands):
Year Ended December 31,
20252024
Revenue by Line of Business:
Asset management$36,620 $31,497 
Property management (1)
11,879 11,612 
Parking management14,362 8,185 
Total revenue$62,861 $51,294 
(1)
CHCI Commercial and CHCI Residential
Year Ended December 31,
20252024
Revenue by Customer Type:
Related party$56,333 $48,278 
Commercial6,528 3,016 
Total revenue$62,861 $51,294 
Year Ended December 31,
20252024
Revenue by Timing:
Recurring/over time$52,050 $43,666 
Point-in-time10,811 7,628 
Total revenue$62,861 $51,294 
Year Ended December 31,
20252024
Revenue by Contract Fee Type:(1)
Cost recovery(2)
$38,439 $33,687 
Variable(3)
16,932 14,001 
Fixed fee(4)
7,490 3,606 
Total revenue$62,861 $51,294 
(1)
Certain contracts contain multiple revenue streams that lend to classification in more than one category.
(2)
Includes cost plus revenues tied to asset management services under the 2022 AMA and reimbursable expenses.
(3)
Includes fixed rate contract amounts applied to various variable metrics to determine the amount of revenue earned.
(4)
Includes fixed fee arrangements where the dollar value of the revenue earned remains consistent over time.
Pursuant to the terms of the 2022 AMA, the Company may earn and recognize incentive fee revenue for certain commercial assets in its managed portfolio based on specific dates and measurement criteria that are defined in the agreement. (See Note 13 for additional information).
For the year ended December 31, 2025, the Company recognized no revenue from incentive fees. For the year ended December 31, 2024, $1.5 million of revenue from incentive fees was recognized. Incentive fee revenue recognized prior to fiscal year 2025 was related to services performed in prior periods for which revenue recognition criteria were previously constrained.