| Revenue Disaggregation of Revenues The Company's revenues are derived from the delivery of products to its customers and from services performed for commercial and government customers. A summary of revenues by customer for the three months ended March 31, 2026 and 2025 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended March 31, | | | | | | | | | 2026 | | 2025 | | Commercial | | | | | | | | $ | 320,323 | | | $ | 254,953 | | Government | | | | | | | | 4,257 | | | 1,092 | | | Total | | | | | | | | $ | 324,580 | | | $ | 256,045 | |
A summary of revenues by type for the three months ended March 31, 2026 and 2025 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended March 31, | | | | | | | | | 2026 | | 2025 | Repair | | | | | | | | $ | 122,230 | | | $ | 95,494 | | Distribution | | | | | | | | 202,350 | | | 160,551 | | | Total | | | | | | | | $ | 324,580 | | | $ | 256,045 | |
Contract Balances
Contract balances were as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | March 31, | | December 31, | | | Financial Statement Classification | | 2026 | | 2025 | Billed and billable receivables | | Receivables, net | | $ | 216,504 | | | $ | 190,732 | | Contract assets - unbilled receivables | | Contract assets | | $ | 45,723 | | | $ | 41,468 | | | Contract liabilities | | Accrued expenses and other current liabilities | | $ | 9,381 | | | $ | 6,891 | | | | | | |
During the three months ended March 31, 2026 and 2025, the Company recognized revenue that was previously included in the beginning balance of contract liabilities of $3.3 million and $2.4 million, respectively. |