v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
All of the Company's revenue for the three months ended March 31, 2026 and 2025 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):
Three Months Ended March 31,
20262025
Revenue by Line of Business
Asset management$8,756 $7,127 
Property management (1)
3,424 2,958 
ParkX management5,266 2,554 
Total revenue$17,446 $12,639 
(1)
CHCI Commercial and CHCI Residential
Three Months Ended March 31,
20262025
Revenue by Customer Type
Related party$15,448 $11,452 
Third party1,998 1,187 
Total revenue$17,446 $12,639 
Three Months Ended March 31,
20262025
Revenue by Timing
Recurring/over time$15,737 $11,559 
Point-in-time1,709 1,080 
Total revenue$17,446 $12,639 
Three Months Ended March 31,
20262025
Revenue by Contract Fee Type (1)
Cost recovery(2)
$11,083 $8,624 
Variable(3)
3,376 2,651 
Fixed fee(4)
2,987 1,364 
Total revenue$17,446 $12,639 
(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 revenue earned from 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 asset management agreement with CP (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. The Company recognized no revenue from incentive fees for the three months ended March 31, 2026 and 2025. (See Note 13 for additional information).
As a practical expedient, we do not disclose the value of unsatisfied performance obligations for contracts with an effective expected duration of one year or less or contracts for which we recognize revenues at the amount to which we have the right to invoice for the services provided.