v3.26.1
Acquisition Activity (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Purchase Accounting for FMS Acquisition
As of March 31, 2025, the Company finalized the purchase accounting for the FMS Acquisition. The following table summarizes the final purchase price allocation:
dollars in thousands
As of
March 31, 2025
Common Stock
$
13,061 
Working Capital Excess Shares
174 
Closing Cash Shares Adjustment
143 
Accrued Dividends Payable Adjustment
800 
Earnout Shares
2,164 
Total purchase price
$
16,342 
Schedule of Final Purchase Price Allocation
dollars in thousands
As of
December 31, 2024
Adjustments
As of
March 31, 2025
Cash and cash equivalents
$
2,592 
$
— 
$
2,592 
Accounts receivable1
2,701 
— 
2,701 
Aircraft support parts
265 
— 
265 
Prepaid expenses and other current assets
124 
— 
124 
Intangible assets
3,900 
— 
3,900 
Property, plant and equipment
1,014 
— 
1,014 
Other noncurrent assets
1,854 
— 
1,854 
Accounts payable
(259)
— 
(259)
Dividends payable
(800)
— 
(800)
Deferred revenue
(180)
— 
(180)
Accrued expenses and other current liabilities
(170)
(139)
(309)
Operating right-of-use current liability
(56)
— 
(56)
Operating right-of-use noncurrent liability
(960)
— 
(960)
Deferred tax liability
(1,269)
— 
(1,269)
Total identifiable net assets
8,756 
(139)
8,617 
Goodwill
7,586 
139 
7,725 
Total purchase price
$
16,342 
$
— 
$
16,342 
1     Balance includes $1.0 million in unbilled receivable. Fair value of accounts receivable approximates the contractual amount.