v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
All of the Company's revenue for the three and six months ended June 30, 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 June 30,Six Months Ended June 30,
2026202520262025
Revenue by Line of Business
Asset management$12,481 $6,869 $21,237 $13,996 
Property management (1)
4,057 2,903 7,481 5,861 
ParkX management6,043 3,200 11,309 5,754 
Total revenue$22,581 $12,972 $40,027 $25,611 
(1)
CHCI Commercial and CHCI Residential
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue by Customer Type
Related party$20,108 $11,260 $35,556 $22,712 
Third party2,473 1,712 4,471 2,899 
Total revenue$22,581 $12,972 $40,027 $25,611 
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue by Timing
Recurring/over time$15,648 $11,357 $31,385 $22,916 
Point-in-time6,933 1,615 8,642 2,695 
Total revenue$22,581 $12,972 $40,027 $25,611 
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue by Contract Fee Type (1)
Cost recovery(2)
$10,570 $8,369 $21,653 $16,993 
Variable(3)
8,711 2,989 12,087 5,640 
Fixed fee(4)
3,300 1,614 6,287 2,978 
Total revenue$22,581 $12,972 $40,027 $25,611 
(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 and six months ended June 30, 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.