v3.25.3
Revenue & Contract Liability (Tables)
9 Months Ended
Sep. 30, 2025
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]  
Schedule of Disaggregated Revenues By Service Type

The following table presents disaggregated revenues by service type for the three and nine months ended September 30, 2025 and 2024 in thousands:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

Revenue

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Charter

 

$

2,310

 

 

$

14,987

 

 

$

48,143

 

 

$

73,618

 

ACMI

 

 

53,216

 

 

 

36,841

 

 

 

132,067

 

 

 

87,374

 

Other

 

 

2,496

 

 

 

608

 

 

 

5,794

 

 

 

2,825

 

Total

 

$

58,022

 

 

$

52,436

 

 

$

186,004

 

 

$

163,817

 

Summary of Significant Changes in Deferred Revenue Liability Balances

Significant changes in our deferred revenue liability balances during the period and year ended, September 30, 2025 and December 31, 2024, respectively, were as follows in thousands:

 

 

September 30, 2025

 

 

December 31, 2024

 

 

 

 

 

 

 

 

Beginning Balance

 

$

8,903

 

 

$

9,896

 

Revenue Recognized

 

 

(8,903

)

 

 

(9,896

)

Amounts Collected or Invoiced

 

 

4,898

 

 

 

8,903

 

Ending Balance

 

$

4,898

 

 

$

8,903

 

During the three months ended September 30, 2025, two customers of the Company (referred to herein as “Customer A” and “Customer B”, respectively)