v3.26.1
Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2026
Revenue from Contracts with Customers  
Revenue from Contracts with Customers

12. Revenue from Contracts with Customers

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The following table presents our revenue from contracts with customers by segment and disaggregated by revenue source:

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Three Months Ended

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Six Months Ended

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June 30, 

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June 30, 

(in thousands)

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2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Contract operations:

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0 ― 1,000 horsepower per unit

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$

105,444

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$

108,670

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$

212,584

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$

210,902

1,001 ― 1,500 horsepower per unit

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106,249

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106,354

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215,700

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207,956

Over 1,500 horsepower per unit

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117,436

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103,155

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231,587

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199,571

Other (1)

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131

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148

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269

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295

Total contract operations revenue (2)

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329,260

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318,327

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660,140

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618,724

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Aftermarket services:

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Services

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22,915

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33,107

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44,387

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59,162

OTC parts and components sales

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19,063

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29,846

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40,478

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50,557

Other

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—

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1,872

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—

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1,872

Total aftermarket services revenue (3)

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41,978

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64,825

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84,865

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111,591

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Total revenue

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$

371,238

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$

383,152

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$

745,005

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$

730,315

(1) Primarily relates to fees associated with owned non-compression equipment.
(2) Includes $1.6 million and $1.8 million for the three months ended June 30, 2026 and 2025, respectively, and $3.1 million and $3.4 million for the six months ended June 30, 2026 and 2025, respectively, related to billable maintenance on owned compressors that was recognized at a point in time. All other contract operations revenue is recognized over time.
(3) Services revenue within aftermarket services is recognized over time. OTC parts and components sales revenue and other revenue is recognized at a point in time.

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See Note 19 (“Segments”) for further details.

Performance Obligations

As of June 30, 2026, we had $1.5 billion of remaining performance obligations related to our contract operations segment, which will be recognized through 2034 as follows:

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(in thousands)

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2026

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2027

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2028

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2029

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2030

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Thereafter (1)

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Total

Remaining performance obligations

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$

351,346

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$

413,296

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$

212,807

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$

140,457

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$

109,724

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$

274,546

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$

1,502,176

(1) Performance obligations are expected to be $89.6 million, $79.9 million, $71.5 million and $33.5 million during the years ending December 31, 2031, 2032, 2033 and 2034, respectively.

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We do not disclose the aggregate transaction price for the remaining performance obligations for aftermarket services as there are no contracts with customers with an original contract term that is greater than one year.

Receivables from Contracts with Customers

As of June 30, 2026 and December 31, 2025, our receivables from contracts with customers, net of allowance for credit losses, were $158.9 million and $128.9 million, respectively.

Allowance for Credit Losses

The changes in our allowance for credit losses during the six months ended June 30, 2026 are as follows:

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(in thousands)

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Balance at beginning of period

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$

1,205

Provision for credit losses

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​

85

Write-offs charged against allowance

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(85)

Balance at end of period

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$

1,205

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Contract Liabilities

Freight billings to customers for the transport of compression assets, customer-specified modifications of compression assets and milestone billings on aftermarket services often result in a contract liability. As of June 30, 2026 and December 31, 2025, our contract liabilities were $11.9 million and $12.0 million, respectively, which are included in other liabilities in our condensed consolidated balance sheets.

During the six months ended June 30, 2026 and 2025, we deferred revenue of $11.2 million and $9.6 million, respectively, and recognized revenue of $11.4 million and $7.8 million, respectively. The revenue recognized and deferred during the periods is primarily related to freight billings for contract operations and milestone billings for aftermarket services.