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v3.25.1

Goodwill and Intangible Assets, Net (Tables) | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Goodwill | The following table summarizes the activity in goodwill balance for periods presented below (in thousands):
|  | Natural Gas Technologies |  |  | Production Solutions |  |  | Total |
|  | Goodwill |  |  | Accumulated Impairment Losses |  |  | Goodwill, net of Accumulated Impairment |  |  | Goodwill |  |  | Accumulated Impairment Losses |  |  | Goodwill, net of Accumulated Impairment |  |  | Goodwill, net of Accumulated Impairment |
Balance as of December 31, 2023 |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 7,596 |  |  | $ |  | (5,372 | ) |  | $ |  | 2,224 |  |  | $ |  | 2,224 |
Additions to goodwill |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Goodwill impairment |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Balance as of March 31, 2024 |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 7,596 |  |  | $ |  | (5,372 | ) |  | $ |  | 2,224 |  |  | $ |  | 2,224 |
Balance as of December 31, 2024 |  | $ |  | 66,325 |  |  | $ |  | — |  |  | $ |  | 66,325 |  |  | $ |  | 188,739 |  |  | $ |  | (5,372 | ) |  | $ |  | 183,367 |  |  | $ |  | 249,692 |
Additions to goodwill |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Goodwill impairment |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Balance as of March 31, 2025 |  | $ |  | 66,325 |  |  | $ |  | — |  |  | $ |  | 66,325 |  |  | $ |  | 196,335 |  |  | $ |  | (10,744 | ) |  | $ |  | 183,367 |  |  | $ |  | 249,692 |
Schedule of Intangible Assets, Net | Intangible assets, net, consist of the following as of March 31, 2025 and December 31, 2024 (in thousands):
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Developed technology |  | $ |  | 97,350 |  |  |  |  | (11,062 | ) |  | $ |  | 86,288 |  |  | $ |  | 97,350 |  |  | $ |  | (9,221 | ) |  | $ |  | 88,129 |
Trade name |  |  |  | 61,010 |  |  |  |  | (7,370 | ) |  |  |  | 53,640 |  |  |  |  | 61,010 |  |  |  |  | (5,845 | ) |  |  |  | 55,165 |
Customer relationships |  |  |  | 168,340 |  |  |  |  | (15,514 | ) |  |  |  | 152,826 |  |  |  |  | 168,340 |  |  |  |  | (11,350 | ) |  |  |  | 156,990 |
Non-compete agreement |  |  |  | 2,048 |  |  |  |  | (285 | ) |  |  |  | 1,763 |  |  |  |  | 2,048 |  |  |  |  | — |  |  |  |  | 2,048 |
Patent |  |  |  | 212 |  |  |  |  | (5 | ) |  |  |  | 207 |  |  |  |  | 193 |  |  |  |  | (3 | ) |  |  |  | 190 |
Total |  | $ |  | 328,960 |  |  | $ |  | (34,236 | ) |  | $ |  | 294,724 |  |  | $ |  | 328,941 |  |  | $ |  | (26,419 | ) |  | $ |  | 302,522 |
Schedule of Weighted Average Remaining Useful Lives of Company's Intangible Assets | As of March 31, 2025, the weighted average remaining useful lives for the Company's intangible assets are as follows:
Developed technology |  | 9.5 Years
Trade name |  | 8.8 Years
Customer relationships |  | 9.3 Years
Non-compete agreement |  | 2.6 Years
Patent |  | 19.3 Years
Schedule of Estimated Future Amortization Expense | Estimated future amortization expense as of March 31, 2025 for each of the next five years and thereafter is as follows (in thousands):
2025 (remaining 9 months) | $ |  | 23,441 |
2026 |  |  | 31,255 |
2027 |  |  | 31,141 |
2028 |  |  | 30,375 |
2029 |  |  | 29,420 |
Thereafter |  |  | 149,092 |
| $ |  | 294,724 |

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