XML 40 R33.htm IDEA: XBRL DOCUMENT v3.25.1
Goodwill and Intangible Assets, Net (Tables)
 3 Months Ended
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