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Goodwill and Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets, Net | Note 6 – Goodwill and Intangible Assets 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 |  |  |  | 66,325 |  |  |  |  | — |  |  |  |  | 66,325 |  |  |  |  | 181,143 |  |  |  |  | — |  |  |  |  | 181,143 |  |  |  |  | 247,468 |
Goodwill impairment |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Balance as of December 31, 2024 |  | $ |  | 66,325 |  |  | $ |  | — |  |  | $ |  | 66,325 |  |  | $ |  | 188,739 |  |  | $ |  | (5,372 | ) |  | $ |  | 183,367 |  |  | $ |  | 249,692 |
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 December 31, 2025 |  | $ |  | 66,325 |  |  | $ |  | — |  |  | $ |  | 66,325 |  |  | $ |  | 188,739 |  |  | $ |  | (5,372 | ) |  | $ |  | 183,367 |  |  | $ |  | 249,692 |
Intangible assets, net, consist of the following as of December 31, 2025 and 2024 (in thousands):
|  | December 31, 2025 |  |  | December 31, 2024 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Developed technology |  | $ |  | 97,354 |  |  |  |  | (16,584 | ) |  | $ |  | 80,770 |  |  | $ |  | 97,350 |  |  | $ |  | (9,221 | ) |  | $ |  | 88,129 |
Trade name |  |  |  | 61,010 |  |  |  |  | (11,946 | ) |  |  |  | 49,064 |  |  |  |  | 61,010 |  |  |  |  | (5,845 | ) |  |  |  | 55,165 |
Customer relationships |  |  |  | 170,264 |  |  |  |  | (28,659 | ) |  |  |  | 141,605 |  |  |  |  | 168,340 |  |  |  |  | (11,350 | ) |  |  |  | 156,990 |
Non-compete agreement |  |  |  | 2,048 |  |  |  |  | (796 | ) |  |  |  | 1,252 |  |  |  |  | 2,048 |  |  |  |  | — |  |  |  |  | 2,048 |
Patent |  |  |  | 764 |  |  |  |  | (18 | ) |  |  |  | 746 |  |  |  |  | 193 |  |  |  |  | (3 | ) |  |  |  | 190 |
Total |  | $ |  | 331,440 |  |  | $ |  | (58,003 | ) |  | $ |  | 273,437 |  |  | $ |  | 328,941 |  |  | $ |  | (26,419 | ) |  | $ |  | 302,522 |
Amortization expense totaled $31.7 million, $17.2 million and $2.1 million for the years ended December 31, 2025, 2024 and 2023, respectively. As of December 31, 2025, the weighted average remaining useful lives for the Company's intangible assets are as follows:
Developed technology |  | 12.8 Years
Trade name |  | 8.1 Years
Customer relationships |  | 8.5 Years
Non-compete agreement |  | 1.9 Years
Patent |  | 18.5 Years
Amortization expense is classified in operating expenses on the accompanying consolidated statements of operations. Estimated future amortization expense as of December 31, 2025 for each of the next five years and thereafter is as follows (in thousands):
2026 | $ |  | 32,036 |
2027 |  |  | 31,922 |
2028 |  |  | 30,450 |
2029 |  |  | 29,432 |
2030 |  |  | 28,431 |
Thereafter |  |  | 121,166 |
| $ |  | 273,437 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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