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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

Note 4 – Property, plant and equipment

Property, plant and equipment consist of the following as of December 31, 2025 and 2024 (in thousands):

 

 

 

As of
December 31,

 

 

As of
December 31,

 

 

 

2025

 

 

2024

 

Land

 

$

 

1,822

 

 

$

 

1,822

 

Buildings

 

 

 

3,257

 

 

 

 

3,297

 

Furniture and fixtures

 

 

 

5,983

 

 

 

 

5,263

 

Software

 

 

 

7,719

 

 

 

 

3,659

 

Machinery and equipment

 

 

 

1,049,872

 

 

 

 

857,900

 

Vehicles

 

 

 

6,192

 

 

 

 

5,889

 

Leasehold improvements

 

 

 

10,509

 

 

 

 

8,269

 

Construction in progress

 

 

 

3,175

 

 

 

 

7,148

 

Property, plant and equipment

 

 

 

1,088,529

 

 

 

 

893,247

 

Less: accumulated depreciation

 

 

 

(290,995

)

 

 

 

(190,631

)

Property, plant and equipment, net

 

$

 

797,534

 

 

$

 

702,616

 

 

 

The Company’s rental fleet included in machinery and equipment above was $1.0 billion (approximately $735.4 million, net of accumulated depreciation) as of December 31, 2025 and was $799.5 million (approximately $620.0 million, net of accumulated depreciation) as of December 31, 2024.

Depreciation expenses during 2025, 2024 and 2023 were approximately $101.0 million, $67.5 million and $40.2 million, respectively.