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Nature of Operations and Background (Tables)
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Disaggregation of Revenues

The following tables present our third-party revenue from contracts with customers by reportable segment (see Note 15 – Segment Information) and disaggregated by major product and service lines, timing of revenue recognition, and geographical markets for the years ended December 31, 2025, 2024 and 2023 (in thousands):

 

 

 

Year ended December 31, 2025

 

Segments

 

Production
Solutions

 

 

Natural Gas
Technologies

 

 

Other and Eliminations

 

 

Total

 

Major Product/Service Lines

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Surface Equipment (1)

 

$

 

239,409

 

 

$

 

 

 

$

 

 

 

$

 

239,409

 

Downhole Components

 

 

 

257,866

 

 

 

 

 

 

 

 

 

 

 

 

257,866

 

Vapor Recovery (1)

 

 

 

 

 

 

 

229,016

 

 

 

 

(175

)

 

 

 

228,841

 

Natural Gas Systems

 

 

 

 

 

 

 

92,214

 

 

 

 

(58,611

)

 

 

 

33,603

 

Total

 

$

 

497,275

 

 

$

 

321,230

 

 

$

 

(58,786

)

 

$

 

759,719

 

Timing of Revenue Recognition

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goods transferred at a point in time

 

$

 

257,866

 

 

$

 

142,681

 

 

$

 

(58,786

)

 

$

 

341,761

 

Services transferred over time

 

 

 

239,409

 

 

 

 

178,549

 

 

 

 

 

 

 

 

417,958

 

Total

 

$

 

497,275

 

 

$

 

321,230

 

 

$

 

(58,786

)

 

$

 

759,719

 

Geographical Markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

 

487,067

 

 

$

 

320,319

 

 

$

 

(58,786

)

 

$

 

748,600

 

International

 

 

 

10,208

 

 

 

 

911

 

 

 

 

 

 

 

 

11,119

 

Total

 

$

 

497,275

 

 

$

 

321,230

 

 

$

 

(58,786

)

 

$

 

759,719

 

____________________________

(1) All revenue for these service lines are recognized in accordance with ASC 842 as described within the Revenue Recognition section above.

 

 

Year ended December 31, 2024

 

Segments

 

Production
Solutions

 

 

Natural Gas
Technologies

 

 

Other and Eliminations

 

 

Total

 

Major Product/Service Lines

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Surface Equipment (1)

 

$

 

192,328

 

 

$

 

 

 

$

 

 

 

$

 

192,328

 

Downhole Components

 

 

 

135,477

 

 

 

 

 

 

 

 

 

 

 

 

135,477

 

Vapor Recovery (1)

 

 

 

 

 

 

 

125,735

 

 

 

 

 

 

 

 

125,735

 

Natural Gas Systems

 

 

 

 

 

 

 

120,901

 

 

 

 

(39,163

)

 

 

 

81,738

 

Total

 

$

 

327,805

 

 

$

 

246,636

 

 

$

 

(39,163

)

 

$

 

535,278

 

Timing of Revenue Recognition

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goods transferred at a point in time

 

$

 

135,477

 

 

$

 

162,277

 

 

$

 

(39,163

)

 

$

 

258,591

 

Services transferred over time

 

 

 

192,328

 

 

 

 

84,359

 

 

 

 

 

 

 

 

276,687

 

Total

 

$

 

327,805

 

 

$

 

246,636

 

 

$

 

(39,163

)

 

$

 

535,278

 

Geographical Markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

 

319,270

 

 

$

 

246,266

 

 

$

 

(39,163

)

 

$

 

526,373

 

International

 

 

 

8,535

 

 

 

 

370

 

 

 

 

 

 

 

 

8,905

 

Total

 

$

 

327,805

 

 

$

 

246,636

 

 

$

 

(39,163

)

 

$

 

535,278

 

____________________________

(1) All revenue for these service lines are recognized in accordance with ASC 842 as described within the Revenue Recognition section above.

 

 

Year ended December 31, 2023

 

Segments

 

Production
Solutions

 

 

Natural Gas
Technologies

 

 

Other and Eliminations

 

 

Total

 

Major Product/Service Lines

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Surface Equipment (1)

 

$

 

168,801

 

 

$

 

 

 

$

 

 

 

$

 

168,801

 

Downhole Components

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vapor Recovery (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Natural Gas Systems

 

 

 

 

 

 

 

111,280

 

 

 

 

(36,758

)

 

 

 

74,522

 

Total

 

$

 

168,801

 

 

$

 

111,280

 

 

$

 

(36,758

)

 

$

 

243,323

 

Timing of Revenue Recognition

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goods transferred at a point in time

 

$

 

 

 

$

 

111,280

 

 

$

 

(36,758

)

 

$

 

74,522

 

Services transferred over time

 

 

 

168,801

 

 

 

 

 

 

 

 

 

 

 

 

168,801

 

Total

 

$

 

168,801

 

 

$

 

111,280

 

 

$

 

(36,758

)

 

$

 

243,323

 

Geographical Markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

 

168,801

 

 

$

 

111,280

 

 

$

 

(36,758

)

 

$

 

243,323

 

International

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

 

168,801

 

 

$

 

111,280

 

 

$

 

(36,758

)

 

$

 

243,323

 

____________________________

(1) All revenue for these service lines are recognized in accordance with ASC 842 as described within the Revenue Recognition section above.

Summary of Change in Accounts Receivable Allowance for Credit Losses

The following table summarizes the change in the accounts receivable allowance for credit losses for the periods presented (in thousands):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

Accounts receivable allowance for credit losses,
   beginning of period

 

$

 

1,169

 

 

$

 

1,259

 

Acquired from 2024 Business Combination

 

 

 

 

 

 

 

377

 

Write-offs

 

 

 

(1,401

)

 

 

 

(1,269

)

Expense

 

 

 

1,311

 

 

 

 

802

 

Accounts receivable allowance for credit losses,
   end of period

 

$

 

1,079

 

 

$

 

1,169

 

Schedule of Accounts Receivable and Contract Liabilities from Contracts with Customers

The following table provides information about accounts receivable and contract liabilities from contracts with customers (in thousands):

 

 

As of December 31,

 

 

 

2025

 

 

2024

 

Accounts receivable, net

 

$

 

100,465

 

 

$

 

120,353

 

Deferred revenue

 

$

 

7,376

 

 

$

 

8,002

 

The following table presents a reconciliation of contract liabilities (in thousands):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

Deferred revenue, beginning of period

 

$

 

8,002

 

 

$

 

1,515

 

Acquired from 2024 Business Combination

 

 

 

 

 

 

 

4,628

 

Deposits received

 

 

 

20,142

 

 

 

 

11,497

 

Revenue recognized

 

 

 

(20,768

)

 

 

 

(9,638

)

Deferred revenue, end of period

 

$

 

7,376

 

 

$

 

8,002

 

Schedule of Estimated Useful Lives of Major Asset Categories The estimated useful lives of major asset categories are as follows:

 

Buildings

 

40 years

Compressor and related equipment

 

10-15 years

Machinery and equipment

 

3-15 years

Furniture, fixtures and office equipment

 

3-7 years

Software

 

3-5 years

Vehicles

 

5 years

Land

 

Unlimited

Leasehold improvements

 

Lesser of useful life or lease term

Schedule of Intangible Assets Amortized using the Straight Line Method Over their Respective Useful Lives The Company's intangible assets include customer relationships, developed technology and trade name assets which are amortized using the straight-line method over their respective estimated useful lives below:

 

Trade Names

 

10 years

Customer Relationships

 

3-14 years

Non-compete agreement

 

3 years

Patent

 

20 years

Developed Technology

 

10-20 years