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Segment Reporting | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | 16. SEGMENT REPORTING We operate our business in two segments. These complementary operating segments provide different services and products and utilize different technologies for evaluating and improving reservoir performance and increasing oil and gas recovery from new and existing fields. • Reservoir Description: Encompasses the characterization of petroleum reservoir rock and reservoir fluids samples to increase production and improve recovery of crude oil and natural gas from our clients’ reservoirs. We provide laboratory-based analytical and field services to characterize properties of crude oil and crude oil-derived products to the oil and gas industry. Services associated with these fluids include determining the quality and measuring the quantity of the reservoir fluids and their derived products, such as gasoline, diesel and biofuels. We also provide proprietary and joint industry studies based on these types of analyses and manufacture associated laboratory equipment. In addition, we provide reservoir description capabilities that support various activities associated with energy transition projects, including services that support carbon capture, utilization and storage, geothermal projects, and the evaluation and appraisal of mining activities around lithium and other elements necessary for energy storage. • Production Enhancement: Includes services and manufactured products associated with reservoir well completions, perforations, stimulation, production and well abandonment. We provide integrated diagnostic services to evaluate and monitor the effectiveness of well completions and to develop solutions aimed at increasing the effectiveness of enhanced oil recovery projects. We use the same accounting policies to prepare our operating segment results as are used to prepare our consolidated financial statements. All interest and other non-operating income (expense) is attributable to Corporate & Other and is not allocated to specific operating segments. Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who also serves as Chairman of the Board of Directors. The CODM uses revenue from unaffiliated clients and segment operating income to allocate resources, primarily for working capital, staffing and capital expenditures, during the annual budgeting process and monthly when comparing actual results to budgeted and forecasted results. Summarized financial information of our operating segments is shown in the following table (in thousands):
|  | Reservoir Description |  |  | Production Enhancement |  |  | Corporate & Other (1) |  |  | Consolidated |
Three months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
CODM Measure - Revenue from unaffiliated clients |  | $ | 88,224 |  |  | $ | 46,297 |  |  | $ | — |  |  | $ | 134,521 |
Reconciliation of CODM measure - revenue from unaffiliated clients to segment operating income: |
Inter-segment revenue |  |  | 79 |  |  |  | 41 |  |  |  | (120 | ) |  |  | — |
Cost of services and product sales |  |  | 67,156 |  |  |  | 37,553 |  |  |  | 192 |  |  |  | 104,901 |
General and administrative expense (2) |  |  | 6,900 |  |  |  | 3,788 |  |  |  | — |  |  |  | 10,688 |
Depreciation and amortization |  |  | 2,594 |  |  |  | 1,000 |  |  |  | — |  |  |  | 3,594 |
Other operating (income) expense, net (3) |  |  | (5,232 | ) |  |  | (306 | ) |  |  | (406 | ) |  |  | (5,944 | )
Foreign exchange (gain) loss, net (3) |  |  | 311 |  |  |  | (76 | ) |  |  | 119 |  |  |  | 354 |
CODM Measure - Segment operating income |  |  | 16,574 |  |  |  | 4,379 |  |  |  | (25 | ) |  |  | 20,928 |
Supplemental Disclosures: |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  |  | 322,047 |  |  |  | 143,219 |  |  |  | 126,094 |  |  |  | 591,360 |
Capital expenditures |  |  | 2,706 |  |  |  | 183 |  |  |  | 142 |  |  |  | 3,031 |
Three months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
CODM Measure - Revenue from unaffiliated clients |  | $ | 88,840 |  |  | $ | 45,557 |  |  | $ | — |  |  | $ | 134,397 |
Reconciliation of CODM measure - revenue from unaffiliated clients to segment operating income: |
Inter-segment revenue |  |  | 34 |  |  |  | 125 |  |  |  | (159 | ) |  |  | — |
Cost of services and product sales |  |  | 68,544 |  |  |  | 38,490 |  |  |  | (229 | ) |  |  | 106,805 |
General and administrative expense (2) |  |  | 5,542 |  |  |  | 3,100 |  |  |  | — |  |  |  | 8,642 |
Depreciation and amortization |  |  | 2,618 |  |  |  | 1,058 |  |  |  | — |  |  |  | 3,676 |
Other operating (income) expense, net (3) |  |  | (4,160 | ) |  |  | (81 | ) |  |  | (49 | ) |  |  | (4,290 | )
Foreign exchange (gain) loss, net (3) |  |  | (157 | ) |  |  | (117 | ) |  |  | 35 |  |  |  | (239 | )
CODM Measure - Segment operating income |  |  | 16,487 |  |  |  | 3,232 |  |  |  | 84 |  |  |  | 19,803 |
Supplemental Disclosures: |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  |  | 322,001 |  |  |  | 154,995 |  |  |  | 123,470 |  |  |  | 600,466 |
Capital expenditures |  |  | 2,273 |  |  |  | 427 |  |  |  | 29 |  |  |  | 2,729 |
Nine months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
CODM Measure - Revenue from unaffiliated clients |  | $ | 255,401 |  |  | $ | 132,864 |  |  | $ | — |  |  | $ | 388,265 |
Reconciliation of CODM measure - revenue from unaffiliated clients to segment operating income: |
Inter-segment revenue |  |  | 136 |  |  |  | 155 |  |  |  | (291 | ) |  |  | — |
Cost of services and product sales |  |  | 198,701 |  |  |  | 108,690 |  |  |  | 680 |  |  |  | 308,071 |
General and administrative expense (2) |  |  | 22,754 |  |  |  | 12,045 |  |  |  | — |  |  |  | 34,799 |
Depreciation and amortization |  |  | 7,854 |  |  |  | 3,127 |  |  |  | — |  |  |  | 10,981 |
Other operating (income) expense, net (3) |  |  | (5,576 | ) |  |  | 143 |  |  |  | (1,630 | ) |  |  | (7,063 | )
Foreign exchange (gain) loss, net (3) |  |  | 688 |  |  |  | (16 | ) |  |  | 169 |  |  |  | 841 |
CODM Measure - Segment operating income |  |  | 31,116 |  |  |  | 9,030 |  |  |  | 490 |  |  |  | 40,636 |
Supplemental Disclosures: |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  |  | 322,047 |  |  |  | 143,219 |  |  |  | 126,094 |  |  |  | 591,360 |
Capital expenditures |  |  | 8,880 |  |  |  | 1,887 |  |  |  | 170 |  |  |  | 10,937 |
Nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
CODM Measure - Revenue from unaffiliated clients |  | $ | 259,353 |  |  | $ | 135,258 |  |  | $ | — |  |  | $ | 394,611 |
Reconciliation of CODM measure - revenue from unaffiliated clients to segment operating income: |
Inter-segment revenue |  |  | 71 |  |  |  | 187 |  |  |  | (258 | ) |  |  | — |
Cost of services and product sales |  |  | 201,989 |  |  |  | 112,207 |  |  |  | 127 |  |  |  | 314,323 |
General and administrative expense (2) |  |  | 19,842 |  |  |  | 10,848 |  |  |  | — |  |  |  | 30,690 |
Depreciation and amortization |  |  | 8,089 |  |  |  | 3,200 |  |  |  | — |  |  |  | 11,289 |
Other operating (income) expense, net (3) |  |  | (5,753 | ) |  |  | (55 | ) |  |  | (700 | ) |  |  | (6,508 | )
Foreign exchange (gain) loss, net (3) |  |  | 434 |  |  |  | 36 |  |  |  | (35 | ) |  |  | 435 |
CODM Measure - Segment operating income |  |  | 34,823 |  |  |  | 9,209 |  |  |  | 350 |  |  |  | 44,382 |
Supplemental Disclosures: |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  |  | 322,001 |  |  |  | 154,995 |  |  |  | 123,470 |  |  |  | 600,466 |
Capital expenditures |  |  | 7,481 |  |  |  | 914 |  |  |  | 252 |  |  |  | 8,647 |
(1) "Corporate & Other" represents those items that are not directly related to a particular operating segment and eliminations. (2) General and administrative expense is presented as a total amount to the CODM and consists primarily of employee compensation costs, professional fees and information technology costs. (3) Other remaining balance is included in other (income) expense, net. See Note 13 - Other (income) expense, net for further details.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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