XML 71 R60.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Debt and Convertible Notes Payable - Narratives (Details)
1 Months Ended 3 Months Ended
Sep. 06, 2023
shares
Aug. 14, 2023
USD ($)
May 17, 2023
USD ($)
$ / shares
shares
Feb. 02, 2023
USD ($)
$ / shares
shares
Jan. 05, 2023
USD ($)
Feb. 02, 2022
USD ($)
day
$ / shares
Apr. 30, 2020
USD ($)
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2023
USD ($)
Jan. 04, 2023
USD ($)
May 17, 2022
USD ($)
Debt Instrument                        
Asset-based loan               $ 3,111,000   $ 7,492,000    
Interest on ABL               181,000        
Other income               0 $ 4,522,000      
ProFrac Holdings | February 2023 Warrants | Related Party                        
Debt Instrument                        
Conversion of notes to common stock (in shares) | shares       12,683,281                
Line of Credit | Asset Based Loan                        
Debt Instrument                        
Debt instrument term (years)   24 months                    
Initial credit availability   $ 13,800,000                    
Percentage of eligible accounts receivable (percent)   85.00%                    
Percentage value of eligible inventory (percent)   60.00%                    
Asset-based loan               3,100,000        
Available borrowing capacity               6,000,000        
Interest on ABL               200,000        
Unamortized issuance cost               $ 100,000        
Debt instrument stated interest rate (percent)   5.50%           11.00%        
Commitment fee percentage (percent)   1.00%                    
Debt instrument, non usage fee (percent)   0.25%                    
Debt instrument, termination fee contingency period   12 months                    
Line of credit facility covenant amount minimum tangible net worth               $ 11,000,000        
Line of Credit | Asset Based Loan | Period One                        
Debt Instrument                        
Early termination fee (percent)   2.50%                    
Line of Credit | Asset Based Loan | Period Two                        
Debt Instrument                        
Early termination fee (percent)   1.50%                    
Line of Credit | Asset Based Loan | Prime Rate                        
Debt Instrument                        
Basis spread on variable rate (percent)   2.50%                    
Line of Credit | Asset Based Loan | Maximum                        
Debt Instrument                        
Percentage of eligible accounts receivable (percent)   100.00%                    
Unsecured Debt | Flotek PPP loan                        
Debt Instrument                        
Proceeds from debt             $ 4,800,000          
Forgiveness of debt         $ 4,400,000              
Principal amount               194,000   $ 239,000 $ 4,800,000  
Accrued interest forgiveness         100,000              
Aggregate principal amount         $ 400,000              
Repaid in monthly installments               15,000        
Other income               4,500,000        
Gain (loss) on extinguishment of debt, principal               4,400,000        
Gain (loss) on extinguishment of debt, accrued interest               $ 100,000        
Convertible Debt | February 2023 Warrants                        
Debt Instrument                        
Conversion price (in dollar per share) | $ / shares       $ 0.0001                
Convertible Debt | PIPE Transaction                        
Debt Instrument                        
Debt instrument term (years)           1 year            
Debt instrument stated interest rate (percent)           10.00%            
Aggregate principal amount           $ 21,200,000            
Proceeds from convertible notes           $ 20,100,000            
Conversion price (in dollar per share) | $ / shares           $ 1.088125            
Stock price trigger (in dollars per share) | $ / shares       0.8705   2.50            
Stock price trigger for trading period (in dollars per share) | $ / shares           $ 1.741            
Threshold trading days | day           20            
Consecutive trading days | day           30            
Convertible Debt | ProFrac Agreement Contract                        
Debt Instrument                        
Debt instrument stated interest rate (percent)           10.00%            
Aggregate principal amount           $ 10,000,000            
Conversion price (in dollar per share) | $ / shares       $ 1.19                
Convertible debt, fair value disclosures       $ 15,100,000                
Convertible Debt | ProFrac Agreement Contract | Related Party                        
Debt Instrument                        
Conversion of notes to common stock (in shares) | shares 12,683,281                      
Convertible notes payable       11,000,000                
Paid-in-kind interest expense       1,000,000                
Convertible debt, fair value disclosures       $ 15,100,000                
Convertible Debt | ProFrac Agreement Contract | Related Party | Reverse Stock Split                        
Debt Instrument                        
Conversion of notes to common stock (in shares) | shares 2,113,881                      
Convertible Debt | ProFrac Agreement Contract | Estimate of Fair Value Measurement                        
Debt Instrument                        
Convertible debt, fair value disclosures           $ 10,000,000            
Convertible Debt | Amended ProFrac Agreement                        
Debt Instrument                        
Debt instrument stated interest rate (percent)                       10.00%
Aggregate principal amount                       $ 50,000,000
Conversion price (in dollar per share) | $ / shares     $ 0.64                  
Convertible debt, fair value disclosures     $ 40,600,000                  
Convertible Debt | Amended ProFrac Agreement | Reverse Stock Split                        
Debt Instrument                        
Conversion of notes to common stock (in shares) | shares     10,582,821                  
Convertible Debt | Amended ProFrac Agreement | Related Party                        
Debt Instrument                        
Conversion price (in dollar per share) | $ / shares     $ 0.8705                  
Conversion of notes to common stock (in shares) | shares 12,683,280   63,496,922 12,683,280                
Convertible notes payable       $ 11,000,000                
Paid-in-kind interest expense       $ 1,000,000                
Convertible debt, fair value disclosures     $ 40,600,000                  
Convertible Debt | Amended ProFrac Agreement | Related Party | Reverse Stock Split                        
Debt Instrument                        
Conversion of notes to common stock (in shares) | shares 2,113,880                      
Convertible Debt | Amended ProFrac Agreement | Estimate of Fair Value Measurement                        
Debt Instrument                        
Convertible debt, fair value disclosures                       $ 69,500,000
Convertible Notes Payable | Other Convertible Debt                        
Debt Instrument                        
Conversion of notes to common stock (in shares) | shares       10,335,840                
Convertible notes payable       $ 9,000,000                
Paid-in-kind interest expense       $ 800,000                
Convertible Notes Payable | Other Convertible Debt | Reverse Stock Split                        
Debt Instrument                        
Conversion of notes to common stock (in shares) | shares       1,722,640