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Business Segment, Geographic and Major Customer Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information Regarding Reportable Segments | Summarized financial information of the reportable segments is as follows (in thousands):
As of and for the three months ended March 31, | Chemistry Technologies |  | Data Analytics |  | Corporate and Other |  | Total
2025 |  |  |  |  |  |  |
Revenue from external customers |  |  |  |  |  |  |
Products | $ | 21,263 |  |  | $ | 1,662 |  |  | $ | — |  |  | $ | 22,925 |
Services | 746 |  |  | 752 |  |  | — |  |  | 1,498 |
Total revenue from external customers | 22,009 |  |  | 2,414 |  |  | — |  |  | 24,423 |
Revenue from related party |  |  |  |  |  |  |
Products | 30,700 |  |  | — |  |  | — |  |  | 30,700 |
Services | 29 |  |  | 210 |  |  | — |  |  | 239 |
Total revenue from related parties | 30,729 |  |  | 210 |  |  | — |  |  | 30,939 |
Cost of sales | 41,295 |  |  | 1,618 |  |  | — |  |  | 42,913 |
Gross profit | 11,443 |  |  | 1,006 |  |  | — |  |  | 12,449 |
Selling, general and administrative | 2,166 |  |  | 947 |  |  | 3,169 |  |  | 6,282 |
Other segment items | 386 |  |  | 183 |  |  | 31 |  |  | 600 |
Income (loss) from operations | $ | 8,891 |  |  | $ | (124) |  |  | $ | (3,200) |  |  | $ | 5,567 |
Reconciliation of profit to income before income taxes: |  |  |  |  |  |  |
Interest expense |  |  |  |  | $ | (229) |  |  | $ | (229) |
Other income, net |  |  |  |  | 106 |  |  | 106 |
Income before income taxes |  |  |  |  |  |  | $ | 5,444 |
2024 |  |  |  |  |  |  |
Revenue from external customers |  |  |  |  |  |  |
Products | $ | 11,159 |  |  | $ | 933 |  |  | $ | — |  |  | $ | 12,092 |
Services | 526 |  |  | 562 |  |  | — |  |  | 1,088 |
Total revenue from external customers | 11,685 |  |  | 1,495 |  |  | — |  |  | 13,180 |
Revenue from related party |  |  |  |  |  |  |
Products | 27,014 |  |  | — |  |  | — |  |  | 27,014 |
Services | — |  |  | 180 |  |  | — |  |  | 180 |
Total revenue from related parties | 27,014 |  |  | 180 |  |  | — |  |  | 27,194 |
Cost of sales | 30,298 |  |  | 1,255 |  |  | — |  |  | 31,553 |
Gross profit | 8,401 |  |  | 420 |  |  | — |  |  | 8,821 |
Selling, general and administrative | 1,856 |  |  | 683 |  |  | 3,548 |  |  | 6,087 |
Other segment items | 439 |  |  | 161 |  |  | 26 |  |  | 626 |
Income (loss) from operations | $ | 6,106 |  |  | $ | (424) |  |  | $ | (3,574) |  |  | $ | 2,108 |
Reconciliation of profit to income before income taxes: |  |  |  |  |  |  |
Interest expense |  |  |  |  | (278) |  |  | (278) |
Other income, net |  |  |  |  | (26) |  |  | (26) |
Income before income taxes |  |  |  |  |  |  | $ | 1,804 |
Assets of the Company by reportable segments and corporate and other are as follows (in thousands):
| March 31, 2025 |  | December 31, 2024
Chemistry Technologies | $ | 149,345 |  |  | $ | 152,161 |
Data Analytics | 9,436 |  |  | 8,632 |
Corporate and Other | 11,456 |  |  | 10,003 |
Total assets | $ | 170,237 |  |  | $ | 170,796 |
Additions to long-lived assets by reportable segments and corporate and other are as follows (in thousands):
As of and for the three months ended March 31, | Chemistry Technologies |  | Data Analytics |  | Corporate and Other |  | Total
2025 |  |  |  |  |  |  |
Additions to long-lived assets | $ | 567 |  |  | $ | 30 |  |  | $ | 1 |  |  | $ | 598 |
2024 |  |  |  |  |  |  |
Additions to long-lived assets | $ | 147 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 152 |
Schedule of Revenue by Geographic Location | Revenue by geographic location is as follows (in thousands):
|  |  | Three months ended March 31,
|  |  |  |  | 2025 |  | 2024
U.S. (1) |  |  |  |  | $ | 51,526 |  |  | $ | 39,259 |
UAE |  |  |  |  | 3,440 |  |  | 741 |
Other countries |  |  |  |  | 396 |  |  | 374 |
Total revenue |  |  |  |  | $ | 55,362 |  |  | $ | 40,374 |
(1) Includes revenue from related party
Schedule of Revenue by Major Customers | Revenue from major customers, as a percentage of consolidated revenue, is as follows (in thousands):
|  | Revenue |  | % of Total Revenue |  |  |  |
Three months ended March 31, 2025 |  |  |  |  |  |  |  |
Customer A (related party) |  | $ | 30,939 |  |  | 55.9 | % |  |  |  |
Customer B |  | 5,821 |  |  | 10.5 | % |  |  |  |
Three months ended March 31, 2024 |  |  |  |  |  |  |  |
Customer A (related party) |  | $ | 27,194 |  |  | 67.4 | % |  |  |  |
Schedule of Expenditure With Major Suppliers by Reporting Segments | Expenditure with major suppliers, as a percentage of consolidated supplier expenditure, is as follows (in thousands):
Three months ended March 31, |  | Expenditure |  | % of Total Expenditure |  |  |  |
2025 |  |  |  |  |  |  |  |
Supplier A |  | $ | 8,577 |  |  | 24.2 | % |  |  |  |
Supplier B |  | 6,038 |  |  | 17.1 | % |  |  |  |
Supplier C |  | 4,762 |  |  | 13.5 | % |  |  |  |
2024 |  |  |  |  |  |  |  |
Supplier D |  | $ | 7,747 |  |  | 29.7 | % |  |  |  |
Supplier E |  | 5,020 |  |  | 19.2 | % |  |  |  |

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- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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