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Segment information
 6 Months Ended
Jun. 30, 2025
Segment information  
Segment information

Note 12 – Segment information

The Company determines operating segments based on how its CODM manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. The Company’s CODM are its Chief Executive Officer, Chief Financial Officer and Senior Vice President of Sales and Marketing, who review its operating results on a consolidated basis. The Company operates in one segment and has one reportable segment.

The Company’s CODM use consolidated net income, as shown on the consolidated income statements as the measure of segment profitability. The CODM use net income to evaluate the Company’s ongoing operations and for internal planning and forecasting purposes. This analysis is used in making strategic investment decisions. The Company’s measure of segment assets is reported on the consolidated balance sheets as total assets.

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Six-Month Period Ended June 30,

    

2025

    

2024

(in thousands)

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Revenues

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$

128,192

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$

140,532

Less:

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​

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​

Cost of materials and plant overhead

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85,887

​

 

89,644

Payroll expense and benefits

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16,693

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15,522

Interest (income) expense

​

 

(1,227)

​

 

366

Depreciation and amortization

​

 

3,147

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3,022

Professional fees

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2,787

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3,102

Other operating expenses1

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3,879

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3,668

Income taxes

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4,100

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6,061

Net income

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$

12,926

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$

19,147

1Other operating expenses include miscellaneous, individually insignificant operating expenses. The Company’s CODM reviews these items in aggregate.