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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2020
Accounting Policies [Abstract] |
Disaggregation of Revenue | The following table shows the Company's revenue disaggregated by product or service type for the three and six months ended June 30, 2020 and 2019:
| Three months ended June 30, |  |  |  | Six months ended June 30, |  |
| (in thousands) |  |  |  | (in thousands) |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
Compressors - sales | $ | 1,360 |  |  | $ | 4,788 |  |  | $ | 2,212 |  |  | $ | 7,496 |
Flares - sales | 160 |  |  | 106 |  |  | 240 |  |  | 541 |
Other (parts/rebuilds) - sales | 488 |  |  | 920 |  |  | 1,006 |  |  | 1,902 |
Service and maintenance | 266 |  |  | 509 |  |  | 606 |  |  | 988 |
Total revenue from contracts with customers | 2,274 |  |  | 6,323 |  |  | 4,064 |  |  | 10,927 |
Add: ASC 842 rental revenue | 15,131 |  |  | 13,572 |  |  | 31,231 |  |  | 26,959 |
Total revenue | $ | 17,405 |  |  | $ | 19,895 |  |  | $ | 35,295 |  |  | $ | 37,886 |
Schedule of Contract with Customer, Asset and Liability | As of June 30, 2020 and December 31, 2019, we had the following receivables and deferred income from contracts with customers:
| (in thousands) |  |
| June 30, 2020 |  | December 31, 2019
Accounts Receivable |  |  |
Accounts receivable - contracts with customers | $ | 3,176 |  |  | $ | 3,061 |
Accounts receivable - ASC 842 | 9,470 |  |  | 6,963 |
Total Accounts Receivable | $ | 12,646 |  |  | $ | 10,024 |
Less: Allowance for doubtful accounts | (972) |  |  | (918) |
Total Accounts Receivable, net | $ | 11,674 |  |  | $ | 9,106 |
Deferred income | $ | 125 |  |  | $ | 640 |
Schedules of Revisions of Prior Period Financial Statements | The following is a summary of the revisions to our unaudited, condensed consolidated financial statements for the three and six months ended June 30, 2019: Revised Condensed Consolidated Statements of Operations
|  | For the three months ended June 30, 2019 |  |  |  |
($ in thousands) |  | As Reported |  | Revisions |  | As Revised
Total revenue |  | $ | 19,895 |  |  | $ | — |  |  | $ | 19,895 |
Operating costs and expenses: |  |  |  |  |  |
Cost of rentals, exclusive of depreciation stated separately below |  | 6,359 |  |  | 254 |  |  | 6,613 |
Depreciation and amortization |  | 5,683 |  |  | 37 |  |  | 5,720 |
Total operating costs and expenses |  | 19,302 |  |  | 291 |  |  | 19,593 |
Operating income (loss) |  | 593 |  |  | (291) |  |  | 302 |
Income before provision for income taxes |  | 770 |  |  | (291) |  |  | 479 |
Income tax (expense) benefit |  | (197) |  |  | 45 |  |  | (152) |
Net income (loss) |  | 573 |  |  | (246) |  |  | 327 |
Earnings (loss) per share, basic |  | 0.04 |  |  | (0.02) |  |  | 0.02 |
Earnings (loss) per share, diluted |  | 0.04 |  |  | (0.02) |  |  | 0.02 |
|  | For the six months ended June 30, 2019 |  |  |  |
($ in thousands) |  | As Reported |  | Revisions |  | As Revised
Total revenue |  | $ | 37,886 |  |  | $ | — |  |  | $ | 37,886 |
Operating costs and expenses: |  |  |  |  |  |
Cost of rentals, exclusive of depreciation stated separately below |  | 12,244 |  |  | 589 |  |  | 12,833 |
Depreciation and amortization |  | 11,241 |  |  | 56 |  |  | 11,297 |
Total operating costs and expenses |  | 37,084 |  |  | 645 |  |  | 37,729 |
Operating income (loss) |  | 802 |  |  | (645) |  |  | 157 |
Income before provision for income taxes |  | 1,280 |  |  | (645) |  |  | 635 |
Income tax (expense) benefit |  | (350) |  |  | 140 |  |  | (210) |
Net income (loss) |  | 930 |  |  | (505) |  |  | 425 |
Earnings (loss) per share, basic |  | 0.07 |  |  | (0.04) |  |  | 0.03 |
Earnings (loss) per share, diluted |  | 0.07 |  |  | (0.04) |  |  | 0.03 |
Revised Condensed Consolidated Statement of Stockholders' Equity
|  | For the six months ended June 30, 2019 |  |  |  |
($ in thousands) |  | As Reported |  | Revisions |  | As Revised
Retained earnings balance at January 1, 2019 |  | $ | 152,291 |  |  | $ | (949) |  |  | $ | 151,342 |
Total stockholders' equity at January 1, 2019 |  | 260,181 |  |  | (949) |  |  | 259,232 |
Net income (loss) for the three months ended March 31, 2019 |  | 357 |  |  | (259) |  |  | 98 |
Retained earnings balance at March 31, 2019 |  | 152,648 |  |  | (1,208) |  |  | 151,440 |
Total stockholders' equity at March 31, 2019 |  | 261,396 |  |  | (1,208) |  |  | 260,188 |
Net income (loss) for the three months ended June 30, 2019 |  | 573 |  |  | (246) |  |  | 327 |
Retained earnings balance at June 30, 2019 |  | 153,221 |  |  | (1,454) |  |  | 151,767 |
Total stockholders' equity at June 30, 2019 |  | 262,570 |  |  | (1,454) |  |  | 261,116 |
Revised Condensed Consolidated Statement of Cash Flows
|  | For the six months ended June 30, 2019 |  |  |  |
($ in thousands) |  | As Reported |  | Revisions |  | As Revised
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 930 |  |  | $ | (505) |  |  | $ | 425 |
Depreciation and amortization |  | 11,241 |  |  | 56 |  |  | 11,297 |
Deferred taxes |  | 356 |  |  | (137) |  |  | 219 |
Inventory decrease |  | 1,200 |  |  | 1,111 |  |  | 2,311 |
Prepaid expenses and prepaid income taxes increase |  | (22) |  |  | (203) |  |  | (225) |
Net cash provided by operating activities |  | 6,447 |  |  | 322 |  |  | 6,769 |
Cash flows from operating activities: |  |  |  |  |  |
Purchase of rental equipment, property and other equipment |  | (29,402) |  |  | (322) |  |  | (29,724) |
Net cash used in investing activities |  | (29,476) |  |  | (322) |  |  | (29,798) |
Net change in cash and cash equivalents |  | (22,717) |  |  | — |  |  | (22,717) |

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