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Cost Reduction Measures | 3 Months Ended
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Mar. 31, 2026
Restructuring and Related Activities [Abstract] |
Cost Reduction Measures | 12. COST REDUCTION MEASURES During the fourth quarter of 2025, the Company initiated certain cost reduction measures to better align its operating expenses with the current state of the offshore marine industry, in general, and its business, in particular. These measures include a reduction of workforce, reorganization of the management structure and streamlining of operations. As a result of the cost reduction measures taken in the fourth quarter of 2025, the Company recognized savings of $1.0 million in wages and benefits expenses for the first quarter of 2026. Management continues to focus on optimizing the cost structure and regional footprint of the business to help maintain the Company’s competitiveness in the industry, improve its operating leverage and position itself to take advantage of market opportunities.

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