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v3.25.3

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | A summary of segment information and reconciliation to consolidated (loss) income before income taxes is as follows:
|  | Three Months Ended |
|  | September 30, 2025 |
|  | Manufacturing |  |  | Aftermarket |  |  | Corporate |  |  | Total |
Revenues |  | $ | 153,956 |  |  | $ | 6,555 |  |  | $ | - |  |  | $ | 160,511 |
Cost of sales |  |  | 131,789 |  |  |  | 4,517 |  |  |  | - |  |  |  | 136,306 |
Gross profit |  | $ | 22,167 |  |  | $ | 2,038 |  |  | $ | - |  |  | $ | 24,205 |
Other segment items (1) |  |  | 437 |  |  |  | 554 |  |  |  | 8,656 |  |  |  | 9,647 |
Operating income (loss) |  | $ | 21,730 |  |  | $ | 1,484 |  |  | $ | (8,656 | ) |  | $ | 14,558 |
Reconciliation to consolidated loss before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Consolidated interest expense |  |  |  |  |  |  |  |  |  |  |  | (4,638 | )
Loss on change in fair market value of Warrant liability |  |  |  |  |  |  |  |  |  |  |  | (17,589 | )
Consolidated other income |  |  |  |  |  |  |  |  |  |  |  | 78 |
Consolidated loss before income taxes |  |  |  |  |  |  |  |  |  |  | $ | (7,591 | )
(1) Other segment items in Manufacturing, Aftermarket and Corporate segments include selling, general and administrative expenses.
|  | Three Months Ended |
|  | September 30, 2024 |
|  | Manufacturing |  |  | Aftermarket |  |  | Corporate |  |  | Total |
Revenues |  | $ | 109,080 |  |  | $ | 4,175 |  |  | $ | - |  |  | $ | 113,255 |
Cost of sales |  |  | 94,784 |  |  |  | 2,275 |  |  |  | - |  |  |  | 97,059 |
Gross profit |  | $ | 14,296 |  |  | $ | 1,900 |  |  | $ | - |  |  | $ | 16,196 |
Other segment items (1) |  |  | 473 |  |  |  | 323 |  |  |  | 6,742 |  |  |  | 7,538 |
Operating income (loss) |  | $ | 13,823 |  |  | $ | 1,577 |  |  | $ | (6,742 | ) |  | $ | 8,658 |
Reconciliation to consolidated income before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Consolidated interest expense |  |  |  |  |  |  |  |  |  |  |  | (1,577 | )
Loss on change in fair market value of Warrant liability |  |  |  |  |  |  |  |  |  |  |  | (110,040 | )
Consolidated other expense |  |  |  |  |  |  |  |  |  |  |  | (680 | )
Consolidated loss before income taxes |  |  |  |  |  |  |  |  |  |  | $ | (103,639 | )
(1) Other segment items in Manufacturing, Aftermarket and Corporate segments include selling, general and administrative expenses.
|  | Nine Months Ended |
|  | September 30, 2025 |
|  | Manufacturing |  |  | Aftermarket |  |  | Corporate |  |  | Total |
Revenues |  | $ | 354,888 |  |  | $ | 20,536 |  |  | $ | - |  |  | $ | 375,424 |
Cost of sales |  |  | 305,685 |  |  |  | 13,319 |  |  |  | - |  |  |  | 319,004 |
Gross profit |  | $ | 49,203 |  |  | $ | 7,217 |  |  | $ | - |  |  | $ | 56,420 |
Other segment items (1) |  |  | 1,196 |  |  |  | 1,630 |  |  |  | 27,458 |  |  |  | 30,284 |
Operating income (loss) |  | $ | 48,007 |  |  | $ | 5,587 |  |  | $ | (27,458 | ) |  | $ | 26,136 |
Reconciliation to consolidated income before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Consolidated interest expense |  |  |  |  |  |  |  |  |  |  |  | (13,356 | )
Loss on change in fair market value of Warrant liability |  |  |  |  |  |  |  |  |  |  |  | (12,331 | )
Consolidated other income |  |  |  |  |  |  |  |  |  |  |  | 3,235 |
Consolidated income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 3,684 |
(1) Other segment items in Manufacturing, Aftermarket and Corporate segments include selling, general and administrative expenses.
|  | Nine Months Ended |
|  | September 30, 2024 |
|  | Manufacturing |  |  | Aftermarket |  |  | Corporate |  |  | Total |
Revenues |  | $ | 407,336 |  |  | $ | 14,393 |  |  | $ | - |  |  | $ | 421,729 |
Cost of sales |  |  | 368,318 |  |  |  | 7,382 |  |  |  | - |  |  |  | 375,700 |
Gross profit |  | $ | 39,018 |  |  | $ | 7,011 |  |  | $ | - |  |  | $ | 46,029 |
Other segment items (1) |  |  | (1,798 | ) |  |  | 1,123 |  |  |  | 21,002 |  |  |  | 20,327 |
Operating income (loss) |  | $ | 40,816 |  |  | $ | 5,888 |  |  | $ | (21,002 | ) |  | $ | 25,702 |
Reconciliation to consolidated loss before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Consolidated interest expense |  |  |  |  |  |  |  |  |  |  |  | (5,815 | )
Loss on change in fair market value of Warrant liability |  |  |  |  |  |  |  |  |  |  |  | (125,581 | )
Consolidated other expense |  |  |  |  |  |  |  |  |  |  |  | (1,419 | )
Consolidated loss before income taxes |  |  |  |  |  |  |  |  |  |  | $ | (107,113 | )
(1) Other segment items in Manufacturing include selling, general and administrative expenses and litigation settlement. Other segment items in Aftermarket and Corporate segments include selling, general and administrative expenses. A summary of segment depreciation, amortization and capital expenditures is as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 1,433 |  |  | $ | 1,331 |  |  | $ | 4,229 |  |  | $ | 3,906 |
Aftermarket |  |  | 35 |  |  |  | 36 |  |  |  | 106 |  |  |  | 121 |
Corporate |  |  | 84 |  |  |  | 75 |  |  |  | 263 |  |  |  | 225 |
Consolidated depreciation and amortization |  | $ | 1,552 |  |  | $ | 1,442 |  |  | $ | 4,598 |  |  | $ | 4,252 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 1,146 |  |  | $ | 1,277 |  |  | $ | 1,993 |  |  | $ | 3,485 |
Aftermarket |  |  | 18 |  |  |  | 15 |  |  |  | 18 |  |  |  | 15 |
Corporate |  |  | - |  |  |  | 170 |  |  |  | 91 |  |  |  | 231 |
Consolidated capital expenditures |  | $ | 1,164 |  |  | $ | 1,462 |  |  | $ | 2,102 |  |  | $ | 3,731 |
Reconciliation of Assets From Segment to Consolidated | A summary of segment assets is as follows:
|  | September 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Assets: |  |  |  |  |  |
Manufacturing |  | $ | 213,769 |  |  | $ | 165,702 |
Aftermarket |  |  | 12,404 |  |  |  | 11,014 |
Corporate |  |  | 65,063 |  |  |  | 46,361 |
Total operating assets |  |  | 291,236 |  |  |  | 223,077 |
Consolidated income taxes receivable |  |  | 49,520 |  |  |  | 1,139 |
Consolidated assets |  | $ | 340,756 |  |  | $ | 224,216 |
Geographic Information | A summary of revenues and long-lived assets by geographic information is as follows:
| Geographic Information |
|  | Revenues |  |  | Long Lived Assets (a) |
|  | Three Months Ended |  |  | Nine Months Ended |  |  |  |  |  |  |
|  | September 30, |  |  | September 30, |  |  | September 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
United States |  | $ | 160,511 |  |  | $ | 113,255 |  |  | $ | 375,424 |  |  | $ | 421,729 |  |  | $ | 3,276 |  |  | $ | 3,856 |
Mexico |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 65,607 |  |  |  | 73,755 |
Total |  | $ | 160,511 |  |  | $ | 113,255 |  |  | $ | 375,424 |  |  | $ | 421,729 |  |  | $ | 68,883 |  |  | $ | 77,611 |
(a) Long lived assets include property, plant and equipment, net and right of use (ROU) assets.

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