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Segment Information | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information Our business is aggregated into the following two reportable segments: •Mobile Solutions, which is focused on growth in the automotive, general industrial, and medical end markets; and •Power Solutions, which is focused on growth in the electrical, general industrial, automotive, and medical end markets. These components are operating segments as each has engaged in business activities for which it earns revenues and incurs expenses, discrete financial information is available for each, and this is the level at which the chief operating decision maker (“CODM”) reviews discrete financial information for purposes of allocating resources and assessing performance. The CODM, who is our President and Chief Executive Officer, uses segment income (loss) from operations to evaluate the performance of our segments each quarter and for annual forecasting purposes. Income (loss) from operations is used to make key operating decisions, such as the amount and timing of capital expenditures, plant optimization actions, and allocation of management resources. In addition to our two reportable segments, we report a Corporate category, which includes corporate costs and unallocated expenses. The following tables reconcile segment revenues to consolidated loss before benefit (provision) for income taxes and share of net income from joint venture.
Three Months Ended June 30, 2025 | Mobile Solutions |  | Power Solutions |  | Corporate and Eliminations |  | Total
Sales | $ | 63,391 |  |  | $ | 44,641 |  |  | (111) |  |  | $ | 107,921 |
Cost of sales | 55,817 |  |  | 33,997 |  |  | (115) |  |  | 89,699 |
Selling, general, and administrative expense | 3,785 |  |  | 2,387 |  |  | 5,923 |  |  | 12,095 |
Depreciation expense | 4,294 |  |  | 804 |  |  | 414 |  |  | 5,512 |
Other segment items (1) | 605 |  |  | 1,671 |  |  | (197) |  |  | 2,079 |
Segment income (loss) from operations | $ | (1,110) |  |  | $ | 5,782 |  |  | $ | (6,136) |  |  | $ | (1,464) |
Interest expense |  |  |  |  |  |  | 5,657 |
Loss on extinguishment of debt |  |  |  |  |  |  | 3,007 |
Other income, net |  |  |  |  |  |  | (619) |
Loss before benefit (provision) for income taxes and share of net income from joint venture |  |  |  |  |  |  | $ | (9,509) |
Three Months Ended June 30, 2024 | Mobile Solutions |  | Power Solutions |  | Corporate and Eliminations |  | Total
Sales | $ | 72,855 |  |  | $ | 50,151 |  |  | (14) |  |  | $ | 122,992 |
Cost of sales | 62,968 |  |  | 38,310 |  |  | (21) |  |  | 101,257 |
Selling, general, and administrative expense | 4,190 |  |  | 3,604 |  |  | 5,717 |  |  | 13,511 |
Depreciation expense | 6,870 |  |  | 1,078 |  |  | 357 |  |  | 8,305 |
Other segment items (1) | 457 |  |  | 1,839 |  |  | (230) |  |  | 2,066 |
Segment income (loss) from operations | $ | (1,630) |  |  | $ | 5,320 |  |  | $ | (5,837) |  |  | $ | (2,147) |
Interest expense |  |  |  |  |  |  | 5,873 |
Other income, net |  |  |  |  |  |  | (3,461) |
Loss before benefit (provision) for income taxes and share of net income from joint venture |  |  |  |  |  |  | $ | (4,559) |
Six Months Ended June 30, 2025 | Mobile Solutions |  | Power Solutions |  | Corporate and Eliminations |  | Total
Sales | $ | 125,635 |  |  | $ | 88,149 |  |  | (175) |  |  | $ | 213,609 |
Cost of sales | 112,267 |  |  | 69,265 |  |  | (187) |  |  | 181,345 |
Selling, general, and administrative expense | 7,323 |  |  | 5,069 |  |  | 10,873 |  |  | 23,265 |
Depreciation expense | 8,503 |  |  | 1,584 |  |  | 794 |  |  | 10,881 |
Other segment items (1) | 1,339 |  |  | 3,426 |  |  | (394) |  |  | 4,371 |
Segment income (loss) from operations | $ | (3,797) |  |  | $ | 8,805 |  |  | $ | (11,261) |  |  | $ | (6,253) |
Interest expense |  |  |  |  |  |  | 10,851 |
Loss on extinguishment of debt |  |  |  |  |  |  | 3,007 |
Other income, net |  |  |  |  |  |  | (2,788) |
Loss before benefit (provision) for income taxes and share of net income from joint venture |  |  |  |  |  |  | $ | (17,323) |
Six Months Ended June 30, 2024 | Mobile Solutions |  | Power Solutions |  | Corporate and Eliminations |  | Total
Sales | $ | 145,915 |  |  | $ | 98,389 |  |  | (114) |  |  | $ | 244,190 |
Cost of sales | 126,055 |  |  | 76,420 |  |  | (132) |  |  | 202,343 |
Selling, general, and administrative expense | 7,975 |  |  | 6,864 |  |  | 12,020 |  |  | 26,859 |
Depreciation expense | 14,442 |  |  | 2,127 |  |  | 827 |  |  | 17,396 |
Other segment items (1) | 1,216 |  |  | 3,679 |  |  | (373) |  |  | 4,522 |
Segment income (loss) from operations | $ | (3,773) |  |  | $ | 9,299 |  |  | $ | (12,456) |  |  | $ | (6,930) |
Interest expense |  |  |  |  |  |  | 11,239 |
Other expense, net |  |  |  |  |  |  | 692 |
Loss before benefit (provision) for income taxes and share of net income from joint venture |  |  |  |  |  |  | $ | (18,861) |
_______________________________ (1) Other segment items includes amortization expense and other operating expenses and income. The following table presents capital expenditures and depreciation and amortization by reportable segment.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Capital expenditures: |  |  |  |  |  |  |
Mobile Solutions | $ | 2,865 |  |  | $ | 2,354 |  |  | $ | 5,531 |  |  | $ | 6,182 |
Power Solutions | 338 |  |  | 1,041 |  |  | 1,212 |  |  | 2,036 |
Corporate | 520 |  |  | 197 |  |  | 887 |  |  | 834 |
Total | $ | 3,723 |  |  | $ | 3,592 |  |  | $ | 7,630 |  |  | $ | 9,052 |
Depreciation and amortization: |  |  |  |  |  |  |
Mobile Solutions | $ | 5,133 |  |  | $ | 7,710 |  |  | $ | 10,180 |  |  | $ | 16,119 |
Power Solutions | 3,371 |  |  | 3,694 |  |  | 6,718 |  |  | 7,362 |
Corporate | 414 |  |  | 357 |  |  | 794 |  |  | 827 |
Total | $ | 8,918 |  |  | $ | 11,761 |  |  | $ | 17,692 |  |  | $ | 24,308 |
The following table summarizes total assets by reportable segment.
| June 30, 2025 |  | December 31, 2024
Mobile Solutions (1) | $ | 297,796 |  |  | $ | 294,204 |
Power Solutions | 131,057 |  |  | 124,460 |
Corporate | 31,907 |  |  | 38,229 |
Total | $ | 460,760 |  |  | $ | 456,893 |
_______________________________ (1) Total assets in Mobile Solutions includes $40.3 million and $35.0 million as of June 30, 2025 and December 31, 2024, respectively, related to our investment in a joint venture (see Note 7).

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- Definition The entire disclosure for reporting segments including data and tables. 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