Quarterly report [Sections 13 or 15(d)]

Reportable Segments (Tables)

v3.25.1
Reportable Segments (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment The following tables set forth certain financial information with respect to the Company’s reportable segments (in thousands):
Three Months Ended March 31, 2025 Well Completion Infrastructure Sand Other Total
Revenue from external and related party customers $ 20,875  $ 30,725  $ 6,738  $ 4,127  $ 62,465 
Intersegment revenue 46  —  1  (47) — 
Total revenue 20,921  30,725  6,739  4,080  62,465 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties 18,598  25,400  5,476  3,918  53,392 
Intersegment cost of revenue 198  —  —  (198) — 
Total cost of revenue 18,796  25,400  5,476  3,720  53,392 
Selling, general and administrative, exclusive of stock based compensation 976  3,763  865  726  6,330 
Adjusted EBITDA $ 1,149  $ 1,562  $ 398  $ (366) $ 2,743 
Reconciliation of net (loss) income to Adjusted EBITDA:
Net (loss) income $ (1,494) $ (338) $ (451) $ 1,746  $ (537)
Depreciation, depletion, amortization and accretion 3,068  920  877  1,176  6,041 
Gains on disposal of assets, net (381) (165) —  (3,472) (4,018)
Stock based compensation 55  107  37  12  211 
Interest (income) expense and financing charges, net (100) (12) (86) 45  (153)
Other expense (income), net 1  421  21  (104) 339 
Provision for income taxes —  629  —  231  860 
Adjusted EBITDA $ 1,149  $ 1,562  $ 398  $ (366) $ 2,743 
Total purchases of property, plant and equipment $ 4,341  $ 2,630  $ 93  $ 167  $ 7,231 
Three Months Ended March 31, 2024 Well Completion Infrastructure Sand Other Total
Revenue from external and related party customers $ 7,925  $ 25,038  $ 4,307  $ 5,919  $ 43,189 
Intersegment revenue 109  —  —  (109) — 
Total revenue 8,034  25,038  4,307  5,810  43,189 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties 7,736  21,533  5,731  5,584  40,584 
Intersegment cost of revenue 191  25  —  (216) — 
Total cost of revenue 7,927  21,558  5,731  5,368  40,584 
Selling, general and administrative, exclusive of stock based compensation 966  5,500  992  1,105  8,563 
Interest on trade accounts receivable —  (10,485) —  —  (10,485)
Adjusted EBITDA $ (859) $ 8,465  $ (2,416) $ (663) $ 4,527 
Reconciliation of net loss to Adjusted EBITDA:
Net loss $ (4,720) $ (405) $ (3,681) $ (3,005) $ (11,811)
Depreciation, depletion, amortization and accretion 3,087  718  1,146  2,070  7,021 
Loss (gains) on disposal of assets, net 250  (483) —  (933) (1,166)
Stock based compensation 42  117  37  23  219 
Interest expense and financing charges, net, inclusive of related parties 481  7,099  83  474  8,137 
Other expense (income), net 1  (10,258) (1) 115  (10,143)
Provision for income taxes —  1,192  —  593  1,785 
Interest on trade accounts receivable —  10,485  —  —  10,485 
Adjusted EBITDA $ (859) $ 8,465  $ (2,416) $ (663) $ 4,527 
Total purchases of property, plant and equipment $ 3,414  $ 590  $ —  $ 147  4,151 
Well Completion Infrastructure Sand Other Total
As of March 31, 2025:
Total assets $ 62,701  $ 151,483  $ 112,015  $ 48,155  $ 374,354 
As of December 31, 2024:
Total assets $ 61,728  $ 150,531  $ 118,855  $ 52,917  $ 384,031