Annual report [Section 13 and 15(d), not S-K Item 405]

Discontinued Operations (Tables)

v3.25.4
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Major Components of Discontinued Operations
The following table presents the major classes of assets and liabilities of discontinued operations in the Company’s consolidated balance sheets (in thousands):
T&D Transaction Pressure Pumping Transaction Engineering Transaction
December 31, December 31, December 31,
2025 2024 2025 2024 2025 2024
Carrying amounts of the major classes of assets included in discontinued operations:
Cash and cash equivalents $ —  $ —  $ 50  $ 122  $ —  $ — 
Restricted cash —  2,000  —  —  —  — 
Accounts receivable, net —  22,408  1,036  12,843  —  3,097 
Inventories —  —  264  8,271  —  — 
Other current assets —  404  168  338  —  526 
Total current assets of discontinued operations —  24,812  1,518  21,574  —  3,623 
Property, plant and equipment, net —  13,190  3,678  35,166  —  74 
Operating lease right-of-use assets —  1,202  —  494  —  768 
Goodwill —  —  —  9,214  —  — 
Other non-current assets —  75  —  —  —  — 
Total noncurrent assets of discontinued operations —  14,467  3,678  44,874  —  842 
Total assets of discontinued operations $ —  $ 39,279  $ 5,196  $ 66,448  $ —  $ 4,465 
Carrying amounts of the major classes of liabilities included in discontinued operations:
Accounts payable $ —  $ 4,673  $ 41  $ 14,346  $ —  $ 1,333 
Accrued expenses and other current liabilities —  6,621  342  784  —  972 
Current operating lease liabilities —  248  —  302  —  258 
Total current liabilities of discontinued operations —  11,542  383  15,432  —  2,563 
Long-term operating lease liabilities —  954  —  —  —  522 
Other long-term liabilities —  6,415  —  —  —  31 
Total noncurrent liabilities of discontinued operations —  7,369  —  —  —  553 
Total liabilities of discontinued operations $ —  $ 18,911  $ 383  $ 15,432  $ —  $ 3,116 
The following table presents the major components from discontinued operations in the Company’s consolidated statements of operations and comprehensive income (loss) (in thousands):

T&D Transaction Pressure Pumping Transaction Engineering Transaction
Years Ended December 31, Years Ended December 31, Years Ended December 31,
2025 2024 2025 2024 2025 2024
Services revenue $ 29,553  $ 91,644  $ 41,916  $ 33,425  $ 14,572  $ 17,263 
COST, EXPENSES AND GAINS
Cost of revenue 26,450  76,431  43,255  38,769  11,171  13,017 
Selling, general and administrative 1,910  6,245  1,728  2,339  1,489  1,769 
Depreciation and amortization 957  2,573  5,766  10,761  20  29 
(Gains) losses on disposal of assets, net (20) (1,304) (1,233) 52  —  — 
Impairment of goodwill —  —  9,214  —  —  — 
Impairment of long-lived assets —  —  597  —  —  — 
Total cost, expenses and gains, net 29,297  83,945  59,327  51,921  12,680  14,815 
Operating income (loss) 256  7,699  (17,411) (18,496) 1,892  2,448 
OTHER (INCOME) EXPENSE
Interest expense (income), net 59  13,942  (348) 1,769  (470) (6)
Other (income) expense, net (29) 55  279  2  (58) — 
(Gain) loss on divestiture (83,747) —  24,974  —  (24,635) — 
Total other (income) expense, net (83,717) 13,997  24,905  1,771  (25,163) (6)
Income (loss) before income taxes 83,973  (6,298) (42,316) (20,267) 27,055  2,454 
Provision (benefit) for income taxes 1,617  90  (1,262) —  4  13 
Net income (loss) from discontinued operations, net of income taxes $ 82,356  $ (6,388) $ (41,054) $ (20,267) $ 27,051  $ 2,441