Quarterly report [Sections 13 or 15(d)]

Discontinued Operations (Tables)

v3.26.1
Discontinued Operations (Tables)
 3 Months Ended
Mar. 31, 2026
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 thousands):
T&D Transaction Pressure Pumping Transaction Engineering Transaction
March 31, December 31, March 31, December 31, March 31, December 31,
2026 2025 2026 2025 2026 2025
Carrying amounts of the major classes of assets included in discontinued operations:
Cash and cash equivalents $ —  $ —  $ 43  $ 50  $ —  $ — 
Restricted cash —  —  —  —  —  — 
Accounts receivable, net —  —  1,003  1,036  —  — 
Inventories —  —  264  264  —  — 
Other current assets —  —  53  168  —  — 
Total current assets of discontinued operations —  —  1,363  1,518  —  — 
Property, plant and equipment, net —  —  6  3,678  —  — 
Operating lease right-of-use assets —  —  —  —  —  — 
Goodwill —  —  —  —  —  — 
Other non-current assets —  —  —  —  —  — 
Total noncurrent assets of discontinued operations —  —  6  3,678  —  — 
Total assets of discontinued operations $ —  $ —  $ 1,369  $ 5,196  $ —  $ — 
Carrying amounts of the major classes of liabilities included in discontinued operations:
Accounts payable $ —  $ —  $ 65  $ 41  $ —  $ — 
Accrued expenses and other current liabilities —  —  230  342  —  — 
Current operating lease liabilities —  —  —  —  —  — 
Income taxes payable —  —  —  —  —  — 
Total current liabilities of discontinued operations —  —  295  383  —  — 
Long-term operating lease liabilities —  —  —  —  —  — 
Other long-term liabilities —  —  —  —  —  — 
Total noncurrent liabilities of discontinued operations —  —  —  —  —  — 
Total liabilities of discontinued operations $ —  $ —  $ 295  $ 383  $ —  $ — 
The following tables present the major components from discontinued operations in the Company’s unaudited condensed consolidated statements of operations and comprehensive income (loss) (in thousands):
T&D Transaction Pressure Pumping Transaction Engineering Transaction
Three Months Ended March 31, Three Months Ended March 31, Three Months Ended March 31,
2026 2025 2026 2025 2026 2025
Services revenue $ —  $ 26,050  $ —  $ 20,822  $ —  $ 3,963 
COST, EXPENSES AND GAINS
Cost of revenue 2  21,547  188  18,846  —  2,932 
Selling, general and administrative 52  1,472  62  575  —  377 
Depreciation and amortization —  861  2  3,090  —  7 
Gains on disposal of assets, net —  (165) (855) (381) —  — 
Total cost, expenses and gains, net 54  23,715  (603) 22,130  —  3,316 
Operating (loss) income (54) 2,335  603  (1,308) —  647 
OTHER (INCOME) EXPENSE
Interest expense (income), net —  56  44  (97) —  (25)
Other expense, net —  5  2  1  —  — 
Total other expense (income), net —  61  46  (96) —  (25)
Loss (income) before income taxes (54) 2,274  557  (1,212) —  672 
Provision (benefit) for income taxes —  22  —  —  —  — 
Net (loss) income from discontinued operations, net of income taxes $ (54) $ 2,252  $ 557  $ (1,212) $ —  $ 672