Quarterly report [Sections 13 or 15(d)]

Reportable Segments (Tables)

v3.26.1
Reportable Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting The following tables set forth certain financial information with respect to the Company’s reportable segments (in thousands):
Three Months Ended June 30, 2026 Rentals Infrastructure Sand Accommodations Drilling Total
Revenue from external and related party customers $ 10,115  $ 940  $ 7,975  $ 3,202  $ 3,822  $ 26,054 
Intersegment revenue 108  —  —  —  —  108 
10,223  940  7,975  3,202  3,822  26,162 
Reconciliation of Revenue
Other(b)
48 
Eliminations(a)
(156)
Total consolidated revenue $ 26,054 
Less segment expenses:
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties 4,722  1,540  7,713  2,118  2,972 
Selling, general and administrative, exclusive of stock based compensation 1,775  290  685  288  230 
Segment Adjusted EBITDA $ 3,726  $ (890) $ (423) $ 796  $ 620  $ 3,829 
Reconciliation of total segment Adjusted EBITDA
Less:
Other(b)
$ 1,208 
Depreciation, depletion, amortization and accretion 4,634 
Gains on disposal of assets, net (4,641)
Equity based compensation 544 
Interest expense, net 784 
Loss on marketable securities, net 1,116 
Other income, net (471)
Income from continuing operations before income taxes $ 655 
Three Months Ended June 30, 2025 Rentals Infrastructure Sand Accommodations Drilling Total
Revenue from external and related party customers $ 3,078  $ 1,389  $ 5,376  $ 1,767  $ 743  $ 12,353 
Intersegment revenue 28  —  —  —  —  28 
3,106  1,389  5,376  1,767  743  12,381 
Reconciliation of Revenue
Eliminations(a)
(28)
Total consolidated revenue $ 12,353 
Less segment expenses:
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties $ 1,567  $ 1,355  $ 5,262  $ 1,242  $ 758 
Selling, general and administrative, exclusive of stock based compensation 1,121  203  1,386  407  210 
Segment Adjusted EBITDA $ 418  $ (169) $ (1,272) $ 118  $ (225) $ (1,130)
Reconciliation of total segment Adjusted EBITDA
Less:
Other(b)
$ 2,378 
Depreciation, depletion, amortization and accretion 2,827 
Gains on disposal of assets, net (1,077)
Impairment of long-lived assets 31,669 
Stock based compensation 200 
Interest income, net (298)
Other expense, net 628 
Loss from continuing operations before income taxes $ (37,457)
Six Months Ended June 30, 2026 Rentals Infrastructure Sand Accommodations Drilling Total
Revenue from external and related party customers $ 23,050  $ 1,208  $ 11,839  $ 6,743  $ 5,245  $ 48,085 
Intersegment revenue 140  —  —  —  —  140 
23,190  1,208  11,839  6,743  5,245  48,225 
Reconciliation of Revenue
Other(b)
96 
Eliminations(a)
(236)
Total consolidated revenue $ 48,085 
Less segment expenses:
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties $ 12,781  $ 2,051  $ 12,168  $ 4,257  $ 4,164 
Selling, general and administrative, exclusive of stock based compensation 3,043  476  1,538  620  482 
Segment Adjusted EBITDA $ 7,366  $ (1,319) $ (1,867) $ 1,866  $ 599  $ 6,645 
Reconciliation of total segment Adjusted EBITDA
Less:
Other(b)
$ 2,096 
Depreciation, depletion, amortization and accretion 8,104 
Gains on disposal of assets, net (5,316)
Equity based compensation 544 
Interest expense, net 270 
Gain on marketable securities, net (5,987)
Other expense, net 138 
Income from continuing operations before income taxes $ 6,796 
Six Months Ended June 30, 2025 Rentals Infrastructure Sand Accommodations Drilling Total
Revenue from external and related party customers $ 4,994  $ 2,102  $ 12,115  $ 3,847  $ 925  $ 23,983 
Intersegment revenue 38  —  —  —  —  38 
5,032  2,102  12,115  3,847  925  24,021 
Reconciliation of Revenue
Eliminations(a)
(38)
Total consolidated revenue $ 23,983 
Less segment expenses:
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties $ 2,984  $ 2,229  $ 10,738  $ 2,673  $ 1,154 
Selling, general and administrative, exclusive of stock based compensation 1,488  323  2,816  796  420 
Segment Adjusted EBITDA $ 560  $ (450) $ (1,439) $ 378  $ (649) $ (1,600)
Reconciliation of total segment Adjusted EBITDA
Less:
Other(b)
$ 4,248 
Depreciation, depletion, amortization and accretion 4,910 
Gains on disposal of assets, net (4,549)
Impairment of other long-lived assets 31,669 
Stock based compensation 412 
Interest income, net (383)
Other expense, net 960 
Loss from continuing operations before income taxes $ (38,867)
(a) Includes eliminations for intersegment transactions.
(b) Includes activity related to non-operating legacy services that are no longer active.

Rentals Infrastructure Sand Accommodations Drilling Total
As of June 30, 2026:
Total assets for reportable segments $ 126,384  $ 13,192  $ 69,282  $ 14,076  $ 5,080  $ 228,014 
Other assets(a)
116,608 
Total consolidated assets, excluding discontinued operations $ 344,622 
As of December 31, 2025:
Total assets for reportable segments $ 75,004  $ 2,598  $ 68,028  $ 14,309  $ 1,859  $ 161,798 
Other assets(a)
167,900 
Total consolidated assets, excluding discontinued operations $ 329,698 
(a) Includes assets related to non-operating legacy services that are no longer active as well as corporate related assets, which include cash and cash equivalents, marketable securities, restricted cash and other current assets.