v3.25.1
Property and Equipment (Tables)
3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Summary of Property and Equipment

A summary of property and equipment as of March 31, 2025 and December 31, 2024 is as follows:

 

(in thousands)

 

March 31,
2025

 

 

December 31,
2024

 

Land

 

$

25,709

 

 

$

25,075

 

Buildings, building improvements and leasehold improvements

 

 

72,509

 

 

 

75,689

 

Manufacturing machinery and equipment

 

 

68,227

 

 

 

64,088

 

Rental tools

 

 

59,030

 

 

 

54,456

 

Office equipment and computer software

 

 

4,978

 

 

 

4,516

 

Vehicles

 

 

18,714

 

 

 

19,638

 

Right of use leases – finance

 

 

21,310

 

 

 

20,689

 

Total Property and equipment

 

 

270,477

 

 

 

264,151

 

Less: Accumulated depreciation and amortization

 

 

(82,051

)

 

 

(73,365

)

Net Property and equipment

 

$

188,426

 

 

$

190,786