v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ (1,669) $ 3,126
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 6,722 5,365
Amortization of deferred financing costs 87 56
Non-cash lease expense 1,383 1,111
Unrealized gain on currency translation (114) 0
Provision for excess and obsolete inventory 418 0
Provision for excess and obsolete property and equipment 54 66
Provision for credit losses 217 (135)
Deferred tax expense (750) 266
Gain on sale of property (14) 0
Loss on asset disposal 37 9
Unrealized loss (gain) on equity securities 0 (249)
Gross profit from sale of lost-in-hole equipment (3,145) (2,799)
Stock-based compensation expense 541 208
Interest income on related party note receivable (91) 0
Goodwill impairment 1,901 0
Changes in operating assets and liabilities:    
Accounts receivable, net (670) (1,839)
Prepaid expenses and other current assets 572 1,723
Inventories, net 2,540 2,836
Operating lease liabilities (1,303) (1,067)
Accounts payable (3,651) (2,848)
Accrued expenses and other current liabilities (634) (2,517)
Net cash flows from operating activities 2,431 3,312
Cash flows from investing activities:    
Acquisition of a business, net of cash acquired (5,619) (18,261)
Purchase of intangible assets (681) 0
Proceeds from sale of property, plant, and equipment 14 0
Purchase of property, plant, and equipment (5,043) (6,228)
Proceeds from sale of lost-in-hole equipment 4,049 4,904
Net cash flows from investing activities (7,280) (19,585)
Cash flows from financing activities:    
Payment of deferred financing costs 0 (389)
Proceeds from Term Loan 0 25,000
Repayment of Term Loan (1,250) 0
Repayment of Promissory Note (216) 0
Proceeds from revolving line of credit 19,349 0
Repayment on revolving line of credit (16,491) 0
Net cash flows from financing activities 1,392 24,611
Effect of changes in foreign exchange rates 61 (291)
Net change in cash (3,396) 8,047
Cash at beginning of period 6,185 6,003
Cash at end of period $ 2,789 $ 14,050