v3.25.2
Condensed Consolidated Statements of Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Members' Equity
Accumulated Deficit
Accumulated Other Comprehensive Income
Beginning Balance at Dec. 31, 2023 $ 182,460     $ 203,422 $ (21,038) $ 76
Distributions (37)     (37)    
Share-based compensation 251     251    
Net income 2,122       2,122  
Ending Balance at Mar. 31, 2024 184,796     203,636 (18,916) 76
Beginning Balance at Dec. 31, 2023 182,460     203,422 (21,038) 76
Share-based compensation 497          
Net income 6,726          
Ending Balance at Jun. 30, 2024 189,607     203,844 (14,312) 75
Beginning Balance at Mar. 31, 2024 184,796     203,636 (18,916) 76
Distributions (38)     (38)    
Share-based compensation 246     246    
Net income 4,604       4,604  
Other Comprehensive loss (1)         (1)
Ending Balance at Jun. 30, 2024 189,607     203,844 (14,312) 75
Beginning Balance at Dec. 31, 2024 195,996     204,258 (8,337) 75
Share-based compensation 1,410     1,410    
Contributions 1,474     1,474    
Conversion of member's equity into common stock in initial public offering   $ 124 $ 207,018 (207,142)    
Conversion of member's equity into common stock in initial public offering, shares   123,754,000        
Issuance of common stock in initial public offering, net 154,836 $ 8 154,828      
Issuance of common stock in initial public offering, net, shares   8,421,000        
Net income (4,798)       (4,798)  
Ending Balance at Mar. 31, 2025 348,918 $ 132 361,846   (13,135) 75
Ending balance, shares at Mar. 31, 2025   132,175,000        
Beginning Balance at Dec. 31, 2024 195,996     $ 204,258 (8,337) 75
Share-based compensation 1,410          
Net income 2,009          
Ending Balance at Jun. 30, 2025 361,477 $ 132 367,598   (6,328) 75
Ending balance, shares at Jun. 30, 2025   132,322,000        
Beginning Balance at Mar. 31, 2025 348,918 $ 132 361,846   (13,135) 75
Beginning balance, shares at Mar. 31, 2025   132,175,000        
Issuance of common stock upon acquisition of Industrial Solid Propulsion 5,752   5,752      
Issuance of common stock upon acquisition of Industrial Solid Propulsion, shares   147,000        
Net income 6,807       6,807  
Ending Balance at Jun. 30, 2025 $ 361,477 $ 132 $ 367,598   $ (6,328) $ 75
Ending balance, shares at Jun. 30, 2025   132,322,000