v3.25.2
Contract Assets (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue Recognition [Abstract]  
Schedule of Outstanding Contract Assets
Contract assets are as follows (in thousands):
June 30, 2025December 31, 2024
Contract assets$83,060 $83,060 
Less accumulated amortization(16,931)(14,016)
Contract assets, net66,129 69,044 
Less current contract assets(6,743)(5,939)
Contract assets, long term$59,386 $63,105 
The below table reflects our estimated amortization per year (in thousands) based on the Company’s current forecasted revenues from the ProFrac Agreement.
Years ending December 31,Amortization
2025 (excluding first six months)
$2,798 
20269,006 
202710,347 
202810,347 
202910,347 
Thereafter through May 203223,284 
Total contract assets$66,129