Goodwill and Intangible Assets, Net (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Summary of Goodwill |
The following table summarizes the activity in goodwill balance for periods presented below (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural Gas Technologies |
|
|
Production Solutions |
|
|
Total |
|
|
|
Goodwill |
|
|
Accumulated
Impairment
Losses |
|
|
Goodwill, net of
Accumulated
Impairment |
|
|
Goodwill |
|
|
Accumulated
Impairment
Losses |
|
|
Goodwill, net of
Accumulated
Impairment |
|
|
Goodwill, net of
Accumulated
Impairment |
|
Balance as of December 31, 2024 |
|
$ |
|
66,325 |
|
|
$ |
|
— |
|
|
$ |
|
66,325 |
|
|
$ |
|
188,739 |
|
|
$ |
|
(5,372 |
) |
|
$ |
|
183,367 |
|
|
$ |
|
249,692 |
|
Additions to goodwill |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Goodwill impairment |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Balance as of March 31, 2025 |
|
$ |
|
66,325 |
|
|
$ |
|
— |
|
|
$ |
|
66,325 |
|
|
$ |
|
188,739 |
|
|
$ |
|
(5,372 |
) |
|
$ |
|
183,367 |
|
|
$ |
|
249,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2025 |
|
$ |
|
66,325 |
|
|
$ |
|
— |
|
|
$ |
|
66,325 |
|
|
$ |
|
188,739 |
|
|
$ |
|
(5,372 |
) |
|
$ |
|
183,367 |
|
|
$ |
|
249,692 |
|
Additions to goodwill |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
55,556 |
|
|
|
|
— |
|
|
|
|
55,556 |
|
|
|
|
55,556 |
|
Goodwill impairment |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Balance as of March 31, 2026 |
|
$ |
|
66,325 |
|
|
$ |
|
— |
|
|
$ |
|
66,325 |
|
|
$ |
|
244,295 |
|
|
$ |
|
(5,372 |
) |
|
$ |
|
238,923 |
|
|
$ |
|
305,248 |
|
|
| Schedule of Intangible Assets, Net |
Intangible assets, net, consist of the following as of March 31, 2026 and December 31, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2026 |
|
|
As of December 31, 2025 |
|
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Value |
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Value |
|
Developed technology |
|
$ |
|
97,350 |
|
|
|
|
(18,424 |
) |
|
$ |
|
78,926 |
|
|
$ |
|
97,354 |
|
|
$ |
|
(16,584 |
) |
|
$ |
|
80,770 |
|
Trade name |
|
|
|
72,110 |
|
|
|
|
(13,564 |
) |
|
|
|
58,546 |
|
|
|
|
61,010 |
|
|
|
|
(11,946 |
) |
|
|
|
49,064 |
|
Customer relationships |
|
|
|
195,264 |
|
|
|
|
(33,378 |
) |
|
|
|
161,886 |
|
|
|
|
170,264 |
|
|
|
|
(28,659 |
) |
|
|
|
141,605 |
|
Non-compete agreement |
|
|
|
6,748 |
|
|
|
|
(1,098 |
) |
|
|
|
5,650 |
|
|
|
|
2,048 |
|
|
|
|
(796 |
) |
|
|
|
1,252 |
|
Patent |
|
|
|
897 |
|
|
|
|
(24 |
) |
|
|
|
873 |
|
|
|
|
764 |
|
|
|
|
(18 |
) |
|
|
|
746 |
|
Customer contracts |
|
|
|
10,200 |
|
|
|
|
(89 |
) |
|
|
|
10,111 |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Total |
|
$ |
|
382,569 |
|
|
$ |
|
(66,577 |
) |
|
$ |
|
315,992 |
|
|
$ |
|
331,440 |
|
|
$ |
|
(58,003 |
) |
|
$ |
|
273,437 |
|
|
| Schedule of Weighted Average Remaining Useful Lives of Company's Intangible Assets |
As of March 31, 2026, the weighted average remaining useful lives for the Company's intangible assets are as follows:
|
|
|
Developed technology |
|
12.6 Years |
Trade name |
|
8.1 Years |
Customer relationships |
|
8.2 Years |
Non-compete agreement |
|
2.5 Years |
Patent |
|
18.3 Years |
Customer contracts |
|
9.4 Years |
|
| Schedule of Estimated Future Amortization Expense |
Estimated future amortization expense as of March 31, 2026 for each of the next five years and thereafter is as follows (in thousands):
|
|
|
|
|
Remainder of 2026 |
$ |
|
29,113 |
|
2027 |
|
|
38,704 |
|
2028 |
|
|
37,232 |
|
2029 |
|
|
34,908 |
|
2030 |
|
|
33,646 |
|
Thereafter |
|
|
142,389 |
|
|
$ |
|
315,992 |
|
|