v3.26.1
Segment information
3 Months Ended
Mar. 31, 2026
Segment information  
Segment information

Note 12 – Segment information

The Company determines operating segments based on how its CODM manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. The Company’s CODM are its Chief Executive Officer and Chief Financial Officer, who review its operating results on a consolidated basis. The Company operates in one segment and has one reportable segment.

The Company’s CODM use consolidated net income, as shown on the consolidated income statements as the measure of segment profitability. The CODM use net income to evaluate the Company’s ongoing operations and for internal planning and forecasting purposes. This analysis is used in making strategic investment decisions. The Company’s measure of segment assets is reported on the consolidated balance sheets as total assets.

The table below summarizes the significant expenses regularly provided to the CODM for the three- month periods ended March 31, 2026, and 2025 (in thousands).

  ​ ​ ​

Three-month Period Ended March 31,

2026

  ​ ​ ​

2025

(in thousands)

Revenues

$

60,151

$

55,343

Less:

Cost of materials and plant overhead

44,379

39,670

Payroll expense and benefits

8,420

8,529

Interest (income) expense

(133)

(576)

Depreciation and amortization

1,612

1,597

Professional fees

2,217

1,308

Other operating expenses1

2,059

1,164

Income taxes

1,267

893

Net income

$

330

$

2,758

1Other operating expenses include miscellaneous, individually insignificant operating expenses. The Company’s CODM reviews these items in aggregate.