v3.26.1
Segment information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
Financial information by reportable segment as follows:
Three months ended March 31, 2026
High-Pressure ControlsCespiraTotal Segment
Revenue$2,285 $22,249 $24,534 
Cost of revenue1,769 20,673 22,442 
Gross profit516 1,576 2,092 
Operating expenses:
Research and development948 1,480 2,428 
General and administrative551 2,262 2,813 
Sales and marketing95 261 356 
Depreciation and amortization85 874 959 
1,679 4,877 6,556 
Add back: Depreciation and amortization1
187 1,822 2,009 
Segment EBITDA$(976)$(1,479)$(2,455)
Three months ended March 31, 2025
High-Pressure ControlsHeavy-Duty OEMCespiraTotal Segment
Revenue$1,890 $5,433 $16,676 $23,999 
Cost of revenue1,377 4,411 16,230 22,018 
Gross profit513 1,022 446 1,981 
Operating expenses:
Research and development1,182 111 3,089 4,382 
General and administrative319 65 2,698 3,082 
Sales and marketing127 20 291 438 
Depreciation and amortization55 — 730 785 
1,683 196 6,808 8,687 
Add back: Depreciation and amortization1
140 — 1,620 1,760 
Segment EBITDA$(1,030)$826 $(4,742)$(4,946)
Three Months Ended March 31,
Total additions to long-lived assets, excluding business combinations20262025
High-Pressure Controls432 558 
Corporate and unallocated— 15 
Total consolidated$432 $573 
Schedule of Geographical Revenue Information
Reconciliations of reportable segment financial information to consolidated statement of operations:
Three months ended March 31, 2026
Total SegmentLess: CespiraAdd: Corporate & unallocatedTotal Consolidated
Revenue$24,534 $22,249 $— $2,285 
Cost of revenue22,442 20,673 — 1,769 
Gross profit2,092 1,576 — 516 
Operating expenses:
Research and development2,428 1,480 275 1,223 
General and administrative2,813 2,262 2,283 2,834 
Sales and marketing356 261 112 207 
Depreciation and amortization959 874 25 110 
6,556 4,877 2,695 4,374 
Equity loss— — (1,381)(1,381)
Three months ended March 31, 2025
Total SegmentLess: CespiraAdd: Corporate & unallocatedTotal Consolidated
Revenue$23,999 $16,676 $— $7,323 
Cost of revenue22,018 16,230 — 5,788 
Gross profit1,981 446 — 1,535 
Operating expenses:
Research and development4,382 3,089 — 1,293 
General and administrative3,082 2,698 2,289 2,673 
Sales and marketing438 291 296 443 
Depreciation and amortization785 730 52 107 
8,687 6,808 2,637 4,516 
Equity loss— — (3,884)(3,884)
15. Segment information (continued):

Reconciliation of Segment EBITDA to Loss before income taxesThree Months Ended March 31,
20262025
Total Segment EBITDA$(2,455)$(4,946)
Adjustments:
Depreciation and amortization1
212 192 
Cespira's Segment EBITDA(1,479)(4,742)
Loss on investments accounted for under the equity method (note 8)1,381 3,884 
Corporate and unallocated operating expenses2,670 2,585 
Foreign exchange gain (loss)1,007 (1,203)
Interest on long-term debt90 192 
Interest and other income, net of bank charges(742)(649)
Loss before income taxes in continuing operations$(5,594)$(5,205)
1Depreciation and amortization expenses used in computation for Segment EBITDA and reconciliation to consolidated loss before income taxes are included in cost of revenue and operating expenses on our statement of operations and comprehensive income (loss).
Revenues are attributable to geographical regions based on the location of the Company’s customers and are presented as a percentage of the Company's continuing revenues, as follows:
% of revenue
 Three Months Ended March 31,
 20262025
Asia56 %10 %
Americas31 %10 %
Europe13 %80 %
Schedule of Allocation of the Total Assets
The measure of segment assets evaluated by the CODM are total assets as reported on the consolidated balance sheet. Total assets are allocated as follows:
Total assets by segment
March 31, 2026December 31, 2025
High-Pressure Controls18,594 17,392 
Corporate & unallocated66,467 76,617 
Total consolidated assets$85,061 $94,009