Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Lea & Eddy Holdings, LLC | |
| Related Party Transaction [Line Items] | |
| Related Party Transactions | 10. Related Party Transactions The Company reviewed its agreements and relationships to identify related party transactions. The Company has entered into transactions with a related party, which shares common ownership and significant influence over management. The Company’s transactions with the related party were in connection with water treatment services where the related party acted as the contractor providing treated water services to the Company and in certain instances purchased water from the Company. The Company recognized $0.1 million of related party revenues for the three months ended March 31, 2026. No revenue was recognized from sales to related party for the three months ended March 31, 2025. The Company incurred related party cost of sales of approximately $2.9 million and $1.1 million relating to water treatment services and less than $0.1 million and less than $0.1 million of miscellaneous general and administrative expenses, respectively. As of March 31, 2026 and December 31, 2025, the Company had no receivables from related party. As of March 31, 2026 and December 31, 2025 the Company had approximately $1.8 million and $2.7 million due to related party, respectively. During the three months ended March 31, 2025, the Company reimbursed a member related to the purchase of property, plant and equipment in the amount of $0.1 million. For the three months ended March 31, 2025, the Company incurred approximately $0.1 million in transportation service costs with an entity in which a director holds an indirect equity interest. In 2025, the Company amended its Amended and Restated Limited Liability Company Agreement to increase the number of seats on the Board of Managers, two of which were designated for representatives of lenders under the Predecessor Credit Facility. This amendment granted such lenders board representation and enhanced governance rights with respect to the Company. As a result, the lenders are considered related parties and the Company classifies the Predecessor Credit Facility as long-term debt - related party and the related warrants as warrants - related party in the condensed consolidated financial statements. There were no other significant transactions or balances with related parties for the three months ended March 31, 2026 and 2025. |