| Summary of Financial Information of Operating Segments |
Summarized financial information of our operating segments is shown in the following table (in thousands):
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Reservoir
Description |
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Production
Enhancement |
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Corporate &
Other (1) |
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Consolidated |
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Three months ended June 30, 2026 |
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CODM Measure - Revenue from unaffiliated clients |
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$ |
78,747 |
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$ |
45,862 |
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$ |
— |
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$ |
124,609 |
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Reconciliation of CODM measure - revenue from unaffiliated clients to segment operating income: |
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Inter-segment revenue |
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51 |
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32 |
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(83 |
) |
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— |
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Cost of services and product sales |
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65,335 |
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35,874 |
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162 |
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101,371 |
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General and administrative expense (2) |
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7,140 |
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3,813 |
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— |
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10,953 |
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Depreciation and amortization |
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2,760 |
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1,065 |
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— |
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3,825 |
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Other operating (income) expense, net (3) |
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(184 |
) |
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(198 |
) |
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(528 |
) |
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(910 |
) |
Foreign exchange (gain) loss, net (3) |
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69 |
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112 |
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38 |
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219 |
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CODM Measure - Segment operating income |
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3,678 |
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5,228 |
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245 |
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9,151 |
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Supplemental Disclosures: |
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Total assets |
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329,630 |
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143,925 |
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113,223 |
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586,778 |
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Capital expenditures |
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4,625 |
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1,109 |
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35 |
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5,769 |
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Three months ended June 30, 2025 |
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CODM Measure - Revenue from unaffiliated clients |
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$ |
86,280 |
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$ |
43,879 |
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$ |
— |
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$ |
130,159 |
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Reconciliation of CODM measure - revenue from unaffiliated clients to segment operating income: |
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Inter-segment revenue |
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41 |
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46 |
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(87 |
) |
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— |
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Cost of services and product sales |
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66,940 |
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36,376 |
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385 |
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103,701 |
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General and administrative expense (2) |
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6,816 |
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3,648 |
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— |
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10,464 |
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Depreciation and amortization |
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2,645 |
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1,025 |
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— |
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3,670 |
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Other operating (income) expense, net (3) |
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(2,472 |
) |
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(90 |
) |
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(412 |
) |
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(2,974 |
) |
Foreign exchange (gain) loss, net (3) |
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189 |
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(182 |
) |
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— |
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7 |
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CODM Measure - Segment operating income |
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12,203 |
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3,148 |
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(60 |
) |
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15,291 |
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Supplemental Disclosures: |
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Total assets (4) |
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316,882 |
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146,907 |
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133,046 |
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596,835 |
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Capital expenditures |
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3,753 |
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575 |
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— |
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4,328 |
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Six months ended June 30, 2026 |
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CODM Measure - Revenue from unaffiliated clients |
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$ |
160,678 |
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$ |
85,728 |
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$ |
— |
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$ |
246,406 |
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Reconciliation of CODM measure - revenue from unaffiliated clients to segment operating income: |
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Inter-segment revenue |
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169 |
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61 |
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(230 |
) |
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— |
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Cost of services and product sales |
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133,442 |
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69,503 |
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499 |
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203,444 |
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General and administrative expense (2) |
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17,110 |
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8,561 |
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— |
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25,671 |
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Depreciation and amortization |
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5,539 |
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2,050 |
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— |
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7,589 |
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Other operating (income) expense, net (3) |
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(615 |
) |
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(329 |
) |
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(991 |
) |
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(1,935 |
) |
Foreign exchange (gain) loss, net (3) |
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547 |
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(28 |
) |
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80 |
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599 |
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CODM Measure - Segment operating income |
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4,824 |
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6,032 |
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182 |
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11,038 |
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Supplemental Disclosures: |
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Total assets |
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329,630 |
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143,925 |
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113,223 |
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586,778 |
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Capital expenditures |
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9,133 |
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1,415 |
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|
111 |
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10,659 |
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Six months ended June 30, 2025 |
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CODM Measure - Revenue from unaffiliated clients |
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$ |
167,177 |
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$ |
86,567 |
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$ |
— |
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$ |
253,744 |
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Reconciliation of CODM measure - revenue from unaffiliated clients to segment operating income: |
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Inter-segment revenue |
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57 |
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114 |
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(171 |
) |
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— |
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Cost of services and product sales |
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131,545 |
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71,137 |
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488 |
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203,170 |
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General and administrative expense (2) |
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15,854 |
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8,257 |
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— |
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24,111 |
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Depreciation and amortization |
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5,260 |
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2,127 |
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— |
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7,387 |
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Other operating (income) expense, net (3) |
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(344 |
) |
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448 |
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(1,223 |
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(1,119 |
) |
Foreign exchange (gain) loss, net (3) |
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377 |
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61 |
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49 |
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487 |
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CODM Measure - Segment operating income |
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14,542 |
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4,651 |
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|
515 |
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19,708 |
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Supplemental Disclosures: |
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Total assets (4) |
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316,882 |
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146,907 |
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133,046 |
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596,835 |
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Capital expenditures |
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6,175 |
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1,704 |
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28 |
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7,907 |
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(1) "Corporate & Other" represents those items that are not directly related to a particular operating segment and eliminations.(2) General and administrative expense is presented as a total amount to the CODM and consists primarily of employee compensation costs, professional fees and information technology costs. (3) Other operating (income) expense, net and foreign currency exchange (loss), net are included in the consolidated statement of operations as other (income) expense, net. See Note 12 - Other (income) expense, net for further details. (4) Total assets at June 30, 2025 included in the Reservoir Description operating segment have been adjusted for certain prior period immaterial corrections. See Note 2 - Significant Accounting Policies Update.
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