| Schedule of Segment Reporting Information, by Segment |
A summary of segment information and reconciliation to consolidated income before income taxes is as follows:
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Three Months Ended |
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June 30, 2026 |
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Manufacturing |
|
|
Aftermarket |
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Total |
|
Revenues |
|
$ |
104,282 |
|
|
$ |
8,856 |
|
|
$ |
113,138 |
|
Cost of sales |
|
|
101,000 |
|
|
|
5,967 |
|
|
|
|
Segment gross profit |
|
$ |
3,282 |
|
|
$ |
2,889 |
|
|
$ |
6,171 |
|
Other segment items (1) |
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|
599 |
|
|
|
946 |
|
|
|
|
Segment operating income |
|
$ |
2,683 |
|
|
$ |
1,943 |
|
|
$ |
4,626 |
|
Reconciliation of segment operating income to consolidated loss before income taxes: |
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|
Unallocated corporate expenses |
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|
|
|
|
|
|
|
(8,922 |
) |
Consolidated interest expense |
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|
|
|
|
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|
(3,045 |
) |
Loss on change in fair market value of Warrant liability |
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|
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|
(24,889 |
) |
Consolidated other expense |
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|
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(218 |
) |
Consolidated loss before income taxes |
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$ |
(32,448 |
) |
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Reconciliation of segment gross profit to consolidated loss before income taxes: |
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$ |
6,171 |
|
Other segment items (1) |
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|
|
|
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|
|
1,545 |
|
Segment operating income |
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|
|
|
|
|
|
|
4,626 |
|
Unallocated corporate expenses |
|
|
|
|
|
|
|
|
(8,922 |
) |
Consolidated interest expense |
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|
|
|
|
|
|
|
(3,045 |
) |
Loss on change in fair market value of Warrant liability |
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|
|
|
|
|
|
|
(24,889 |
) |
Consolidated other expense |
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|
|
|
|
|
|
(218 |
) |
Consolidated loss before income taxes |
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|
|
|
|
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|
$ |
(32,448 |
) |
(1) Other segment items in Manufacturing and Aftermarket segments include selling, general and administrative expenses.
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Three Months Ended |
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|
June 30, 2025 |
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Manufacturing |
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|
Aftermarket |
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Total |
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Revenues |
|
$ |
110,757 |
|
|
$ |
7,866 |
|
|
$ |
118,623 |
|
Cost of sales |
|
|
95,831 |
|
|
|
4,971 |
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|
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|
Segment gross profit |
|
$ |
14,926 |
|
|
$ |
2,895 |
|
|
$ |
17,821 |
|
Other segment items (1) |
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|
402 |
|
|
|
510 |
|
|
|
|
Segment operating income |
|
$ |
14,524 |
|
|
$ |
2,385 |
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|
$ |
16,909 |
|
Reconciliation of segment operating income to consolidated loss before income taxes: |
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|
|
|
|
|
|
|
Unallocated corporate expenses |
|
|
|
|
|
|
|
|
(9,202 |
) |
Consolidated interest expense |
|
|
|
|
|
|
|
|
(4,382 |
) |
Loss on change in fair market value of Warrant liability |
|
|
|
|
|
|
|
|
(47,630 |
) |
Consolidated other income |
|
|
|
|
|
|
|
|
3,296 |
|
Consolidated loss before income taxes |
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|
|
|
|
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|
$ |
(41,009 |
) |
|
|
|
|
|
|
|
|
|
|
Reconciliation of segment gross profit to consolidated loss before income taxes: |
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$ |
17,821 |
|
Other segment items (1) |
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|
|
|
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|
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|
912 |
|
Segment operating income |
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|
|
|
|
|
|
|
16,909 |
|
Unallocated corporate expenses |
|
|
|
|
|
|
|
|
(9,202 |
) |
Consolidated interest expense |
|
|
|
|
|
|
|
|
(4,382 |
) |
Loss on change in fair market value of Warrant liability |
|
|
|
|
|
|
|
|
(47,630 |
) |
Consolidated other income |
|
|
|
|
|
|
|
|
3,296 |
|
Consolidated loss before income taxes |
|
|
|
|
|
|
|
$ |
(41,009 |
) |
(1) Other segment items in Manufacturing and Aftermarket segments include selling, general and administrative expenses.
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Six Months Ended |
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|
June 30, 2026 |
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|
Manufacturing |
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|
Aftermarket |
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Total |
|
Revenues |
|
$ |
157,238 |
|
|
$ |
20,208 |
|
|
$ |
177,446 |
|
Cost of sales |
|
|
146,637 |
|
|
|
13,828 |
|
|
|
|
Segment gross profit |
|
$ |
10,601 |
|
|
$ |
6,380 |
|
|
$ |
16,981 |
|
Other segment items (1) |
|
|
963 |
|
|
|
1,895 |
|
|
|
|
Segment operating income |
|
$ |
9,638 |
|
|
$ |
4,485 |
|
|
$ |
14,123 |
|
Reconciliation of segment operating income to consolidated income before income taxes: |
|
|
|
|
|
|
|
|
|
Unallocated corporate expenses |
|
|
|
|
|
|
|
|
(19,013 |
) |
Consolidated interest expense |
|
|
|
|
|
|
|
|
(6,421 |
) |
Gain on change in fair market value of Warrant liability |
|
|
|
|
|
|
|
|
24,215 |
|
Consolidated other expense |
|
|
|
|
|
|
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|
(24 |
) |
Consolidated income before income taxes |
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|
|
|
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|
$ |
12,880 |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of segment gross profit to consolidated income before income taxes: |
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|
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|
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|
$ |
16,981 |
|
Other segment items (1) |
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|
|
|
|
|
|
|
2,858 |
|
Segment operating income |
|
|
|
|
|
|
|
|
14,123 |
|
Unallocated corporate expenses |
|
|
|
|
|
|
|
|
(19,013 |
) |
Consolidated interest expense |
|
|
|
|
|
|
|
|
(6,421 |
) |
Gain on change in fair market value of Warrant liability |
|
|
|
|
|
|
|
|
24,215 |
|
Consolidated other expense |
|
|
|
|
|
|
|
|
(24 |
) |
Consolidated income before income taxes |
|
|
|
|
|
|
|
$ |
12,880 |
|
(1) Other segment items in Manufacturing and Aftermarket segments include selling, general and administrative expenses.
|
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|
|
|
|
|
|
|
|
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|
|
|
Six Months Ended |
|
|
|
June 30, 2025 |
|
|
|
Manufacturing |
|
|
Aftermarket |
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|
Total |
|
Revenues |
|
$ |
200,932 |
|
|
$ |
13,981 |
|
|
$ |
214,913 |
|
Cost of sales |
|
|
173,896 |
|
|
|
8,802 |
|
|
|
|
Segment gross profit |
|
$ |
27,036 |
|
|
$ |
5,179 |
|
|
$ |
32,215 |
|
Other segment items (1) |
|
|
759 |
|
|
|
1,076 |
|
|
|
|
Segment operating income |
|
$ |
26,277 |
|
|
$ |
4,103 |
|
|
$ |
30,380 |
|
Reconciliation of segment operating income to consolidated income before income taxes: |
|
|
|
|
|
|
|
|
|
Unallocated corporate expenses |
|
|
|
|
|
|
|
|
(18,802 |
) |
Consolidated interest expense |
|
|
|
|
|
|
|
|
(8,718 |
) |
Gain on change in fair market value of Warrant liability |
|
|
|
|
|
|
|
|
5,258 |
|
Consolidated other income |
|
|
|
|
|
|
|
|
3,157 |
|
Consolidated income before income taxes |
|
|
|
|
|
|
|
$ |
11,275 |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of segment gross profit to consolidated income before income taxes: |
|
|
|
|
|
|
|
$ |
32,215 |
|
Other segment items (1) |
|
|
|
|
|
|
|
|
1,835 |
|
Segment operating income |
|
|
|
|
|
|
|
|
30,380 |
|
Unallocated corporate expenses |
|
|
|
|
|
|
|
|
(18,802 |
) |
Consolidated interest expense |
|
|
|
|
|
|
|
|
(8,718 |
) |
Gain on change in fair market value of Warrant liability |
|
|
|
|
|
|
|
|
5,258 |
|
Consolidated other income |
|
|
|
|
|
|
|
|
3,157 |
|
Consolidated income before income taxes |
|
|
|
|
|
|
|
$ |
11,275 |
|
(1) Other segment items in Manufacturing and Aftermarket segments include selling, general and administrative expenses. A summary of segment depreciation, amortization and capital expenditures is as follows:
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Three Months Ended |
|
|
Six Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Depreciation and amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing |
|
$ |
1,481 |
|
|
$ |
1,431 |
|
|
$ |
2,978 |
|
|
$ |
2,796 |
|
Aftermarket |
|
|
309 |
|
|
|
35 |
|
|
|
617 |
|
|
|
71 |
|
Corporate |
|
|
55 |
|
|
|
84 |
|
|
|
114 |
|
|
|
179 |
|
Consolidated depreciation and amortization |
|
$ |
1,845 |
|
|
$ |
1,550 |
|
|
$ |
3,709 |
|
|
$ |
3,046 |
|
Capital expenditures: |
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing |
|
$ |
533 |
|
|
$ |
562 |
|
|
$ |
532 |
|
|
$ |
847 |
|
Aftermarket |
|
|
203 |
|
|
|
- |
|
|
|
351 |
|
|
|
- |
|
Corporate |
|
|
- |
|
|
|
46 |
|
|
|
- |
|
|
|
91 |
|
Consolidated capital expenditures |
|
$ |
736 |
|
|
$ |
608 |
|
|
$ |
883 |
|
|
$ |
938 |
|
|
| Geographic Information |
A summary of revenues and long-lived assets by geographic information is as follows:
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Geographic Information |
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|
Revenues (a) |
|
|
Long Lived Assets (b) |
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
|
|
|
|
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
United States |
|
$ |
113,138 |
|
|
$ |
118,623 |
|
|
$ |
177,446 |
|
|
$ |
214,913 |
|
|
$ |
11,050 |
|
|
$ |
11,809 |
|
Mexico |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
61,206 |
|
|
|
64,318 |
|
Total |
|
$ |
113,138 |
|
|
$ |
118,623 |
|
|
$ |
177,446 |
|
|
$ |
214,913 |
|
|
$ |
72,256 |
|
|
$ |
76,127 |
|
(a) Revenue is attributed to countries based on the location in which control transfers to the customer. (b) Long lived assets include property, plant and equipment, net, right-of-use (ROU) assets, and long-lived intangible assets.
|