v3.26.1
Condensed Consolidated Statements of Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Seemann Composites and Materials Sciences
Industrial Solid Propulsion
Common Stock
Common Stock
Seemann Composites and Materials Sciences
Common Stock
Industrial Solid Propulsion
Additional Paid-In Capital
Additional Paid-In Capital
Seemann Composites and Materials Sciences
Additional Paid-In Capital
Industrial Solid Propulsion
Members' Equity
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive Income
Beginning Balance at Dec. 31, 2024 $ 195,996                 $ 204,258 $ (8,337) $ 75
Share-based compensation 1,410                 1,410    
Contributions 1,474                 1,474    
Conversion of member's equity into common stock in initial public offering       $ 124     $ 207,018     (207,142)    
Conversion of member's equity into common stock in initial public offering, shares       123,754                
Issuance of common stock in initial public offering, net 154,836     $ 8     154,828          
Issuance of common stock in initial public offering, net, shares       8,421                
Net income (4,798)                   (4,798)  
Ending Balance at Mar. 31, 2025 348,918     $ 132     361,846       (13,135) 75
Ending balance, shares at Mar. 31, 2025       132,175                
Beginning Balance at Dec. 31, 2024 195,996                 $ 204,258 (8,337) 75
Net income 2,009                      
Ending Balance at Jun. 30, 2025 361,477     $ 132     367,598       (6,328) 75
Ending balance, shares at Jun. 30, 2025       132,322                
Beginning Balance at Mar. 31, 2025 348,918     $ 132     361,846       (13,135) 75
Beginning balance, shares at Mar. 31, 2025       132,175                
Issuance of common stock upon acquisition of Seemann Composites and Materials Sciences     $ 5,752           $ 5,752      
Issuance of common stock upon acquisition of Seemann Composites and Materials Sciences, shares           147            
Net income 6,807                   6,807  
Ending Balance at Jun. 30, 2025 361,477     $ 132     367,598       (6,328) 75
Ending balance, shares at Jun. 30, 2025       132,322                
Beginning Balance at Dec. 31, 2025 382,691     $ 132     373,455       9,029 75
Beginning balance, shares at Dec. 31, 2025       132,391                
Issuance of common stock upon acquisition of Seemann Composites and Materials Sciences   $ 15,206     $ 1     $ 15,205        
Issuance of common stock upon acquisition of Seemann Composites and Materials Sciences, shares         135              
Net income 7,794                   7,794  
Ending Balance at Mar. 31, 2026 405,691     $ 133     388,660       16,823 75
Ending balance, shares at Mar. 31, 2026       132,526                
Beginning Balance at Dec. 31, 2025 382,691     $ 132     373,455       9,029 75
Beginning balance, shares at Dec. 31, 2025       132,391                
Net income 21,826                      
Ending Balance at Jun. 30, 2026 421,097     $ 133     390,034       30,855 75
Ending balance, shares at Jun. 30, 2026       132,534                
Beginning Balance at Mar. 31, 2026 405,691     $ 133     388,660       16,823 75
Beginning balance, shares at Mar. 31, 2026       132,526                
Share-based compensation 1,444           1,444          
Employee stock plans (70)           (70)          
Employee stock plans, shares       8                
Net income 14,032                   14,032  
Ending Balance at Jun. 30, 2026 $ 421,097     $ 133     $ 390,034       $ 30,855 $ 75
Ending balance, shares at Jun. 30, 2026       132,534