v3.26.3
Basis of Presentation (Tables)
 9 Months Ended
Sep. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Accounts Receivable Amount Billed and Billable to Customer
The table below shows a summary of accounts receivable:
(in thousands)
September 30, 2026December 31, 2025September 30, 2025December 31, 2024
Amounts billed to customers - net of allowance for credit losses
$226,451 $171,812 $179,756 $148,783 
Accrued revenue (unbilled receivable)
63,534 28,941 29,469 47,211 
Total accounts receivable - net of allowance for credit losses$289,985 $200,753 $209,225 $195,994 
Transaction price allocated to the remaining performance obligation for our partially completed hydraulic fracturing and wireline operations (1)
$17,591 $31,558 $27,727 $38,708 
(1)The remaining performance obligation at September 30, 2026 is expected to be completed and recognized as revenue within one month following the current period balance sheet date. The remaining performance obligations at the remaining dates were recorded as revenue within one month following those dates.
The table below shows the amounts earned from performance obligations under contracts with customers for which the Company has a conditional right to receive consideration for its performance, and the presentation of these amounts in our condensed consolidated balance sheets:
(in thousands)
September 30, 2026December 31, 2025September 30, 2025December 31, 2024
Amount presented in other current assets$54 $— $— $— 
Amount presented in other noncurrent assets— — — — 
Total$54 $— $— $— 
The table below shows revenues recognized in our condensed consolidated statements of operations related to performance obligations under contracts with customers for which the Company has a conditional right to receive consideration for its performance:
(in thousands)
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Revenue recognized related to performance obligations under contracts with customers for which the Company has a conditional right to receive consideration for its performance$54 $— $54 $— 
The table below shows a summary of our contract liabilities:
(in thousands)
September 30, 2026December 31, 2025September 30, 2025December 31, 2024
Cash advances and upfront payments received from customers - outstanding balance (1)
$32,211 $8,104 $5,802 $11,823 
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Revenue recognized from cash advances and upfront payments received balances outstanding at the beginning of period$2,068 $1,763 $4,951 $4,887 
(1)These amounts are accounted for under FASB ASC Topic 606, Revenue from Contracts with Customers. Of the amount outstanding as of September 30, 2026, $9.5 million is included in accrued and other current liabilities, and $22.7 million is included in other long-term liabilities in our condensed consolidated balance sheet. All other amounts are included in accrued and other current liabilities in our condensed consolidated balance sheets. The Company expects to recognize the amount outstanding as of September 30, 2026 included in accrued and other current liabilities as revenue within one year following the current period balance sheet date.
Schedule of Allowance for Credit Losses
The table below shows a summary of allowance for credit losses:
(in thousands)
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Beginning balance$— $— $— $— 
Provision for credit losses during the period— — — — 
Write-off during the period— — — — 
Ending balance$— $— $— $— 
Schedule of Capitalized Contract Costs
The table below shows the amounts of incurred costs to fulfill contracts with customers, and the presentation of these amounts in our condensed consolidated balance sheets:
(in thousands)
September 30, 2026December 31, 2025September 30, 2025December 31, 2024
Amount presented in other current assets$2,471 $— $— $— 
Amount presented in other noncurrent assets142 — — — 
Total$2,613 $— $— $— 
The following table shows amortization of incurred costs to fulfill contracts with customers recognized in other direct costs within cost of services in our condensed consolidated statements of operations:
(in thousands)
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Amortization of incurred costs to fulfill contracts with customers$779 $— $1,049 $— 
Schedule Of Depreciation and Amortization Costs
Depreciation and amortization comprised the following:
(in thousands)
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Depreciation and amortization related to cost of services$42,022 $39,291 $121,363 $126,529 
Depreciation and amortization related to general and administrative expenses2,369 2,369 7,105 7,121 
Total depreciation and amortization$44,391 $41,660 $128,468 $133,650