Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Summarized Financial Information by Segment

Financial information by business segment for the three and nine months ended September 30, 2025 and 2024 is summarized below.


	Three Months Ended September 30,
	2025
	Pressure Control		Spoolable Technologies		Total

Revenues from external customers	$	168,714	$	95,240	$	263,954
Intersegment revenue	—		—		—
Total revenues	168,714		95,240		263,954
Reconciliation of revenue
Elimination of intersegment revenue					—
Total consolidated revenues					263,954

Less:(1)
Cost of revenue from external customers	$	109,547	$	57,284	166,831
Intersegment cost of revenue	237		—		237
Total cost of revenues	109,784		57,284		167,068
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue					(237)
Total consolidated cost of revenue					166,831

Selling, general, administrative expenses and other (2)	14,407		12,150
Segment profit	$	44,523	$	25,806	$	70,329

Reconciliation of segment profit
Elimination of intersegment profit					237
Total consolidated segment profit					$	70,566
Corporate expenses (3)					(9,332)
Total operating income					$	61,234
Interest income, net					2,977
Other income, net					221
Income before income taxes					$	64,432

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(2) For each reportable segment, the 'Selling, general, administrative expenses and other' line items category includes: salaries and wages, stock based compensation amortization expense, depreciation expense, professional fees, rent expense, and other miscellaneous items.

(3) Comprised primarily of expenses not allocated to our operating segments.


	Three Months Ended September 30,
	2024
	Pressure Control		Spoolable Technologies		Total

Revenues from external customers	$	185,026	$	108,155	$	293,181
Intersegment revenue	73		—		73
Total revenues	185,099		108,155		293,254
Reconciliation of revenue
Elimination of intersegment revenue					(73)
Total consolidated revenues					293,181

Less:(1)
Cost of revenue from external customers	$	115,920	$	62,959	$	178,879
Intersegment cost of revenue	112		—		112
Total cost of revenues	116,032		62,959		178,991
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue					(112)
Total consolidated cost of revenue					178,879

Selling, general, administrative expenses and other (2)	16,530		12,289
Segment profit	$	52,537	$	32,907	$	85,444

Reconciliation of segment profit
Elimination of intersegment profit					39
Total consolidated segment profit					$	85,483
Corporate expenses (3)					(8,691)
Total operating income					$	76,792
Interest income, net					2,062
Other income, net					—
Income before income taxes					$	78,854

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(3) Comprised primarily of expenses not allocated to our operating segments.


	Nine Months Ended September 30,
	2025
	Pressure Control		Spoolable Technologies		Total

Revenues from external customers	$	533,805	$	284,043	$	817,848
Intersegment revenue	4,958		—		4,958
Total revenues	538,763		284,043		822,806
Reconciliation of revenue
Elimination of intersegment revenue					(4,958)
Total consolidated revenues					817,848

Less:(1)
Cost of revenue from external customers	$	343,536	$	169,456	$	512,992
Intersegment cost of revenue	4,534		—		4,534
Total cost of revenues	348,070		169,456		517,526
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue					(4,534)
Total consolidated cost of revenue					512,992

Selling, general, administrative expenses and other (2)	49,504		36,852
Segment profit	$	141,189	$	77,735	$	218,924

Reconciliation of segment profit
Elimination of intersegment profit					(424)
Total consolidated segment profit					$	218,500
Corporate expenses (3)					(27,849)
Total operating income					$	190,651
Interest income, net					7,820
Other income, net					221
Income before income taxes					$	198,692

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(3) Comprised primarily of expenses not allocated to our operating segments.


	Nine Months Ended September 30,
	2024
	Pressure Control		Spoolable Technologies		Total

Revenues from external customers	$	546,727	$	310,966	$	857,693
Intersegment revenue	592		—		592
Total revenues	547,319		310,966		858,285
Reconciliation of revenue
Elimination of intersegment revenue					(592)
Total consolidated revenues					857,693

Less:(1)
Cost of revenue from external customers	$	345,322	$	178,871	$	524,193
Intersegment cost of revenue	526		—		526
Total cost of revenues	345,848		178,871		524,719
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue					(526)
Total consolidated cost of revenue					524,193

Selling, general, administrative expenses and other (2)	41,590		52,754
Segment profit	$	159,881	$	79,341	$	239,222

Reconciliation of segment profit
Elimination of intersegment profit					(66)
Total consolidated segment profit					$	239,156
Corporate expenses (3)					(19,995)
Total operating income					$	219,161
Interest income, net					4,156
Other income, net					—
Income before income taxes					$	223,317

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(3) Comprised primarily of expenses not allocated to our operating segments.